Property prices are under pressure!The three-bedroom apartment in City One, Shatin, changed hands for a total of NT$1.1 million and its value fell by 50% in less than half a month (with pictures)｜Blue chip housing estates
The decline in second-hand property prices has not stopped, and the cost of blue-chip housing estates has been under pressure. The latest “three-bedroom” three-bedroom apartment in City One, Shatin, which is the target of many commuters, has been on the market for a total of NT$1.1 million in two months, and it changed hands for NT$5.2 million. A similar unit was sold for NT$5.5 million in the middle of this month, a decrease of NT$300,000 or about 5.5% in less than half a month.
Ng Kam-kee, deputy regional sales manager of Centaline Real Estate’s Shatin Chi Fu City One Branch, said that the middle-floor Room B of Block 17, Phase 2 of Shatin City One, has a usable area of about 451 square feet. It is a small three-bedroom apartment, facing the northeast and looking out to open views. The unit was put up for sale in October with an asking price of NT$6.3 million. Afterwards, the price was reduced several times to NT$5.5 million and was negotiated for purchase. Finally, it was purchased by a branch family in the area for NT$5.2 million for personal use, a cumulative reduction of NT$1.1 million or approximately 17.5%. The price per square foot About 11,530 yuan. It is understood that a similar “three-bedroom” unit in the housing estate was sold for NT$5.5 million in mid-December, which means that the property price has dropped by NT$300,000 or about 5.5% in less than half a month.
⇊Room B, middle floor, Block 17, City One Phase 2, Shatin⇊
Prices per square foot in City One of Shatin fell 15% month-on-month
The original owner purchased the unit in October 2000 for NT$1.69 million and held it for about 23 years. Now he has made a book profit of NT$3.51 million when reselling it. The unit appreciated nearly 2.1 times during the period.
Wu Jinji added that Shatin City One has temporarily recorded 11 transactions so far in December, which is close to the 12 transactions in the whole month of last month; however, the average price per square foot is about 11,140 yuan, down by about 15% month-on-month.
Check out City One Shatin’s listings now (House730)
Property prices are under pressure!The three-bedroom apartment in City One, Shatin, changed hands for a total of NT$1.1 million and its value fell by 50% in less than half a month (with pictures)｜Blue chip housing estates
The original article was published on AM730
2023-12-27 09:00:00
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