Erosion Letting | Love Ocean Praise Two Landlords Sell Southeast Property at a Loss of 1.07 Million

SighingCashier · 2026-04-08T07:01:13+00:00

Deep Water Bay Aihoi Chung 2nd Building, Mid-Levels E Unit, approximately 498 sq ft of usable area, 2-bedroom layout, facing Southeast with panoramic city views. The original owner listed it for about HKD 8.5 million about a year ago, attracting inquiries from out-of-town buyers. After negotiations, the transaction was completed at HKD 8 million, with an effective price of approximately HKD 16,064 per square foot.It is understood that the new buyer is a first-time homebuyer who was attracted to the unit’s open views and mid-level position. After viewing twice, they decided to purchase the unit.Hong Kong Property states that the original owner purchased the unit in April 2020 for about HKD 9.08M. This resale resulted in a paper loss of approximately HKD 1.08M or 12%.

SighingCashier

2026-04-08 07:01:13

Sham Shui Po Love Sea Chant 2, Tower 1, Mid- Level Unit E, with an approximate usable area of 498 sq ft. It has a two-room layout with separated rooms, facing southeast for an open city view. The original owner initially put the unit up for sale for about HK$8.5 million, and about one year later, it attracted inquiries from buyers from outside the district. After both sides negotiated, it was sold for HK$8 million, with a usable price per sq ft of about HK$16,064.

It is learned that the new buyer is a First Place investor. They were attracted to the unit’s open views and that it is located on a mid floor. Therefore, after viewing the property twice, they decided to purchase the above unit.

Hong Kong Property said that the original owner bought the above unit in April 2020 for about HK$9.08M. In this resale, the book loss is about HK$1.08M, or 12%.

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.