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The three-bedroom unit at Jiahu Mountain Villa has been held for 26 years, doubling in value.
Tuen Mun Jun Chuk Court Chui Wu Terrace Block 6, Low Floor Unit H, 552 sq ft of usable area, 3-room layout, originally asking price $4.50 million.
The buyer, seeing that the unit’s condition was ideal, finally increased the bid by $250k and it was transacted at $4.75 million, with a usable-area price of about $8,605 per sq ft.
Centaline Property Services said that the original owner purchased the above property in May 2000 for about $1.59 million, held it for nearly 26 years. In this resale, the gain on the books was about $3.16 million, and the property’s value rose by nearly two times during the holding period.