Loss-making Deal | Kuanghu Residence Connected Houses Lost 8.2 Million in 11 Years

SighingCashier · 2026-03-27T15:05:08+00:00

Sai Kung Kuanghu Residence J-Block two adjacent houses sold for HKD 51.8 million, with a total usable area of 2,746 sq ft, and a practical price per square foot of HKD 18,864. The new buyer is from outside the district, actively purchasing due to the rarity of standalone houses for sale. The original owner held the property for 11 years and finally sold at a lower price, incurring a loss of HKD 8.2 million.

SighingCashier

2026-03-27 15:05:08

Abstract generation in progress

Sai Kung Kuong Woo House, Phase J: two connected units, with usable area of 1,373 sq ft each, totaling 2,746 sq ft. It comes with an approximately 3,000 sq ft large garden and a private boat berth. The latest transaction closed at HK$51.8 million, with a usable-area price of HK$18,864 per sq ft.

Centaline Property says the new buyer is from outside the district. After viewing the property for a long time, and seeing that such a rare independent connected house is on the market, and that the villa renovation is brand new, they actively negotiated with the original owner for several weeks, and eventually successfully purchased it for own use.

It is understood that the original owner bought the two connected units in 2015 for HK$60 million. With the holding period at 11 years, the seller incurs a loss of HK$8.2 million on the books, or 13.7%.

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