Although the weather has been unstable recently, the secondary market transaction atmosphere remains robust. Yesterday, under the heavy rain, Yuen Long recorded two secondary market transactions. Among them, a two-bedroom unit in the Long Cheng Hui, which is located above the MTR Long Ping Station, was sold for 6.29 million HKD during the heavy rain, at a price of 12,707 HKD per square foot. The original owner bought the unit at a first-hand price in 2018 and left with a loss of 179.6 million HKD, with the unit's value depreciating by more than 20%.

Wong Kam Hoi, Deputy Regional Sales Manager of Century 21 Yuen Long, said that the unit is the A unit on the middle floor of Block 3 of Long Cheng Hui, with a usable area of 495 square feet and a two-bedroom layout with a kitchen. The original owner initially listed the unit for 7 million HKD, until yesterday, when the heavy rain brought a new buyer to view the property. After both parties negotiated, the unit was finally sold for 6.29 million HKD, a reduction of 710,000 HKD or 10%, equivalent to 12,707 HKD per square foot. The agent said that the unit was sold at a low market price. Compared with the price of 7.138 million HKD for similar two-bedroom units last month, the latest transaction price is 848,000 HKD or 12% lower than the market price, a discount of more than 10%.

The original owner bought the unit for about 8.086 million HKD in November 2018, held the unit for about 7 years, and now sold it with a loss of about 1.796 million HKD, with the unit's value declining by about 22.2% during the period. The Long Cheng Hui is located above the MTR Long Ping Station.

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