Occupancy Owners Upgrade to Private Residences, Buy 600-Square-Foot Two-Room Unit in Tuen Mun Hai Tsui Garden for 5.06 Million HKD, Price per Square Foot 8,309 HKD
कीवर्ड: Public housing, private residence, Tuen Mun Hai Tsui Garden, secondary market transaction, upgrading to a new home, price per square foot 8,309 HKD
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Saturday, 09 August 2025
The secondary market transaction continues to increase, and some owners are accelerating their house-moving plans. A two-room unit in Tuen Mun Hai Tsui Garden has been sold for 5.06 million HKD, with a price per square foot of 8,309 HKD. The original owner purchased the unit back in 1999, realizing a profit of 3.36 million HKD and leaving, with the unit's value doubling. Wong Hung Tak, Area Director of Sun Hung Kai Properties, stated that the unit is Unit A, a high-floor unit in Block 4 of Hai Tsui Garden, with a practical area of 609 square feet and a two-room layout. It is understood that the new buyer is an owner within the area, who sold their own public housing unit and immediately searched for a unit in Tuen Mun. After visiting the above unit, they decided to upgrade from public housing to a private residence because the unit is more spacious than their original residence and the bedroom has a view of the open sea. Ultimately, they bought the unit for self-use after negotiation for 5.06 million HKD, with a price per square foot of 8,309 HKD. The price is about 4.5% higher than similar units recently. The agent said that the transaction of the unit is in line with the market price. A similar unit in the neighboring block of the estate was sold for 4.83 million HKD last month, so the price of this unit is about 4.5% higher than recent similar units. The original owner bought the unit for about 1.7 million HKD in 1999, holding it for 26 years and realizing a profit of about 3.36 million HKD in this transaction, with the unit's value increasing by about 2 times during the period.