Real estate market
Written by: Yue Yueting
2019-12-04 15:58
Last updated: 2019-12-04 15:59Although property prices in Hong Kong have been declining for many months, there is still no shortage of strong buyers entering the market. According to information from the Land Registry, the house in No. 3, Mucheng Path, Jardine's Hill was sold for about 241 million yuan last month, with a saleable area of about 4969 square feet and an average real square footage of about 48,500 yuan.
The registered name of the new buyer is LO PO YEN, which is the same as the Chinese and English names of Mrs. Wu Weiguo, the third-generation successor of Maxim's Group, and Luo Baoying, a member of the Luo family of the Great Eagle Group. The buyer only paid a printing fee of 10.24 million yuan, or 4.25% of the property price, indicating that the buyer entered the market as a first home.
The original owner paid 1.065 million yuan to buy the site in November 1975. The holding has been sold so far, and the book profit is nearly 240 million yuan or about 225 times.
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