The veteran luxury house in Mid-Levels, Jiahuiyuan, entered the market. According to the Land Registry, the low-rise unit in Block C of Jiahuiyuan with a parking space was sold for 160 million yuan in the middle of last month. The saleable area of the unit is 3,335 square feet, and the price is approximately per square foot. It is 47,976 yuan.
The new buyer is Tung Chee-hwa, the former chief executive of Hong Kong and the current vice chairman of the Chinese People's Political Consultative Conference.
This time, Tung Chee-hwa only needs to pay 4.25% stamp duty on the property price, which is about 6.8 million yuan in tax, which means he is entering the market as the first home buyer.
As for the original owner of Shangzhi as early as 1982, he bought the unit for about 3.9 million yuan and held the goods for about thirty-nine years. The book profit is now 156 million yuan, which has appreciated 40 times during the period.
According to information, as early as the 1970s, the Tung Chee-hwa family had purchased a unit on the same floor of the same estate for about 476,800 yuan through the name of the company, with a saleable area of about 3,349 square feet, which was later transferred internally.
When Tung Chee-hwa became the Chief Executive in 1997, he did not live in the Government House. Instead, he chose to live in Jiahui Garden, and the government rented the unit purchased this time with a monthly rent of 120,000 yuan.
It is known that after Tung Chee-hwa left his post, the unit was still rented by his son Dong Lijun's company to this day.
