Secondary home deals nearly triple on weekendBusiness | Jeannie Tang Feb 18, 2019
The secondary property market saw improvement in transactions on the weekend, with developers raising prices at their projects after Sun Hung Kai Properties (0016) acquired a Tai Po building site for HK$6.3 billion on Friday. The 10 major housing estates recorded 30 deals over the weekend, up from 11 the previous weekend, according to data from leading property agencies. A 296 saleable square foot flat at Upper East in Hung Hom sold for HK$5.3 million, or HK$17,905 per sq ft. The vendor purchased this unit for HK$5.13 million in 2015. Meanwhile, Sino Land (0083) hiked the prices of 33 units at Mayfair by the Sea 8, in Tai Po, by 1.5 to 2 percent.