Yoho Town Two-Bedroom Unit Sells at a Loss for HK$5.38M
The sluggish second-hand property market has led some owners of newer developments to sell at a loss, anticipating further market declines. Recently, a two-bedroom unit in Yuen Long’s Yoho Town sold for HK$5.38 million, with a price per square foot of HK$12,749. The previous owner, who purchased the property four years ago, incurred a loss of over 10%.
According to Midland Realty, the transaction involved a low-floor Unit A in Block 9 of Yoho Town. The unit has a saleable area of 422 square feet and features a two-bedroom layout. Initially listed for HK$5.65 million, the unit was recently sold for HK$5.38 million, reflecting a price per square foot of about HK$12,749. The buyer, a local resident, was drawn to the development’s comprehensive amenities, prompting the purchase.
A comparable unit, also a low-floor Unit A in Block 9 with the same saleable area but two floors lower, was sold in early February 2024 for HK$5.4 million. This indicates that prices for similar units in the development have remained relatively stable over the past six months.
The previous owner purchased the unit in 2020 for HK$6 million. After holding it for four years, the recent sale resulted in a paper loss of HK$620,000, reflecting a depreciation of over 10% during the ownership period.