El Futuro Rooftop Pool Sea View Flat Sale Forfeited — Buyer Loses HK$5.2M, To Be Resold via Tender This Friday
A luxury rooftop pool ocean-view unit at El Futuro in Kau To Shan, Sha Tin, developed by CK Asset Holdings, has had its sale terminated. The buyer forfeited 15% of the deposit, amounting to approximately HK$5.2 million. The developer has announced the unit will be reintroduced to the market through a tender process starting this Friday (November 29), with bids open until February 21, 2025.
According to transaction records, the forfeited unit is located in Block 2, 25th Floor, Unit C. It has a saleable area of 1,228 square feet, a 743-square-foot private rooftop with a swimming pool, and a spacious layout featuring four bedrooms (two ensuites) and a utility room. The unit was originally sold in March 2021 for HK$34.651 million, or HK$28,217 per square foot. With the transaction now cancelled, the buyer has lost 15% of the deposit, totalling approximately HK$5.2 million.
The developer has announced that the unit will be re-tendered starting this Friday (November 29). To attract potential buyers, the developer is offering several incentives, including flexible transaction terms, payment of stamp duty on the buyer's behalf, a HK$480,000 furniture voucher, and priority purchase rights for two parking spaces.
This high-profile resale underscores the volatility of Hong Kong's luxury property market, where unique features such as private pools and ocean views command significant premiums but can also pose challenges for buyers in uncertain economic conditions.