Hong Kong Real Estate Market Records Several Multi‑Million Dollar Sales

A foreclosed one‑bedroom flat in Wan Chai, formerly owned by the late property tycoon Tang Shing‑bor’s family, was sold at auction for HK$3.55 million after attracting 30 bidders. The unit, in poor condition, fetched a price about 15 % below its market valuation.

In a separate transaction, a two‑room unit in Tai Koo City sold for HK$9.55 million, delivering a HK$1.37 million paper profit for the owner who held it for only four months, a gain of roughly 16.7 %. Other recent sales in Hong Kong’s premium estates also showed strong returns for long‑term owners.

Hip Shing Hong’s family, linked to developer Henry Fong Yun‑wah, acquired a full‑block property at 67–71 Argyle Street in Mong Kok for HK$340 million, a 43 % discount from the original HK$600 million asking price. The site, leased to Futu Securities, generates about HK$1 million in monthly rent.

In Tuen Mun, a mainland family purchased three large units in the MORI Signature Series development for a total of HK$39.75 million, reflecting continued demand from cross‑border buyers for low‑density luxury housing in Hong Kong.