Hong Kong property market records HK$12.4bn luxury sale and 5% rise in entry‑level prices

The Chen family of Agile (雅居樂) sold the four‑unit development at 39 South Bay Road in Shallow Water Bay for HK$12.38 billion, setting this year's highest per‑square‑foot price at roughly HK$95,000. The sale covered about 8,529 sq ft across four units and included all parking spaces, with an initial deposit of HK$1.238 billion and the balance paid at completion.

In the Tsuen Wan Centre estate, regarded as a "starter‑home" market, the average price per square foot rose about 5% month‑on‑month to HK$10,940 in April, while transaction volume slipped slightly. The estate recorded around six sales this month, with unit sizes between 329 sq ft and 377 sq ft and asking prices ranging from HK$3.88 million to HK$4.20 million. Rental rates also edged up, averaging HK$37 per square foot, reflecting a "price‑up, volume‑down" trend.