As spring approaches, Hong Kong's secondary property market has become more active. In Cheung Sha Wan, The Pacifica, one of the "Four Little Dragons” of West Kowloon, has seen strong sales momentum. According to February data from the Land Registry, there were 10 second-hand transactions at The Pacifica, all of which recorded profits ranging from 2.4% to 282.2%. This demonstrates the estate's resilience during market fluctuations.
One notable transaction was a mid-level, two-bedroom unit in Tower 3, with a usable area of 467 square feet. The original owner purchased it during the SARS outbreak in December 2003 for HK$1.727 million and sold it last month for HK$6.6 million, achieving a profit of HK$4.873 million. The unit's value increased by approximately 282.2% over the period, although it underperformed the broader market by 20.88%.
Another profitable sale involved a high-level, two-bedroom unit in Tower 7, with a usable area of 485 square feet. The original owner bought it in December 2011 for HK$5 million and sold it last month for HK$8 million, earning a profit of HK$3 million. The unit appreciated by about 60% during the period, but also underperformed the market by 20.42%.
According to 28Hse, The Pacifica recorded 27 secondary transactions in the past 90 days, with a profit ratio of 89%. Currently, there are 83 units available for sale, with asking prices ranging from HK$6.3 million to HK$17.28 million. On the rental side, the estate recorded 28 leasing transactions during the same period, with an average rental yield of 3.3%.
The Pacifica’s consistent profitability in the second-hand market can be attributed to three key factors: transportation, lifestyle amenities, and design, combined with its strong School Net.
Transportation, Lifestyle Amenities, Unit Design, and School Net Advantages
The Pacifica is highly favored by buyers due to its excellent transportation links, comprehensive lifestyle amenities, practical unit designs, and its location within a desirable school network.
For transportation, the estate features a ground-level shopping mall with an all-weather pedestrian tunnel that connects directly to the Lai Chi Kok MTR station, allowing residents to travel without worrying about the weather. Properties near railway stations are known for holding their value, and from The Pacifica, it takes just over 10 minutes by MTR to reach Mong Kok or Tsim Sha Tsui, and roughly 20 to 25 minutes to Central or Admiralty, making it an ideal choice for professionals working in core business districts.
The estate also offers abundant lifestyle amenities. The interconnected shopping malls of The Pacifica, Liberte, and Banyan Garden provide easy access to restaurants, supermarkets, clinics, and tutoring centres, meeting all daily needs. Additionally, the nearby Aquamarine shopping complex includes a large Aeon Japanese supermarket, and D2 Place, a revitalized mall converted from industrial buildings, is just a short walk away, offering diverse entertainment and leisure options.
In terms of unit design, the estate focuses on practical layouts, primarily featuring two-bedroom units. These units cater to first-time buyers and small families, driving high demand in the secondary market. Furthermore, Yu Ching Hin is located within School Network 40, which includes many prestigious schools such as Holy Trinity College, Cheung Sha Wan Catholic Secondary School, Ying Wa College, and Maryknoll Fathers’ School. This makes it especially attractive to families prioritising education, whether for buying or renting.
Higher Prices for New Developments Boost The Pacifica’s Value
In recent years, new developments in Cheung Sha Wan have launched with higher average prices per square foot compared to The Pacifica. Currently, The Pacifica’s second-hand market units are priced at an average of approximately HK$16,129 per square foot. In contrast, new developments such as Soyo Square, set to launch in November 2025, have an average price of HK$16,883 per square foot, which is about 4.67% higher than The Pacifica. Amber Place, launched in June 2024, averages HK$18,348 per square foot, priced 13.76% higher, while Bondlane II, launched in March 2024, reaches HK$25,173 per square foot, a striking 56.07% higher.
The higher pricing of new developments makes The Pacifica appear more affordable in comparison. Buyers with limited budgets or those unable to purchase their preferred new projects often turn to the secondary market, opting for The Pacifica instead. The increased number of buyers naturally drives up transaction volumes, making it easier for owners to profit when listing their units for sale.
Strong Demand for Second-Hand Units Drives Profits Across the Area
The high demand for second-hand properties in Cheung Sha Wan, particularly the "Four Little Dragons" estates, is another key factor behind The Pacifica’s consistently profitable transactions.
Among comparable estates in the area, The Pacifica has a slightly higher average price per square foot at HK$16,129, compared to HK$15,721 for Banyan Garden and HK$15,750 for Liberte, reflecting a premium of around 2.41% to 2.6%. All three estates have similar building ages, ranging from 21 to 23 years, and show high profitability rates in the secondary market. According to data from 28Hse, The Pacifica recorded a profitability rate of 89% for transactions over the past 90 days, while Banyan Garden and Liberte both achieved 84%.
This data highlights the strong demand for quality second-hand properties in Cheung Sha Wan, attracting buyers for both investment and upgrading purposes. With robust market demand, owners enjoy greater bargaining power, contributing to The Pacifica’s 10 profitable transactions in February.
