2025-04-30 28Hse Editor
A three-bedroom unit in the upscale Mount Pavilia estate in Sai Kung has sold for HK$11.38 million after a 5.2% price reduction from its original HK$12 million asking price. The transaction reflects a price of HK$12,744 per square foot. The owner, who purchased the property for HK$18.23 million in June 2018, has suffered a loss of HK$6.85 million, with the home’s value declining by 38% over the past seven years.
The unit, located on the ground floor of Block 19, offers a saleablepolpo area of 893 square feet with a three-bedroom, en-suite layout, and includes a 199-square-foot private garden.
Mount Pavilia has recorded 10 second-hand transactions so far this year, all sold below their original purchase prices, with losses ranging from 26% to 49%.
Agents note that declining market sentiment has left sellers with little choice but to accept losses to offload properties during the ongoing slump.
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