Despite the intense winds brought by Super Typhoon Ragasa, real estate transactions in Hong Kong remain active. On September 23, the Hong Kong Observatory issued Signal No. 8, later upgrading it to Signal No. 10 at 2:40 AM on September 24. During this storm, a determined buyer braved the weather, taking a taxi to Tuen Mun to place a deposit on a unit at Hong Lai Garden for HK$3.35 million, at approximately HK$9,254 per square foot. The original owner, who held the property for 16 years, made a 230% profit from the sale.
According to Centaline Property, the sold unit is located on a mid-floor of Block 1, Unit H, with a saleable area of 362 square feet. Originally a one-bedroom layout, the unit had been converted into a two-bedroom configuration.
The property had been listed for less than a day. The seller initially asked HK$3.5 million, but the buyer, a long-time admirer of the estate, was drawn by its proximity to the West Rail Line and convenient transportation. After viewing the unit during the typhoon, the buyer successfully negotiated a price down to HK$3.35 million and immediately placed a deposit.
The seller originally purchased the unit in 2009 for HK$1.02 million. Over the 16-year holding period, the property value increased by approximately 230%, resulting in a profit of HK$2.33 million.
The most recent transaction of a similar unit in the same block occurred in July 2025, when a comparable mid-floor unit sold for HK$3.18 million at HK$8,785 per square foot. This latest deal represents a 5.4% increase in price, or HK$170,000 more than the previous sale.
Hong Lai Garden’s convenient location and layout flexibility have made it a popular choice for buyers. Despite the adverse weather conditions, this transaction demonstrates the resilience of Hong Kong’s property market, where buyers are willing to act quickly to secure desirable units.
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