2023-11-26 08:36:16
Maiami Bay in Tuen Mun recorded loss-making transactions. Quanhai’s newly-furnished three-bedroom apartment changed hands for NT$8.68 million. The original owner had used it for three years and left the house with a book loss of NT$360,000 or 4%.
Property prices have fallen back and interest rates are close to peaking, attracting home owners to enter the market. Second-hand transactions have become increasingly active recently. Liu Junxiong, senior divisional sales manager of Centaline Properties Tuen Mun Pier Branch, said that the Tuen Mun Pier area has recorded about 30 sales transactions this month. The branch recently facilitated the change of mid-to-high-rise Room A in Tower 1 of Miami Bay, with a usable area of 784 square feet. The three-bedroom apartment with a separate worker’s room was priced at 9.5 million yuan when it was put on the market in October. In November, the price was reduced to 9.3 million yuan, and recently it was reduced to 8.8 million yuan. It was soon negotiated for purchase, and finally it was reduced by another 120,000 yuan to 8.68 million yuan. For sale, the equivalent price per square foot is NT$11,071, a cumulative decrease of NT$820,000 or approximately 8%.
The tax for new buyers to increase their holdings is halved to 7.5%
Liu Junxiong pointed out that the new buyer is the owner of a two-bedroom unit in the same housing estate. Since he has to help raise children and hire domestic help, he needs a larger living space. Also, because he has lived in the housing estate for many years, he has already adapted to the environment in the area, so he decided to move to the original housing estate. Bought another group for personal use. The buyer saw that the above address had a panoramic sea view and was equipped with new decorations and furniture and electrical appliances. He was considering taking over the deal soon. Under the New Residential Ad Valorem Stamp Duty (NRSD) measure, the tax was halved to 7.5%. He expected to buy a new home. The family needs to pay about 650,000 yuan in taxes. As for the original owner, he bought the unit at the above address for NT$9.04 million in 2020 and has resold it for self-use for 3 years. The book loss was NT$360,000, and the unit depreciated by 4% during the period.
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The original article was published on AM730
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