Hong Kong Property Sale Reflects Significant Appreciation Over Two Decades

A prominent investor has continued to offload assets, with recent data indicating a notable transaction. According to Ming Pao, the ground floor shop A at 1-11 Holland Street, Kennedy Town, owned by the son of Wing Lung Group founder, Lun Yiu-Kei, was sold for HKD 8.6 million in mid-month. The shop spans approximately 1,100 square feet, translating to a price of HKD 7,818 per square foot. The previous owner acquired the property in August 2004 for HKD 3.6 million, holding it for over 21 years. This sale reflects a paper profit of approximately HKD 5 million, marking a property appreciation of about 139%.