Better capital gains for second-hand transactions to boost home prices–UOB

The 900 units in Kai Tak Sky project were largely sold due to attractive prices.

Better capital gains for second-hand transactions will support prices of Hong Kong residential properties, according to a UOB report.

For instance, the report noted that Phase 1 of SHKP's Cullinan Sky project in Kai Tak comprised 900 units and was largely sold out due to attractive prices.

For the 14 transactions with available historical price data, 13 or 93% recorded positive returns, with an average profit margin of 11.1%.

“According to our record, during the first four months of the year, only 10% of the 98 secondhand transactions in Kai Tak had positive returns,” UOB said.