The second-hand property market in North Point has been thriving, boosted by the successful sale of new developments in the area. Braemar Hill Mansions, a well-known luxury residential complex, has recorded three transactions since the beginning of the year. The latest involves a three-bedroom unit sold for HK$26.68 million, including a parking space, at an average price of HK$20,682 per square foot. The original owner, who held the property for over 30 years, made a remarkable HK$15.88 million profit.
According to Midland Realty, the transacted high-floor unit is located in Block 2’s Unit A of Braemar Hill Mansions. It has a usable area of 1,290 square feet, featuring a three-bedroom layout with one en-suite. The unit offers both sea and mountain views and was sold at market value.
The original owner purchased the unit in 1994 for HK$10.8 million. Over the 30 years of ownership, the property appreciated by 1.5 times, resulting in a substantial paper gain of HK$15.88 million.
So also noted that second-hand transactions in the North Point area remain active, with over 70 deals recorded this month alone. Braemar Hill Mansions itself has seen three transactions this year.
Braemar Hill Mansions, located on Braemar Hill Road in North Point, is a prominent luxury development in the area.