In "Hong Kong Property," Tai Wai Park Avenue three-bedroom sold for HKD 13.97 million, earning a 14.5% profit on the books over six years

Zhongyuan Real Estate stated that Tai Wai Park Island recorded about 11 second-hand transactions this month. The latest recorded unit is in Block 6B, low floor A, with a usable area of 682 square feet, a three-bedroom layout with an en-suite, which was recently sold for HKD 13.97 million, with a price per usable square foot of HKD 20,484.

It is understood that the new buyer is from mainland China, who found the unit's price reasonable and the layout suitable. They plan to rent it out for a period before moving in for personal use. The market rental value of the unit is HKD 38,000 per month, and the buyer is expected to enjoy a rental return of about 3.3%. The original owner purchased the unit for HKD 12.2 million in 2020 and held it for six years, making a paper profit of about HKD 1.77 million upon selling, with the unit appreciating approximately 14.5% during the holding period