The real estate market in Yuen Long is experiencing a vibrant resurgence, as demand for both new and secondary properties continues to soar. In March 2025, the secondary market recorded nearly 10 transactions in a single day, surpassing 100 transactions so far this month, according to the US Property Agency.
One notable sale involved a high-rise G unit in Residence 88, which was sold for HKD 10.08 million. This unit boasts a usable area of 934 square feet, featuring three bedrooms and a helper's room. The sale price translates to approximately HKD 10,792 per square foot. The original owner had purchased the unit back in February 2013 for about HKD 9.7479 million, resulting in a slight profit of approximately HKD 332,100.
Another development, Grand Yoho, has also been active, recording around six transactions in March alone. Just recently, it logged two sales in one day, including a high-rise A unit in Block 1, which has a usable area of approximately 498 square feet and two bedrooms. This unit was acquired for HKD 6.9 million, equating to a price per square foot of about HKD 13,855. The original owner purchased it in September 2016 for approximately HKD 6.1162 million, leading to a profit of around HKD 783,800, which represents an appreciation of approximately 13%.
The overall atmosphere in the housing market remains optimistic, with many first-time buyers entering the fray. The recent surge in property transactions indicates a growing willingness among buyers to engage with the market, particularly in the secondary sector. This trend is partly fueled by the sales of various mid-level units across different developments, with many properties being sold at or slightly above market prices.
A mid-level unit in Butterfly Valley Peak was sold for HKD 4.2 million, with a price per square foot of HKD 9,071, approximately 5% above the market price. This demonstrates the competitive nature of the current market, where buyers are willing to pay a premium for desirable properties.
In Yuen Long, a high-level F unit in The 映御, covering about 385 square feet, was recently snapped up by a first-time buyer for HKD 3.88 million, translating to a price per square foot of approximately HKD 10,078. This sale is particularly noteworthy as the unit's selling price is below HKD 4 million, allowing the buyer to benefit from the HKD 100 stamp duty discount.
Meanwhile, a mid-level B unit in Block 11 of Butterfly Valley Peak, which was on the market for about a week, was sold for HKD 4.2 million after the owner agreed to a price reduction of HKD 100,000. This transaction reflects the current trend of buyers seeking value while also demonstrating the willingness of sellers to negotiate.
In Cheung Sha Wan, a mid-level A unit in Tower 3 of Grand Marine, with an area of approximately 502 square feet, was initially listed at around HKD 6.8 million. After about two months on the market, it was sold for HKD 6.55 million, showcasing the ongoing demand for properties in this area.
Additionally, a mid-high-level D unit in Block 5A of Park Summit in Tseung Kwan O was on the market for about four months at HKD 6.65 million and was recently purchased by a first-time buyer from outside the district for HKD 6.25 million after negotiations.
In Tai Kok Tsui, a high-level A unit in Block 8 of Harbour Pinnacle was sold to a first-time buyer for HKD 15.8 million, indicating that even in higher price brackets, there remains significant interest from new buyers.
Lastly, a low-level A unit in Block 23 of Emerald Garden in Tuen Mun was initially listed for HKD 6.6 million and ultimately sold for HKD 6.28 million, including a parking space, which is slightly lower than the market price by 1%. This sale demonstrates that while there are instances of properties selling for less than expected, the overall market remains robust.
Overall, the Yuen Long property market is showing signs of strength, with a notable increase in activity. As buyers continue to flock to the secondary market, the trend of competitive pricing and negotiations is likely to persist, reflecting a healthy interest in real estate investment in the region.
