24 May 2023
"Prince Jewellery Tang" sold a pair of twin houses in Stanley at a breaking price.
After the customs clearance of China and Hong Kong, the luxury housing market has obviously revived, and the construction prices of many old-fashioned luxury properties have reached new highs. According to market sources, Tang Kui Ming, the chairman and chief executive officer of Prince Jewelry & Watch, known as "Prince Tang", or related persons, has just sold a pair of twin houses in Carmel Hill, Carmel Road, Stanley through the company's equity transfer model, involving about $155 million. The area of the unit is 3914 square feet, and the price per square foot is about $39,600, both of which are new highs in housing estates. "Prince Tang" responded to reporters' inquiries and emphasized that the houses are equipped with $6 million luxurious decorations.
According to the data, Carmel Hill is located at No. 12 Carmel Road, Stanley. It was occupied in early 1992 and provided a total of 21 houses with a unit area of 1957 square feet. In 2007 and 2010, "Prince Tang" bought Houses 1 and 2 in sections, involving a total investment of $73.5 million, and later applied to open up a double house with a garden of 748 square feet. It is the most selling unit in the estate. In 2016, the book made a strong book profit of $81.5 million and left the market. The agent said that the unit currently has a monthly lease of $240,000.
Second-hand transactions in Carmel Hill have not been active in recent years. The most recent transaction dates back to the beginning of 2020. The transaction price of House 4 was $63 million, while the average price of each twin house in "Prince Tang" was $77.5 million. The cost of property has increased by 23% in three years .