24 May 2023
The owner of Pine Crest entered the market at a break-through price 13 years ago, and now sells for $83.8 million, hitting a record high
The transaction volume of luxury properties was good, and some of them even recorded top-breaking transactions. In Pine Crest, Repulse Bay, South District, an owner bought a unit at a break-through price about 13 years ago, and sold it now. Not only did he make a profit of $28.8 million on the book, but the property price and sq. ft. price once again hit a record high in the housing estate. According to market sources, Room B, a mid-level and high-rise building in Pine Crest, has a usable area of 1,917 square feet, 3 bedrooms with a study room, and a parking space with a asking price of $86.8 million. The price per square foot has hit a record high in the estate’s history.
It is understood that the original owner invested $55 million to enter the market in April 2010.
Pine Crest is tight on listings, and the current asking price of a middle-floor B room is more than $90 million, so the price of the unit that changed hands this time is competitive and at the market price level.
Pine Crest is located at No. 65 Repulse Bay Road. It is a well-known mansion in the area. The owners are rich or expensive, such as Chen Norman, the former president of the Financial Services Authority, Yu Ting, a celebrity in the broadcasting industry, and Yang Chaocheng, the younger brother of Yang Shoucheng, the boss of Emperor Group.