30 Aug 2023
Tang Shing Bor's family sold Repulse Bay luxury property for $82 million and earned more than $10M in 7 years
"Shop King" Tang Shing Bor's family continued to sell. It is reported that they just sold the middle-level unit in Block 3 of Repulse Bay Garden with two parking spaces for about $82 million, which is nearly 20% lower than the asking price. The unit was purchased in 2016 for $70.38 million. , The book earned more than $ten million. According to market sources, Tang Shing Bor bought the mid-level unit in Block 3, Repulse Bay Garden in 2016, with a usable area of 2,576 square feet, 4 rooms, and two parking spaces. It was put on sale for 85 million yuan, and it is said that it was finally sold for $82 million, so the price per square foot is about $32,000.
The unit has been in stock for about 7 years, and the book earned about $11.62 million, an appreciation of 17%. The unit was originally mortgaged by OCBC Wing Lung Bank in 2016, and then re-mortgaged to another bank in 2019.