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Hong Kong Carpark Lot Sells for Record HK$6 Million and Net Seller HK$2.6 Million Profit in 2 Years

Hong Kong Carpark Lot Sells for Record HK$6 Million and Net Seller HK$2.6 Million Profit in 2 Years

A single Hong Kong carpark lot has been sold for a record HK$6 Million ($764k), with the seller gaining HK$2.6 Million profit (+76%) in just less than 2 years.  The seller had bought the carpark lot at Sun Hung Kai Properties’ Ultima apartment complex in the Kowloon districtfor for HK$3.4 million 21 months before, in September 2017.

” Hong Kong Carpark Lot Sells for Record HK$6 Million and Net Seller HK$2.6 Million Profit in 2 Years “

In US dollar, the seller earned $331k (+76%) from the sale price of the carpark lot at $764k.  The purchase price of $433k was made 21 months ago, in September 2017.  HKD is pegged to USD at around HK$7.8 (with a lower and upper band of HK$7.75 to $7.85) by Hong Kong Monetary Authority since 17th October 1983.

HKDUSD Exchange Rate

  • HK$1 = $0.1274 (7.85)
  • HK$1 million = $127,449 (7.85)
  • HK$ is pegged to USD at around HK$7.8 (7.75-7.85)

Source: SCMP, CNN

 

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