Yuen Long YOHO Series Records Multiple Million-Dollar Transactions as Upgraders Drive Market
AM730 · 1 SOURCESabout 1 hour ago2 MIN
Summary
Two major secondary market transactions in Yuen Long's prestigious YOHO series have highlighted robust buyer demand in the New Territories. A three-bedroom suite at YOHO Midtown sold for HK$12.38 million, while a comparable unit at GRAND YOHO changed hands for HK$11.48 million. The Yuen Long sub-market recorded 58 transactions in the current month, up nearly 30 percent year-over-year. Property agents report that upgraders are actively purchasing units in well-managed developments with excellent transport connectivity.
Key Points
- A high-floor unit at Tower 6, YOHO Midtown with 898 sq ft of saleable area sold for HK$12.38 million (HK$13,786 per sq ft)
- The YOHO Midtown unit features a three-bedroom suite plus storage room with mountain views; the seller purchased it in 2017 for HK$10.4 million, earning HK$1.98 million profit (19% gain) after nine years
- At GRAND YOHO Phase 1, a mid-floor three-bedroom suite of 703 sq ft sold for HK$11.48 million (HK$16,330 per sq ft) with pool views
- The GRAND YOHO buyer found the property through a real estate platform and was attracted by the development's integrated mall and direct MTR connection
- The original owner bought the GRAND YOHO unit in 2016 for approximately HK$10.73 million and earned HK$745,300 profit (6.9% gain) after 10 years
Why It Matters
The surge in Yuen Long transactions reflects Hong Kong's broader secondary property market recovery, driven by upgraders seeking larger units in established developments . As major infrastructure projects continue to enhance accessibility to New Territories districts, areas like Yuen Long are becoming increasingly attractive to families requiring practical layouts and comprehensive amenities .
The surge in Yuen Long transactions reflects Hong Kong's broader secondary property market recovery, driven by upgraders seeking larger units in established developments . As major infrastructure projects continue to enhance accessibility to New Territories districts, areas like Yuen Long are becoming increasingly attractive to families requiring practical layouts and comprehensive amenities .