1br unit at Tung Chung’s Visionary sells for record $5.6m

One-bedroom units are in heavy demand at Tung Chung’s Visionary complex, with the price this month reaching a new high of $12,584 per sq foot.

A one-bedroom apartment in tower 10, with a usable area of 445 sq feet and lacking a sea view, sold last week for HK$5.6 million. The previous owner paid HK$3.67 million in December 2013.

The new buyer is an investor who is likely to lease the property for approximately HK$11,000 per month, Economic Times reported.

Nine Visionary flats changed hands in May, including six one-bedroom apartments, commanding prices of HK$5.0-5.6 million.

Tin Gwok-fai, Midland real estate manager at the Coastal Skyline branch, said Visionary’s stock is limited, in particular for one-bedroom units. Most of those sold will be leased, he said.

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