Redevelopment Site in Sai Ying Poon Fetch Record Breaking Prices

The Urban Renewal Authority (URA) has made an offer to buy 101 Units in a Sing Ying Poon Block of Apartments between Sung Hing Lane and Kwai Hing Street.

The prices offered comes to HK$ 23,568 per sq ft which means a vendor of a  500 sq ft flat will receive HK$ 12 Million which will be the highest price offered.

Researchers predict that once redeveloped properties will be valued at more than HK$ 30,000 per sq ft.  This announcement was made after home prices in the worlds least affordable city continue to rise despite the government imposing multiple cooling measures with little to no effect.

Redevelopment Site In Sai Ying Poon

Source: Google

Redevelopment Site In Sai Ying Poon Maps

Source: Google