Agile Chairman Chen Zhuolin Sells Hong Kong Flat at Significant Loss

Tuesday, 13 August 2024, 10:20

Chen Zhuolin, the chairman of Agile, has sold a three-bedroom flat in Kowloon Tong for HK$14.3 million, incurring a staggering **54% loss** compared to the **HK$31 million** he initially paid in 2018. The flat, which spans **1,239 sq ft**, highlights the challenges facing the real estate market in Hong Kong amid economic pressures. This sale reflects broader trends in property valuations and market sentiment in the region.
South China Morning Post
Agile Chairman Chen Zhuolin Sells Hong Kong Flat at Significant Loss

Agile's Recent Property Sale

In a notably declining market, Chen Zhuolin, chairman of Agile, sold a three-bedroom flat located in Kowloon Tong for HK$14.3 million. This sale marks a significant drop of 54% from the original purchase price of HK$31 million in 2018.

Market Challenges

The 1,239 sq ft property, situated in Hamburg Villa, reflects ongoing challenges within the Hong Kong real estate sector. As the market grapples with economic uncertainties, such drastic price reductions are becoming more common.

Conclusion

This transaction underscores the shifting landscape of property values in Hong Kong, raising questions about future investments and market recovery.


This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


Related posts


Newsletter

Get the most reliable and up-to-date financial news with our curated selections. Subscribe to our newsletter for convenient access and enhance your analytical work effortlessly.

Subscribe