Kennedy Town Ground Floor Prices Increase by 139% in 21 Years - Impressive Trading

2026-02-27 20:02:52

Abstract generation in progress

A ground-floor property in a prime location in Hong Kong has just been sold for twice the price it was purchased 21 years ago. According to Ming Pao, the ground-floor shop at 1-11 Holland Street, Kennedy Town, was recently transferred for HKD 8.6 million. This property is owned by Lun Yiu-Kei, the son of the founder of Wing Lung Group, and the figures in this transaction clearly reflect the growth potential of commercial real estate in Hong Kong.

Detailed Transaction Information

This ground-floor shop has an area of approximately 1,100 square feet, corresponding to a price of HKD 7,818 per square foot. The previous owner held the property since August 2004, when it was purchased for HKD 3.6 million. Selling it for nearly HKD 8.6 million, the owner realized an unrealized profit of about HKD 5 million from this transaction.

Impressive Price Increase Reflecting Market Trends

A 139% increase over more than 20 years demonstrates that the value of ground-floor properties in key areas of Hong Kong remains highly attractive. The sale by a prominent investor may reflect a strategic shift in investment approach as well as liquidity needs. Such transactions are often watched by the real estate community, as they provide valuable insights into the actual value of commercial assets in prime locations.

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