While property speculators may be back in action, they have not returned in force.
This was reflected in the re-sale activity of units sold at Park Island in Ma Wan, according to agents.
Centaline Property Agency associate sales director Fred Chow Wing-fei said more than 30 Park Island units were traded in the secondary market in the past three days.
'All secondary transactions at Park Island are profitable.''
Highest gross profit achieved by a first-hand buyer from a re-sale exceeded HK$400,000.
'Actually the buyer can cash in a net profit of less than HK$300,000 after deducting miscellaneous costs such as stamp duty and agent fee.''
The profit realised by these buyers, who flipped the properties within a few days, ranged from HK$70,000 to HK$300,000 each, he said. The majority had a profit of between HK$80,000 and HK$150,000.
