New properties opened at a low price and became the center of the property market. The second-hand market in the same area was under pressure, and “crab goods” immediately increased as well. According to market news, a mid-floor unit in Block 17 of PARK YOHO Genova, Yuen Long, with a usable area of about 834 square feet, a three-room apartment and an employee suite, changed hands for 10.6 million yuan, or about 12,710 yuan per foot square. According to the data, the unit was purchased in 2018, and the book value has depreciated by more than 20%.
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