Hong Kong’s property market, even as showing signs of recovery, continues to present a mixed picture for homeowners. A recent sale at The Met. Blossom, a residential complex in Ma On Shan, highlights the challenges some sellers face, with a unit selling at a significant loss after less than six years of ownership. The transaction underscores the volatility that remains in certain segments of the market, even as broader indicators suggest stabilization.
The property, a 224-square-foot open-plan unit in Block 1, sold for HK$2.88 million (approximately US$369,000) on February 20, 2026, according to reports from Hong Kong 01. This represents a 31% loss for the seller, who originally purchased the unit in June 2020 for HK$4.15 million. The loss of HK$1.27 million is a stark reminder of the risks associated with short-term property investments.
Significant Loss Reflects Market Conditions
The sale at The Met. Blossom, located at 9 Ma Kin Street in Ma On Shan, is particularly noteworthy as it represents a substantial discount compared to recent market trends. While overall property values have seen some improvement, this transaction suggests that certain properties, particularly those purchased during peak periods, are still susceptible to significant price corrections. The unit’s original asking price was HK$3.4 million, ultimately reduced by HK$520,000, a 15% reduction, to secure the sale.
According to Century 21’s Ki Fung Property branch manager, Wong Chung-sun, the unit’s north-facing orientation and view of the street and mountains were factors in attracting a buyer. However, the substantial loss incurred by the seller highlights the challenges faced by those looking to exit the market after a relatively short holding period. Hong Kong 01 reported that the final price equates to a per-square-foot cost of HK$12,857.
Ma On Shan Market Trends
The Met. Blossom, completed in December 2017, comprises two towers and 640 units. The complex is conveniently located within a six-minute walk of Ma On Shan MTR station. Current asking prices for units in the development range from HK$2.85 million to HK$8.68 million, with recent transactions ranging from HK$12,445 to HK$22,173 per square foot. You’ll see currently 24 units for sale and 44 for rent.
The broader Ma On Shan property market has experienced varying degrees of performance. According to data from Centanet, the average per-square-foot price in Ma On Shan decreased by 7.71% in January 2026, falling to HK$11,784. This contrasts with increases seen in nearby areas like Sun Yat Memorial Park (a 0.51% increase to HK$13,546 per square foot) and Kam Fung Garden (a 3.33% decrease to HK$8,134 per square foot). This suggests that Ma On Shan is experiencing a more pronounced correction than some other areas.
Recent Sales and Market Sentiment
Other recent transactions in the area indicate a softening of prices. On.cc reported that some units in private housing estates in Ma On Shan are now being sold for prices starting with “2,” a level not seen in recent years. This reflects a growing sense of urgency among sellers and a willingness to accept lower prices to close deals.
The situation at The Met. Blossom is not isolated. Hong Kong 01 also reported a separate case of a one-bedroom unit at The Met. Blossom selling at a loss of HK$40,000 after being held for ten years, further illustrating the challenges facing investors in the area.
The school net zoning for The Met. Blossom is Primary School Net 89 and Secondary School Net Sha Tin. The property is managed by Highda Management Limited and was developed by Hong On Group.
Looking ahead, the performance of the Ma On Shan property market will likely be influenced by broader economic conditions and government policies. The completion of new housing projects in the area, such as those in West Sha Tin, could also impact prices and demand. Potential buyers and sellers are advised to closely monitor market trends and seek professional advice before making any decisions.
This article provides information about recent property transactions in Hong Kong and should not be considered financial advice. Please consult with a qualified financial advisor before making any investment decisions.
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