Realtor Yu HuanRui from Centaline Land's senior district sales manager has noted that with recent high-demand for new developments, the secondary market has experienced a temporary slowdown, allowing some owners to become more flexible with their pricing. A resale deal for a two-bedroom unit at HaI Yi Peninsula, a high-rise complex in the eastern side of Hong Kong, recently concluded at HK$8 million (roughly $1 million USD), marking a steep drop from the initial asking price of HK$8.28 million. The 533-square-foot unit overlooks Ap Lei Chau harbor and is situated on the upper floor, offering Northeast-facing views. After negotiation, the price was reduced by HK$280,000 to HK$8 million, resulting in a floor price of around 15,009 Hong Kong dollars per square foot. The original owner purchased the unit for approximately HK$1 million in 1992 and has now sold it after holding it for 34 years, making a profit of HK$7 million, or a sevenfold increase in value. Nearby, in Ho Yan Peak in Hung Hom, a three-bedroom apartment saw a price drop of HK$8 million after negotiation, selling for HK$31.48 million (about $3.95 million USD) to another local exchanger. The 1376-square-foot apartment, also with a worker’s room, has southeast views of Victoria Harbor and was offered at HK$39.5 million before the price reduction. The owner, who bought the property in 2007 for HK$18.2 million, now makes a profit of HK$13.28 million on the sale, an increase of 73% in value over 19 years.