Recently, the Wong Kong Sheung Da Plaza has seen a rare case of short-term gain in property trading. A 100 square foot unit on the second floor, purchased for 300,000 HKD in June, was resold at 380,000 HKD in late October, marking a profit margin of nearly 27% in just four months. S8 at the second floor of Wong Kong Sheung Da Plaza, with an area of 78 square feet, was sold for 380,000 HKD, equating to a price per square foot of 4,872 HKD.
The previous owner had acquired it for 700,000 HKD in May 2010, resulting in a significant loss of 400,000 HKD or approximately 57% when sold for 300,000 HKD in June of the same year. The current selling price is also 320,000 HKD lower than the 2010 transaction price, or about 46% less. Over the years, the plaza has frequently seen losses, with a 56 square foot unit S28 selling for 330,000 HKD in late September, at a price per square foot of 5,893 HKD. The original owner had bought it for 1,480,000 HKD in July 2011, representing a loss of 1,150,000 HKD or nearly 78% after holding for 15 years.
Previously known as " iPhone paradise," Wang Kong Shun Da Plaza thrived during the iPhone trading boom in the early 2010s, attracting a large number of traders. However, with the narrowing of the price gap between water and store-bought iPhones, the trade in the area has significantly declined. The plaza, originally constructed as the Shun Tak Department Store, was divided into approximately 350 units in the early 1990s. Since then, it has transformed into a hub for mobile phones and digital products.