|Potential buyers check out Upper East but many have given up down payments|
|Kingswood Villas in Tin Shui Wai|
"This is the first deal for North Point Hill so far this month," said Terry Chan, associate director at Centaline Property Agency.
In Tin Shui Wai, a 546 sq ft flat in Kingswood Villas, the city's most active housing estate in terms of turnover, changed hands for HK$3.92 million, the first unit to be sold for less than HK$4 million in the past few years.
Real estate agents report the secondary market has plunged to a 20-year low.
This is good news for first-time home buyers, but it's a waiting game now, trying to figure out how low prices will go... who's in?