Industrial and commercial sales rebounded 70%
According to market data, 8,972 industrial and commercial transactions were registered in 2017, totaling more than HKD 160 billion. Overall transaction volume and value surged 70% on a yearly basis. Given a positive economic outlook and improving retail sales, industrial and commercial transactions are expected to increase 10% this year.
Average price of second-hand HOS flats up 20%
According to an estate agency’s statistics, the second-hand Home Ownership Scheme (HOS) flats recorded 4,486 registrations in 2017, down 10% y-o-y. Yet, total consideration rose 8% y-o-y to HKD 19.775 billion in 2017, setting a 22-year high. The average transaction price per unit was HKD 4.408 million, hiked 20.1% on a yearly basis.
C-BONS International Centre sold for HKD 2.5 b
A notable commercial transaction was recorded in Kowloon East. Nine floors of C-BONS International Centre, Kwun Tong, with an area of 17,300 sq ft on each floor, have been sold for HKD 2.5 billion or HKD 16,000 per sq ft. The transaction price reached a new high for strata-title office market in Kowloon East.
Hsin Kuang Centre in Wong Tai Sin transacted at HKD 990 m
G/F – 4/F, Hsin Kuang Centre, 120 Lung Cheung Road, Wong Tai Sin, with a total GFA of 82,348 sq ft, have been changed hands for HKD 990 million or HKD 12,000 per sq ft. Rental income is approximately HKD 2.86 million per month if all units are leased out, representing a yield of 3%.
(Sources: Vigers Research and market news)