Five projects applied for pre-sale consents in June
The Lands Department received five pre-sale consent applications for 2,786 units in June, up 71% m-o-m (May: 1,628 units). A total of 12,763 applied for pre-sale consents in 1H, and it increased by 76% y-o-y.
Private completion up 50% m-o-m in May
The Rating and Valuation Department announced that the private residential completion recorded 3,754 units in May, up 50% m-o-m (April: 2,508 units). It has been the largest completion volume in 17 months. The first five months of 2020 recorded 10,006 completions, dominating 48% of the overall completion volume of the year.
The Redhill Peninsula sold with HKD 10 m loss
Even no. house, Palm Drive, The Redhill Peninsula, Tai Tam, with a saleable area of 2,583 sq ft, has been changed hands at HKD 60 million or HKD 23,229 per sq ft. The original owner purchased the property at HKD 70 million in 2012, making a book loss of HKD 10 million and a 14.3% depreciation.
Duplex unit of Double Cove transacted at HKD 50.58 m
Duplex Unit A, G/F-1/F, Tower 16, Double Cove Starview Prime, Phase 3, Double Cove, Ma On Shan, with a saleable area of 3,112 sq ft, a 1,072-sq-ft-garden and two parking spaces, has been transacted at HKD 50.58 million or HKD 16,253 per sq ft.
(Sources: Vigers Research and market news)