Quiet trading in 10 major estates over weekend
Less than 10 transactions were recorded in the ten major estates over the weekend, according to the four major estate agencies in Hong Kong. Centaline Property reported only 3 transactions for three straight weekends and zero transaction in seven estates; Midland reported 5 transactions, less than 10 transactions for seven weekends.
270 first-hand sales recorded over weekend
First-hand sales returned to the level of above 100 cases at the past weekend, driven by the new launch of PARK YOHO Genova in Yuen Long, developed by Sun Hung Kai. Yesterday another new launch of L’WANCHAI, developed by L’Avenue International Holdings, also sold out 60%, or 12 units during the first round sales. A total of 270 first-hand sales were recorded over the weekend, surged 12.5 times w-o-w.
Harbour Centre transacted for HKD 30,000 psf
It is reported that Units 10-11, Mid-Floor, Harbour Centre, Wan Chai, with an area of 3,952 sq ft, have been transacted for HKD 120 million, or HKD 30,364 per sq ft. The transaction price was 16% above the record of HKD 26,000 per sq ft last year and reached HKD 30,000 per sq ft for the first time.
13% rental increase on Dundas Street
It is reported that Shop 3, G/F, 53-55 Dundas Street, Mong Kok, with a gross floor area of 370 sq ft, will be leased to a new tenant for HKD 68,000 per month, or about HKD 184 per sq ft. It has been leased to a Taiwan-style drink shop till October 2017, with a monthly rent of HKD 60,000. The new lease recorded 13% rental increase.
(Sources: Vigers Research and market news)