Number of estate agent rose to historic high
According to the latest statistics from the Estate Agents Authority, there were 37,814 estate agent’s licenses issued as at the end of June this year, up about 1.1% or 410 individuals more than the May’s figure of 37,404 individuals. The figure also broke the historic record of 37,568 individuals in December 2015.
To Kwa Wan redevelopment costs for HKD 15,400 psf
The property acquisition for three redevelopment projects in To Kwa Wan will be proposed to affected property owners by the Urban Renewal Authority (URA) this Friday. The acquisition price is calculated as HKD 15,383 per sq ft of saleable area, based on the policy of “seven-year-old flat” for affected owner-occupiers. It has been the new high acquisition price offered by URA.
Lippo Centre transacted for HKD 32,352 psf
According to Land Registry’s data, Unit 2, 12/F, Lippo Centre Tower 1, Admiralty, with a saleable area of 1,920 sq ft, has been transacted for HKD 97.8 million. The original property owner purchased the property at HKD 56.848 million in May 2015. The agency said that the property has a gross floor area of 3,023 sq ft and the price is HKD 32,352 per sq ft.
A&F will lease a 7,000-sq-ft shop in Harbour City
American fashion brand, A&F (Abercrombie & Fitch) last year announced that the group would terminate prematurely the lease of the giant shop at Pedder Street, Central. It is reported that the company has rented a shop in Harbour City, Tsim Sha Tsui, with an area of 7,000 sq ft. The area is around 70% less than the original shop area of 25,600 sq ft.
(Sources: Vigers Research and market news)