Property registrations rose 5% to 7,902 in June
According to the Land Registry, a total of 7,902 property registrations were recorded in June, rose 4.9% on a monthly basis. Among which residential registrations amounted to 6,100 cases, 6.4% higher than the 5,732 cases in May. Total consideration was HKD 59.1 billion, rose 10.4% on a monthly basis. Both transaction volume and value showed an uptrend.
Sun Hung Kai proposes to build 2,031 units in Tin Shui Wai
Sun Hung Kai Properties has proposed a new plan for the comprehensive residential project in Tin Shui Wai Planning Area 112. Some residential floor area will be changed to commercial use and the number of home units will reduce to 2,031. Villa design will also be added. The plot has a site area of 813,000 sq ft, 1,942 flats and 252 villas were approved to build last year, involving 2,194 units in total.
Increasing industrial and commercial transactions in 1H17
A total of 4,402 industrial and commercial registrations were recorded in the first two quarters, surged 118% y-o-y. Total consideration also increased by 93.6% y-o-y to HKD 47.395 billion during the period. Commercial transactions recorded the largest increase, with a total of 1,209 registrations, involved HKD 20.148 billion.
Serenade sold for HKD 21 m, loss HKD 1.39 m
It is reported that a mid-floor unit, Block 2, Serenade, Tai Hang, has been sold for HKD 21 million, the original owner has made a book loss of HKD 1.39 million in 7 years. Whilst a mid-floor duplex unit, Radcliffe, Pok Fu Lam, was sold for HKD 60.2 million last month, the original owner made a book profit of HKD 2.2 million. If considering the expenses like stamp duties and agent commission etc., the actual loss was about HKD 600,000.
(Sources: Vigers Research and market news)