Sales in major estates remained low
Secondary market was hit by the government’s cooling measures, coupled with the U.S. interest rate hike and the red-hot sales of primary market. According to an agency’s statistics, less than 30 transactions were recorded in the 35 major estates last week, reduced 6.7% on a weekly basis. 63% of estates did not record any transactions.
6,300 mortgages on secondary properties reported in Jun
According to market data, in June 2017, 6,300 mortgage loans on completed properties were registered in secondary market, setting a 55-month high. The total number reached 29,700 registrations in the first half of 2017, also setting a 5.5-year high.
Street shop on Argyle Street sold for HKD 84,700 psf
It is reported that Shop A, G/F, 25-27 Argyle Street, Mong Kok, with a gross floor area of about 600 sq ft, has been changed hand for HKD 50.8 million. The shop is rented by a pharmacy for about HKD 84,700 per month and the rental return is 2%. However, the property will be transacted with vacant procession.
Foreclosed villa at No. 1 Oxford Road sold for HKD 200 m
According to market news, Even No. House, No.1 Oxford Road, Kowloon Tong, with a saleable area of 4,908 sq ft, has been transacted for HKD 200 million, or HKD 40,750 per sq ft of saleable area. The transaction of this foreclosed villa has become the largest deal of foreclosed residential properties this year.
(Sources: Vigers Research and market news)