Unemployment rate reached 3-year low
According to the latest labour force statistics released by the Census and Statistics Department, the unemployment rate (provisional) edged down from 3.2% in March – May to 3.1% in April – June, setting a 3-year low. The underemployment rate remained unchanged at 1.2% over the same periods.
Continental purchased Wan Chai Road commercial plot at HKD 1.18 b
Continental Holdings Ltd announced that the company has purchased a commercial plot on 232 Wan Chai Road at HKD 1.18 billion from Phoenix Property Investors and CSI Properties Ltd through company transfer. The plot has a gross floor area of about 87,000 sq ft and the accommodation value was about HKD 13,600 per sq ft.
The Peak & Southern District second-hand sales up 28% q-o-q
A total of 32 second-hand luxury properties were transacted in the Peak and Southern District in Q2/2017, up 28% q-o-q, according to an estate agency’s statistics. Total consideration decreased by 19.11% to HKD 3.7 billion. Some of the transactions through company transfer were not disclosed, otherwise the consideration amount should remain steady over the same period.
North Point Jolly House leased at HKD 53 psf, with 9% yield
It is reported that Flat B, Low-Floor, Jolly House, North Point, with a saleable area of 242 sq ft, has been leased out for HKD 12,800 or HKD 53 per sq ft of saleable area. The property is a one-room unit with broad views. The owner purchased the property at HKD 1.63 million in September 2008 and the rental return is over 9%.
(Sources: Vigers Research and market news)