Sales in major estates remained low over weekend
Secondary residential market remained quiet. Over the past two days, Centaline Property reported 7 transactions in the 10 major estates, increased by one case on a weekly basis. Among which South Horizons and Kingswood Villa accounted for 2 transactions respectively. Meanwhile, Midland Property said that there was no transaction recorded in half of the 10 major estates.
1,200 new flats awaiting for sale in Aug
At least 6 new housing projects will be launched in August, involving about 1,200 units. According to market sources, novi, a small-scale housing project in Mong Kok developed by Lai Sun Group, received over 600 applications since its launch from last week. It was oversubscribed by 9 times.
A shop at Burrows Street transacted for HKD 55 m
It is reported that Street Shop, Bel Trade Commercial Court, 3 Burrows Street, Wan Chai, with an area of 1,290 sq ft, has been transacted for HKD 55 million, or HKD 42,600 per sq ft. The shop has been leased to a cart noodles restaurant at HKD 150,000 per month. The rental return is about 3.27%.
Mid-Floor of Highcliff sold for HKD 145 m
According to market news, Flat A, Mid-Floor, Highcliff, Mid-Levels East, with a saleable area of 2,739 sq ft and 3 parking spaces, have been sold for approximately HKD 145 million, or HKD 53,000 per sq ft. The original owner purchased the unit at HKD 81.1 million in 2007, making a book profit of HKD 63.9 million, or appreciated 80%.
(Sources: Vigers Research and market news)