Yuen Long South expected to provide 28,500 new flats
The Planning Department and the Civil Engineering and Development Department yesterday announced the Yuen Long South Recommended Outline Development Plan. The Development will provide 28,500 new flats and accommodate 88,000 people, with the support of infrastructure, public utilities and commercial and community facilities. It would generate about 10,500 employment opportunities.
Sales of second-hand HOS flats reached 17-month low
According to market data, in July, only 322 registrations of second-hand Home Ownership Scheme (HOS) flats, totaling HKD 1.403 billion, were recorded in both free market and secondary market, fell 22.2% and 25.3% respectively, compared to 414 registrations, totaling HKD 1.878 billion in last month. The number of registrations and consideration reached the lowest levels in 17 months and 16 months, respectively.
40% rent slash at Sai Yeung Choi Street South
It is reported that entire block of 1L-1M Sai Yeung Choi Street South, Mong Kok, with a GFA of 4,800 sq ft, has been leased to China Mobile, a telecommunication company, for HKD 1 million per month, or HKD 208 per sq ft. The rent is HKD 800,000 or 44% lower than the previous rent. The shop was previously rented by Chow Tai Fook, a local jewellery chain store.
Oxford Road villa without title deeds sold for HKD 144 m
It is reported that No.12 House, No.1 Oxford Road, Kowloon Tong, was sold at HKD 144 million in an auction yesterday. It has become the city’s largest transaction of property without proper title deeds. The original owner purchased the property at HKD 168 million in 5 years ago, it depreciated HKD 24 million, or about 14.3%.
(Sources: Vigers Research and market news)