Industrial transactions surged 91% in Jan-Aug
Industrial properties recorded 3,264 transactions in January to August, surged 91% y-o-y, where transactions of small value dominated the market. Total consideration amounted to HKD 21.755 billion, rose 55.6% y-o-y. With the Government planning to initiate the revitalisation of industrial buildings again, the outlook of industrial property market is bright.
Transactions in secondary market increases
The 10 major estates recorded 27 secondary transactions in the past weekend, rose 92.8% w-o-w. According to the statistics of the 4 major agents, 3 of them recorded an increase in transactions. Affected by the launches of new projects and the Government studying the policy of starter homes, wait-and-see attitude is adopted in the market. The increase in transaction volume is expected to be limited.
Grand Austin transacted at HKD 30,000 psf
According to market news, Flat D, High-Floor, Block 2, Grand Austin, Tsim Sha Tsui, with a saleable area of 889 sq ft, has been transacted at HKD 26 million, or HKD 29,246 per sq ft. The original owner purchased the unit at HKD 18.25 million in July 2014, earning a book profit of HKD 7.75 million, or 42%.
The Royal Oaks leased at HKD 68,000
Odd No. House, Kensington Path, The Royal Oaks, Sheung Shui, with a saleable area of 3,003 sq ft, has been put up for lease at HKD 85,000 in August. The house was finally leased with the rent slashed by 20% to HKD 68,000, or HKD 22.6 per sq ft. The owner purchased the house at HKD 24.38 million in 2007.
(Sources: Vigers Research and market news)