BSD-related transactions rose to 325
Inland Revenue Department announced that residential transactions related to Buyer’s Stamp Duty (BSD) amounted to 325 in August, up 27% compared with 256 cases in July and achieved a new high since the Government raised the property stamp duty in November last year. Tax revenue from BSD dropped 12.1% m-o-m to HKD 630 million, representing a smaller amount of tax of each transaction.
Rent in major estates hits new high for 6 straight months
According to an estate agency’s statistics, the average rent in the 107 major estates was HKD 35.3 per sq ft of saleable area in August, edged up 0.3% over HKD 35.2 in July and hitting new highs for six straight months. Of which, rent in City One Shatin increased the most at 2.3% monthly, ranked top among the 10 major estates of the city.
High-Floor of Billion Centre transacted at HKD 86.33 million
It is reported that an Adjacent Unit, 27/F, Billion Centre Tower A, 1 Wang Kwong Road, Kowloon Bay, with a GFA of 6,641 sq ft, has been transacted at HKD 86.333 million, or HKD 13,000 per sq ft. The property appreciated about 1.9 times in 8 years as the original owner purchased it at HKD 29.77 million in 2009.
Retail rent on Haiphong Road down 33% to HKD 733 psf
According to market sources, the leasing agreement of Shop A-G, G/F, 45 Haiphong Road, Tsim Sha Tsui, with an area of 818 sq ft, has been renewed by Bonjour Cosmetics at HKD 600,000 per month, or HKD 733 per sq ft, 33% lower than the previous rent. The monthly rent during the retail peak three years ago was HKD 1.2 million, and then it cut further to HKD 900,000 last year.
(Sources: Vigers Research and market news)