First-hand registrations reached HKD 170 b
According to the Land Registry, 13,060 first-hand private residential transactions were registered this year, as of September 18. The consideration was HKD 171.83 billion, just 8.8% less than HKD 188.41 billion last year as a whole. The whole year consideration is expected to reach a historic new high given that a few more new projects will be put up for sale by the end of this year.
HKCSS to introduce Community Housing Movement
The Hong Kong Council of Social Service (HKCSS) has introduced a transitional shared housing project, called the Community Housing Movement, for those low-income households waiting for public housing for at least 3 years and living in poor conditions. Currently 26 landlords have provided 332 flats for the movement, at least 34 of which would be available by the end of this year.
Lippo Centre transacted for HKD 31,000 psf
It is reported that Unit 08, High-Floor, Lippo Centre Tower 2, Admiralty, with an area of 1,653 sq ft, has been sold for HKD 51.2 million, or HKD 31,000 per sq ft with vacant possession. The yield is about 2.5% provided that market rent of the unit is over HKD 65 per sq ft, said by an agency. The original owner purchased the unit at HKD 34.71 million in 2013, making a book profit of HKD 16.49 million in 4 years.
Leasing activity of dental clinic was active
Leasing activity of dental clinic was active in recent months. Shop 8, G/F, 28 Factory Street, Shau Kei Wan, with an area of 400 sq ft, has been leased to a dental clinic for HKD 26,000 per month or HKD 65 per sq ft, 60% higher than the previous rent. North Point also posted at least 2 similar leasing renewals in the district.
(Sources: Vigers Research and market news)