First industrial land sale in Tsuen Wan over 31 years
The government introduced last week an industrial site at Ma Kok Street, Tsuen Wan for the upcoming land sale programme. It is the first industrial site in Tsuen Wan put up for land sale in 31 years. Market valuation ranges from HKD 500 million – 900 million. Industrial prices in Tsuen Wan East are expected to rise in a synergy with a number of new housing projects in the district.
Mortgage registrations declined in Sep
According to the Land Registry’s statistics, 713 equitable mortgages were registered in September, down 43% m-o-m. While mortgages on completed properties has dropped 14% m-o-m to 7,800 cases. Not many large-scale projects were launched during the period and the market expects registrations will rebound in the coming few months.
Number of estate agent reached 38,300
According to the Estate Agents Authority’s statistics, there were 38,294 estate agent’s licences issued as at Sep 30, 130 individuals more than the August’s figure. It has been rising for 5 consecutive months, with a cumulative growth of 2.6% or 988 individuals. The number of overall property transactions was 7,525 in September, meaning that 5 agents were competing for 1 transaction.
Silvercord transacted for a new high HKD 22,000 psf
It is reported that Unit 9, 16/F, Silvercord Tower 2, 30 Canton Road, Tsim Sha Tsui, with a GFA of 1,443 sq ft, has been transacted for HKD 32 million or HKD 22,200 per sq ft, setting a new high for the building in terms of unit rate. The original property owner purchased the unit at about HKD 18.5 million in 2012, making a book profit of HKD 13.5 million or 73%.
(Sources: Vigers Research and market news)