Starter homes will provide 1,000 units next year
Chief Executive Carrie Lam, in her first Policy Address, said the first batch of starter homes will provide about 1,000 flats and there will be income restrictions for applicants. Income limit for a 2 persons family will be HKD 52,001 – HKD 68,000. Pilot programme will be introduced by end of next year and the land plot at Anderson Road, Kwun Tong under the Land Sales Programme is selected.
Revenue from “spicy tricks” rose 14% in Sep
The Inland Revenue Department announced that tax revenue from the 3 “spicy-trick” stamp duties totaled HKD 2.24 billion in September, rose 14% compared with HKD 1.96 billion in August. Transactions related to non-local and business buyers, Buyer’s Stamp Duty (BSD), increased 38% m-o-m to 450 cases, reaching a 10-month high since the record of 494 cases in November last year.
Wheelock’s 8 Bay East sold to PRC developer at HKD 9 b
Wheelock announced yesterday that its subsidiary The Wharf (Holdings) has sold a non-residential project, 8 Bay East, to LVGEM CHINA at HKD 9 billion or HKD 15,095 per sq ft. It has been the most expensive en-bloc commercial transaction in Kowloon. The project with a GFA of about 596,200 sq ft is located at 123 Hoi Bun Road in Kwun Tong. It is still under construction.
Giant shop in Holiday Inn Golden Mile subleased
Rental downtrend persists in prime districts. A 3,200-sq-ft giant shop located on the G/F, Holiday Inn Golden Mile, Tsim Sha Tsui had been leased to Chow Tai Fook previously. The shop is now being subleased to two watch and jewelry stores with a total rent of HKD 1.5 million, 60% lower than the previous rent.
(Sources: Vigers Research and market news)