Only 3 secondary transactions posted at weekend
Secondary sales were affected by the typhoon over the weekend. Only 3 transactions were recorded in the 10 major housing estates over the past 2 days, slashed about 63% from 8 transactions a week earlier, according to Centaline’s statistics. Mei Foo Sun Chuen in Lai Chi Kok and Kingswood Villa in Tin Shui Wai accounted for 1 and 2 transactions respectively.
Sublease subsidised housing with unpaid premium
Chief Executive Carrie Lam, in her Policy Address, suggested to allowing landlords to sublease the Hong Kong Housing Society (HKHS)’s subsidised housing with unpaid premium to families in need, involving 9,000 units and the rent will set below market level. Wu Moon-hoi, Chairman of HKHS, said there are 16,000 eligible units and trial scheme can commence in the second half of next year at the earliest.
Industrial transactions reached 4-year high in Q3
According to market data, a total of 1,496 industrial transactions were registered in the last quarter, increased for 2 consecutive quarters and achieved a 4-year new high. Total consideration amounted to around HKD 9.991 billion, down 6% q-o-q. The whole year’s record is expected to reach 5,000 transactions and comes to a 5-year high.
Tiffany pre-leased a giant shop on Peking Road
It is reported that a duplex retail unit with a GFA of 3,549 sq ft, Shops G8 & 108, G/F & 1/F, 1 Peaking Road, Tsim Sha Tsui, has been pre-leased by Tiffany & Co. at HKD 6.48 million per month or HKD 1,826 per sq ft. It is the largest retail leasing transaction this year.
(Sources: Vigers Research and market news)