Land sales revenue of 1H breaks 11-year low
While the number of land launches by the government were limited, land sales performance over 1H 2020 stayed sluggish. Five residential land sales by tender were recorded in the 1H of the year, cashing in about HKD 10.337 billion, plunged 81% y-o-y and hitting a 11-year low. The number of land sales transaction decreased by two cases or 28.6% y-o-y.
Century Tower changed hands at HKD 140 m
A top-floor special unit, Tower 2, Century Tower, Mid-Levels, with a saleable area of 2,786 sq ft, has been changed hands at HKD 140 million or HKD 50,000 per sq ft. The original owner purchased the unit at HKD 128 million in 2011, making a book profit of HKD 12 million in nine years.
Residence Bel-Air rented at HKD 250,000
A high-floor duplex unit, Tower 8A, Phase 6, Residence Bel-Air, Pok Fu Lam, with a saleable area of 4,136 sq ft, together with a terrace and a private pool, has been rented at HKD 250,000 per month or HKD 60 per sq ft. The new rent is 28% lower than the previous rent.
Shop in Ngau Chi Wan sold at HKD 43 m
Shop B, G/F-M/F, Choi Hung Villa, 60 Lung Chi Path, Ngau Chi Wan, with a total area of 3,364 sq ft, has been sold at HKD 43 million or HKD 12,782 per sq ft. The original owner purchased the shop at HKD 4.3 million in 1990, making a book profit of HKD 38.7 million and a nine times appreciation.
(Sources: Vigers Research and market news)