Private residential construction up 200% m-o-m in May
The Buildings Department announced nine private residential projects started construction in May, involving 2,929 units, surged 200% m-o-m. It reached a 5-month high. An accumulated total of 5,184 units commenced construction in the first five months in 2020, increased by 18% y-o-y.
19 building plans approved in May
The Buildings Department approved 19 building plans in May, including nine apartment and apartment/commercial developments. Among which, the residential/commercial site at Site 1, Area 1F, Kai Tak has approved to build five residential buildings. A total domestic GFA of 1.063 million sq ft, together with a 352,000-sq-ft retail mall are expected to be provided.
Shop rent at Tung Choi Street slashed 50%
Shop A1, G/F, Tung Kok Building, 37-39 Tung Choi Street, Mong Kok, with an area of 300 sq ft, has been rented by a chained pharmacy at HKD 180,000 per month or HKD 600 per sq ft. The new rent is 50% lower than the previous rent.
Mont Rouge sold at HKD 156 m
House 11, Mont Rouge, Kowloon Tong, with a saleable area of 2,846 sq ft, a 1,002-sq-ft-garden and a 941-sq-ft-rooftop, has been transacted recently with a private garage at HKD 156 million or HKD 55,000 per sq ft.
(Sources: Vigers Research and market news)