Private residential construction down 92% m-o-m in June
The Buildings Department announced seven private residential projects started construction in June, involving 238 units. It dropped 92% m-o-m, reaching a 5-month low. An accumulated total of 5,422 units commenced construction in 1H 2020, increased by 10.5% y-o-y (1H 2019: 4,905 units).
23 building plans approved in June
The Buildings Department approved 23 building plans in June, including 11 apartment and apartment/commercial developments. Among which, Site 1, Area 4A, Kai Tak has approved to build two 31-storey residential buildings and one 6-storey clubhouse, and will be built above the basement. A total domestic GFA of 1.024 million sq ft, together with a 51,700 sq ft non-domestic GFA are expected to be provided.
Shop at Aberdeen sold with a loss
According to market news, Shops 1 & 2, G/F, Jadewater, 238 Aberdeen Main Road, Aberdeen, with an area of 2,542 sq ft, have been transacted at HKD 33 million or HKD 12,982 per sq ft. The original owner bought the shop at HKD 40 million in 2012, making a book loss of HKD 7 million in eight years.
Harbour One sold at HKD 27,190 psf
Unit B, mid-floor, Harbour One, Sai Wan, with a saleable area of 662 sq ft, has been sold at HKD 18 million or HKD 27,190 per sq ft. The original owner made a book profit of HKD 4.87 million and a 37% appreciation.
(Sources: Vigers Research and market news)