19 building plans approved in July
The Buildings Department approved 19 building plans in July, including seven apartment and apartment/commercial developments. Among which, site at Yau King Lane, Pak Shek Kok in Tai Po was approved to build fourteen 11-14 storey residential buildings and a 1-storey clubhouse. A total GFA of 949,000 sq ft are expected to be provided.
Private residential construction up 150% m-o-m in July
The Buildings Department announced four private residential projects started construction in July, involving 600 units. It increased 150% on a monthly basis. An accumulated total of 6,022 units commenced construction in the first seven months in 2020, dropped 7% y-o-y, hit a 6-year low.
Seacoast Royale reached new highs
Unit 10, 19/F, Tower 3, Seacoast Royale, Tuen Mun, with a saleable area of 1,267 sq ft, together with a 434-sq-ft-terrace and a 1,197-sq-ft-rooftop, has been transacted at HKD 30 million or HKD 23,678 per sq ft. The transaction price and unit price reached the highest of the estate.
Entire floor of Enterprise Square sold at HKD 72 m
35/F, Enterprise Square Two, Kowloon Bay, with an area of 9,420 sq ft, has been sold at HKD 72 million or HKD 7,643 per sq ft on 1 September. The new buyer is Hybribio Limited. The original owner made a book profit of HKD 58.1 million and a 4.2 times appreciation in 18 years.
(Sources: Vigers Research and market news)