Unit rent of private flats down 1.2% m-o-m in September
According to market news, the average rent in the 107 major estates was HKD 34 per sq ft in September, down 1.2% m-o-m. The unit rent returned to the level in March this year.
Shop at Sai Wan changed hands at HKD 14 m
According to market news, street shop, G/F, Golden Phoenix Court, 1-2 St. Stephen’s Lane, Sai Wan, with an area of 617 sq ft, has been transacted at HKD 14 million or HKD 22,690 per sq ft. The current monthly rent of the shop is HKD 40,000, representing a yield of 3.4% to the new buyer.
Sceneway Garden sold at HKD 14.05 m
A top-floor unit, Tower 10, Sceneway Garden, Lam Tin, with a saleable area of 720 sq ft and a 377-sq-ft-rooftop, has been sold at HKD 14.05 million or HKD 19,514 per sq ft. The transaction price and unit price hit the highest of the estate this year. The original owner made a HKD 9.6 million and a 2.2 times appreciation.
Street shop in Central rented at HKD 350,000 per month
Street shop, G/F, Melbourne Plaza, Queen’s Road Central, Central, with an area of 1,540 sq ft, has been rented at HKD 350,000 per month or HKD 227 per sq ft. The new rent is 50% lower than the previous rent.
(Sources: Vigers Research and market news)