Kowloon City acquisition costs for HKD 17,698 psf
The property acquisition for the redevelopment project at Kai Tak Road / Sa Po Road in Kowloon City has been proposed to affected property owners by the Urban Renewal Authority (URA). Based on the policy of “seven-year-old flat” for affected owner-occupiers, the acquisition price is calculated as HKD 17,698 per sq ft of saleable area, reaching the third high of the acquisition cost in Kowloon offered by the URA.
Old building in Wong Tai Sin applied for compulsory sale
Rainbow House, 45 Fei Fung Street and 110 Shatin Pass Road in Wong Tai Sin applied for compulsory sale, and the applicant owned around 94.51% of the ownership. The site has an area of 6,532 sq ft, and the market valuation was about HKD 381.25 million.
Unit at The Center sold at HKD 61.18 m
According to market news, unit 13, 39/F, The Center, Central, with an area of 1,995 sq ft, has been sold at HKD 61.18 million or HKD 30,667 per sq ft.
Shop rent in Tsim Sha Tsui slashed 38%
Street shop, G/F, Kok Pah Mansion, 58-60 Cameron Road, Tsim Sha Tsui, with an area of 2,350 sq ft, has been rented at HKD 180,000 per month or HKD 76.6 per sq ft. The new rent is 38% lower than the previous rent.
(Sources: Vigers Research and market news)