Fifty major Grade A office buildings recorded 57 transactions in first ten months
According to market news, 57 transactions were recorded in fifty major Grade A office buildings in the first ten months in 2020, plunged 53% y-o-y (Jan-Oct 2019: 120 transactions). While the deals involved a total floor area of around 236,000 sq ft, decreased by 50% on a yearly basis.
Residential transactions at Tung Chung up 12% m-o-m in October
According to market news, a total of 87 residential transactions recorded in Tung Chung in October, up 12% m-o-m. Among which, unit H, mid-floor, Tower 11, Caribbean Coast, with a saleable area of 928 sq ft, has been transacted at HKD 9.6 million or HKD 10,345 per sq ft.
Shop at Sheung Wan sold at HKD 22 m
Shops 1 & 2, G/F & UG/F, Evora Building, 68 Lok Ku Road, Sheung Wan, with a combined area of 3,000 sq ft, has been sold with 45% discount at HKD 22 million or HKD 7,333 per sq ft. The original owner bought the unit at HKD 1.68 million in 1984, making a book profit of HKD 20.32 million and a 12 times appreciation in 36 years.
Shop rent in Yuen Long slashed 10%
Shop A, G/F, Chit Wing Building, 2-6 Kau Yuk Road, Yuen Long, with an area of 750 sq ft, has been rented at HKD 160,000 per month or HKD 213 per sq ft. The new rent is 10% lower than the previous rent, returning to the level five years ago.
(Sources: Vigers Research and market news)