Transactions of top ten housing estates are flat on a weekly basis
The top ten housing estates recorded ten transactions this weekend, which was flat on a weekly basis, but the zero-transaction housing estates narrowed to three. The agent indicated that recently new properties have been actively promoted and the focus is on the primary market. The source of customers in the secondary market is diluted and the transaction volume is stable.
Hong Kong Professional Teachers’ Union has sold properties for $230 million
The 7/F of Chung Kui Commercial Building in Mong Kok, the head office of the Hong Kong Professional Teachers’ Union, was reported to have just been sold for $55 million or $8,794 per square foot. It only earned 10% after holding the unit for ten years. Together with the earlier sale of the two floors of the Good Hope Building in the same district, they have sold properties for $230 million.
Second-hand residential registrations hit a record high in seven years since 2014
According to agents, in 1 Jan – 16 Sep 2021, a total of 47,067 second-hand residential registrations have been registered in this year, surpassing 46,903 last year, a slight increase of 0.3%, and a record high in seven years since 2014.
First two bids for land on Lau Yip Street are higher than market valuation ceiling
The land on Lau Yip Street in Yuen Long, one of the two residential sites launched this season, was won by CK Asset for $716 million last month, beating the remaining 15 consortiums. The land price per square foot was about $9,112, which was 14% higher than the market valuation’s upper limit. And the second highest one bid was 7.2% higher than same price ceiling.
(Sources: Vigers Research and market news)