Overall property transactions down 29% m-o-m in August
According to the Land Registry, the overall property transactions recorded 5,390 registrations in August, down 29% m-o-m (July: 7,576 registrations). While the total consideration recorded HKD 45.6 billion, dropped by 34.2% on a monthly basis.
Special Unit of OMA by the Sea hit new highs
Special unit A1, 17/F, Tower 2, OMA by the Sea, Tuen Mun, with a saleable area of 1,428 sq ft, together with a 224-sq-ft-terrace and a 1,361-sq-ft-rooftop, has been transacted through tender at HKD 31.8 million or HKD 22,269 per sq ft. The transaction price and unit price hit the highest of the estate.
Kim Shing Commercial Building sold with 17.6% discount
Kim Shing Commercial Building, 124-126 Castle Peak Road, Sham Shui Po, with a total area of 21,977 sq ft, has been changed hands with 17.6% discount at HKD 140 million or HKD 6,370 per sq ft. The current monthly rent of the entire building was about HKD 260,000, representing a rental return of 2.2% to the new buyer.
Unit rent at University Heights reached HKD 101
According to market news, Unit F, high-floor, Tower 3, University Heights, Mid-Levels West, with a saleable area of 3,172 sq ft, has been rented at HKD 320,000 per month or HKD 101 per sq ft.
(Sources: Vigers Research and market news)