Office rental index rising for 9 months
According to the Rating and Valuation Department (RVD)’s statistics, the overall private offices rental index was 239.5 in June, edged up 0.08% m-o-m, and hitting a new high again. The figure has been rising for 9 consecutive months, with a cumulative growth of 2.79%, up 3.9% on a yearly basis.
HK commercial real estate market ranks top in Asia-Pacific
Hong Kong climbed to the highest position on a list of largest commercial real estate markets in the Asia-Pacific in the first half of 2017, and surpassed Tokyo, in Japan, for the first time, based on the latest research from Real Capital Analytics (RCA). Total consideration of the city reached USD 8.3 billion during the period, increased by 5% y-o-y.
Leasing activity of laundry was active
Leasing activity of laundry was active recently. It is reported that the leasing agreement of a street shop, 47A Yuk Wah Street, Wong Tai Sin, with a shop area of 800 sq ft and a 700-sq-ft mezzanine floor, has been renewed by a laundry for HKD 26,000, 40% higher than the original rent of HKD 18,200. Hung Hom and Tsuen Wan also recorded similar transactions.
Villa at Marinella transacted for HKD 139 m
The tender of a villa of K.Wah’s residential project, Marinella, in Aberdeen, was opened last Saturday and it has been transacted for HKD 139 million, or HKD 50,000 per sq ft yesterday, according to the register of transactions. This No. 18 villa has an area of 2,788 sq ft, a 996-sq-ft garden and a 57-sq-ft terrace.
(Sources: Vigers Research and market news)