2,105 private flats commenced work in Jun
The Buildings Department announced that a total of 2,105 private domestic units reported construction start in June, up 2.18 times m-o-m and ended the downtrend in the past 2 months. Total number of completions reached 2,341 units, up 1.3 times compared with 1,012 units in May.
Flat selection for new HOS flats start soon
The flat selection process for the Housing Authority’s new batch of Home Ownership Scheme (HOS) flats in 2017 will start next Wednesday (23rd August), involving 2,108 units. Successful applicants are invited in batches for flat selection. Details of the flats, for example, the price list, are expected to release today at the earliest.
Land premium reached HKD 22.2 b in 7 months
According to the Lands Department, the amount of land premium payable from private sector redevelopment and land exchange, etc., reached HKD 22.19 billion in the first 7 months of the year, surged 2.7 times compared to HKD 5.95 billion over the same period last year. Among which, premium payment of Sun Hung Kai Properties’ project in Area 54, Tuen Mun, involved HKD 6.53 billion, is the largest premium amount for the recent 6 years.
Wing On Plaza transacted for HKD 22,000 psf
Office prices in Kowloon have started to catch up with the uptrend in Central. It is reported that a sea view unit, Unit 4, Mid-Floor, Wing On Plaza, Tsim Sha Tsui, with an area of 1,351 sq ft, has been transacted for HKD 29.18 million, or HKD 21,600 per sq ft, setting a new high for offices in Tsim Sha Tsui East.
(Sources: Vigers Research and market news)