News Room – Daily Property News

22 residential transactions recorded in Yuen Long over long weekend
A total of 22 residential transactions were recorded in Yuen Long over the long weekend, among which, a top-floor unit, Tower 12, The Reach, Yuen Long, with a saleable area of 414 sq ft and a 199-sq-ft-rooftop, has been sold at HKD 5.98 million. The unit price was HKD 14,444.

Shop at Mong Kok changed hands at HKD 31 m
A street shop, G/F-M/F, 108 Fa Yuen Street in Mong Kok, with a total area of 1,800 sq ft, has been changed hands at HKD 31 million or around HKD 17,000 per sq ft. The current rent of the shop is HKD 71,000 per month, representing a yield of 2.8% to the new buyer.

Tuen Mun shop rent slashed 13%
According to market news, shops 05-07, G/F, Hong King Garden, 4-70 Tsing Sin Street, Tuen Mun, with a combined area of 2,253 sq ft, have been rented at a monthly rent of HKD 85,000 or HKD 37.7 per sq ft. The new rent is 13% lower than the previous rent, returning to the level five years ago.

Unit at Braga Circuit sold at HKD 38 m
A low-floor unit, 34J Braga Circuit, Kadoorie Hill, Ho Man Tin, with a saleable area of 1,981 sq ft, has been transacted last month at HKD 38 million or HKD 19,182 per sq ft. The buyer is the first-time buyer, paying stamp duty of HKD 1.615 million.

(Sources: Vigers Research and market news)

Primary market recorded 72 transactions during the long weekend
According to market news, a total of 72 new homes were transacted during the four-day long weekend. Among which, eight units were sold at Two Artlane, Sai Ying Pun. Unit A, high-floor, Two Artlane, with a saleable area of 381 sq ft, has been sold at HKD 11.588 million or HKD 30,415 per sq ft. The transaction price hit the highest of the estate.

Ten major estates recorded 36 transactions over the long weekend
According to market news, a total of 15 transactions were recorded in the ten major estates over the weekend, down one transaction w-o-w, yet it has been the ninth consecutive weekends with double digit transaction volume. During the four-day long weekend, a total of 36 transactions were recorded.

Fifty major Grade A office buildings recorded eight transactions in September
According to market news, eight transactions were recorded in fifty major Grade A office buildings in September, up three transactions m-o-m, and it reached a 4-month high. Of which, Kowloon regions recorded five transactions.

Harbour Glory sold with a loss
Unit A, low-floor, Tower 8, Harbour Glory, North Point, with a saleable area of 1,324 sq ft, has been sold at HKD 39 million or HKD 29,456 per sq ft. The original owner bought the unit at HKD 41.73 million in 2017, making a book loss of HKD 2.73 million and a 7% depreciation in three years.

(Sources: Vigers Research and market news)

Old building in Tai Hang applied for compulsory sale
An old building at 23-24 Sun Chun Street in Tai Hang applied for compulsory sale, and Henderson Land owned around 91.67% of the ownership. The site has an area of 845 sq ft, and the market valuation is about HKD 49.56 million.

Tender opens for Lohas Park Phase 13
Tender for the MTR’s project, Lohas Park Phase 13, Tseung Kwan O was opened yesterday, and will be closed on 29 October. According to market news, the land premium was HKD 5.568 billion or HKD 3,600 per sq ft, reaching the highest among Lohas Park projects. At least 15% of the profit will be shared with the MTRC. With a total GFA of 1.5467 million sq ft, the project is expected to provide around 2,550 units.

Yoho Midtown sold at HKD 20 m
Unit D, high-floor, Tower 1, Yoho Midtown, Yuen Long, with a saleable area of 1,066 sq ft and a terrace, has been sold at HKD 20 million or HKD 18,762 per sq ft. The original owner bought the unit at HKD 12.26 million in 2010, making a book profit of HKD 7.74 million and a 63% appreciation in ten years.

Site at Jardine’s Lookout sold at HKD 830 m
Even no. site, Henderson Road, Jardine’s Lookout, with a GFA of 9,952 sq ft, has been sold early this month at HKD 830 million or HKD 83,400 per sq ft. The new buyer is a company and has to pay 30% stamp duty of HKD 249 million.

(Sources: Vigers Research and market news)

Govt to sell two residential sites in coming quarter
The Development Bureau announced the quarterly land sale programme for October to December 2020. Two residential sites from The Peak and Kai Tak will provide 630 units in total. Together with MTR Corporation’s Wong Chuk Hang Station Phase 5 project and other supplies, a total of 2,780 units are expected to offer in the coming quarter. The private housing land supply in the first three quarters has a total capacity of providing 7,400 units, reaching around 57% of the target this year.

Duplex unit of Vibe Centro sold at HKD 45.6 m
A duplex unit C58, 5/F & 6/F, Tower 5, Vibe Centro, Kai Tak, with a saleable area of 1,260 sq ft and a 526-sq-ft-rooftop, has been sold at HKD 45.6 million or HKD 36,190 per sq ft.

Entire floor of Euro Trade Centre transacted at HKD 150 m
14/F, Euro Trade Centre, 21-23 Des Voeux Road Central, Central, with an area of 5,261 sq ft, has been transacted at HKD 150 million or HKD 28,512 per sq ft. The original owner made a book profit of HKD 133 million and a 8.2 times appreciation in 17 years.

Shop rent in Yuen Long slashed 35%
According to market news, Shop 1, G/F, 101-121 Kau Yuk Road, Yuen Long, with an area of 800 sq ft, has been rented at HKD 40,000 per month or HKD 50 per sq ft. The new rent is 35% lower than the previous rent.

(Sources: Vigers Research and market news)

Primary market recorded 337 transactions during weekend
According to market news, a total of 337 new homes were transacted during the weekend. Among which, 144 units of Wetland Seasons Park Phase 3 in Tin Shui Wai were sold over the weekend. Around 84% of the units at Wetland Seasons Park Phase 3 were sold in two batches of sale.

Ten major estates recorded 16 transactions over weekend
According to market news, a total of 16 transactions were recorded in the ten major estates over weekend, while the number stayed unchanged over the week. It has been the eighth consecutive weekends with double digit transaction volume. Among which, zero transaction was recorded in Metro City in Tseung Kwan O and Caribbean Coast in Tung Chung.

Shop rent in Mong Kok slashed 25%
Shop 11B, G/F, Hung Fai Building, 43P-43S Dundas Street, Mong Kok, with an area of 300 sq ft, has been rented at HKD 75,000 per month or HKD 250 per sq ft. The new rent is 25% lower than the previous rent, returning to the rental level nine years ago.

Tycoon Court changed hands at HKD 20.5 m
According to market news, Unit 2, mid-floor, Tower B, Tycoon Court, Mid-Levels West, with a saleable area of 839 sq ft, has been changed hands at HKD 20.5 million or HKD 24,434 per sq ft. The original owner bought the unit at HKD 7.3 million in 2007, making a book profit of HKD 13.2 million and a 1.8 times appreciation.

(Sources: Vigers Research and market news)

Old building at Mid-Levels West applied for compulsory sale
An old building located at 88 Robinson Road, Mid-Levels West applied for compulsory sale, and Henderson Land owned around 92% of the ownership. The site has an area of 10,361 sq ft, and a total GFA of 51,800 sq ft will be provided. The market valuation is about HKD 660 million.

Shop at Jordan transacted at HKD 23 m
Even no. shop, Shanghai Street, Jordan, with an area of 750 sq ft, has been transacted at HKD 23 million or HKD 30,667 per sq ft, 10% lower than the market price. The current monthly rent of the shop is HKD 56,000, representing a rental yield of 2.9% to the new buyer.

Villa at The Beverly Hills sold at HKD 9,838 psf
According to market news, even no. house, Boulevard Du Palais, The Beverly Hills, Tai Po, with a saleable area of 1,606 sq ft, has been changed hands at HKD 15.8 million or HKD 9,838 per sq ft. The original owner bought the villa at HKD 18 million in 2011, making a book loss of HKD 2.2 million in nine years.

Rental return of J Residence reached 5%
Unit 11, high-floor, J Residence, Wan Chai, with a saleable area of 358 sq ft, has been rented at HKD 15,400 per month or HKD 43 per sq ft, 15% lower than the market price. The owner bought the unit at HKD 3.624 million in 2006, earning a rental return of 5%.

(Sources: Vigers Research and market news)

EOIs for Lohas Park Phase 13 closes today
Invitation for expression of interests (EOIs) for MTR’s project, Lohas Park Phase 13 in Tseung Kwan O will close today. The project is expected to provide around 2,550 units. The market valuation ranged from HKD 9.04 billion to HKD 10.55 billion, and the accommodation value ranged from HKD 6,000 to HKD 7,000 per sq ft.

Failed transaction recorded at T Plus
A failed transaction was reported at T Plus in Tuen Mun. A buyer agreed to purchase unit 33 on mid-to-high-floor at T Plus at HKD 2.65 million but has failed to complete the transaction, forfeiting HKD 50,000 of deposit.

The Waterfront changed hands at HKD 32 m
According to market news, Unit B, high-floor, Tower 5, The Waterfront, Kowloon Station, with a saleable area of 1,212 sq ft, has been changed hands at HKD 32 million or HKD 26,403 per sq ft. The original owner bought the unit at HKD 22 million in 2015, making a book profit of HKD 10 million and a 45% appreciation in five years.

Unit price of Amber Commercial Building hit new high
Unit on 22/F, Amber Commercial Building, 70 Morrison Hill Road, Wan Chai, with an area of 1,748 sq ft, has been sold last month at HKD 25 million or HKD 14,302 per sq ft. The unit price hit the highest of the building. The original owner made a book profit of HKD 17.66 million and a 2.4 times appreciation in 13 years.

(Sources: Vigers Research and market news)

Old building in Wan Chai applied to construct residential building
A financial group has applied to the Town Planning Board, suggesting to loosen the height restrictions of an old building at 31-36 Sau Wa Fong in Wan Chai. The site has an area of 7,922 sq ft. With the plot ratio of five, a 15-storey residential building will be redeveloped. A total GFA of 39,600 sq ft is expected to be provided, involving 115 units.

Overall Grade A office rents down 1.7% m-o-m in August
According to a market report, the overall Grade A office rents fell 1.7% m-o-m in August. Among which, office rents in Central recorded the largest monthly drop of 2.5%.

Shop at Sheung Wan transacted at HKD 53,000 psf
According to market news, shop G52, G/F, 328 Queen’s Road Central, Sheung Wan, with an area of 500 sq ft, has been transacted at HKD 26.3 million or HKD 53,000 per sq ft. The current rent of the shop is HKD 66,000 per month, representing a rental return of 3%.

Grand Homm sold at HKD 35.775 m
Unit A, 10/F, Tower 3, Grand Homm, Ho Man Tin, with a saleable area of 1,228 sq ft, has been sold at HKD 35.775 million or HKD 29,133 per sq ft.

(Sources: Vigers Research and market news)

Grade A office price down 0.3% m-o-m in August
According to a market report, the overall Grade A office price decreased by 0.3% on a monthly basis in August, and it has been dropped for 14 consecutive months. An accumulated drop of 9.6% was recorded this year. Among which, Grade A office price in Sheung Wan dropped 1.3% m-o-m or 29% y-o-y.

Secondary residential transactions in Yuen Long up 36% m-o-m
According to market news, in September, a total of 110 secondary residential transactions were recorded in Yuen Long as at 20 September, up 36% m-o-m. Among which, Unit H, high-floor, Tower 1, Twin Regency, with a saleable area of 378 sq ft, has been sold at HKD 5.68 million or HKD 15,026 per sq ft.

Shop at Reclamation Street sold at HKD 32.5 m
Shop A, G/F, 279-281 Reclamation Street, Mong Kok, with an area of 1,000 sq ft, has been transacted at HKD 32.5 million or HKD 32,500 per sq ft through company transfer. The total monthly rent of the shop is HKD 110,000, representing a rental return of 4.06% to the new buyer.

Shop rent at Prat Avenue up 9%
A snack shop has renewed the lease of shop C, G/F, Rose Mansion, 1 Prat Avenue, Tsim Sha Tsui at a monthly rent of HKD 250,000. With an area of 350 sq ft, the unit rent was HKD 714. The new rent is 9% higher than the previous rent.

(Sources: Vigers Research and market news)

Primary market recorded 256 transactions during weekend
According to market news, a total of 256 new homes were sold during the weekend, up 4.7 times w-o-w (Past weekend: 44 transactions). Among which, around 95% of the first batch of 133 units at Wetland Seasons Park Phase 3 in Tin Shui Wai were sold, and the developer offered 38 more units for sale yesterday.

Ten major estates recorded 16 transactions over weekend
According to market news, a total of 16 transactions were recorded in the ten major estates over the weekend, up two transactions or 14.3% w-o-w. Among which, zero transaction was recorded in Laguna City.

Shop at Sai Wan transacted at HKD 38 m
According to market news, shops A & B, G/F, 55-57 Catchick Street, Sai Wan, with a total area of 1,600 sq ft, have been transacted at HKD 38 million or HKD 23,750 per sq ft through company transfer.

Residence Bel-Air changed hands at HKD 30,669 psf
Unit B, high-floor, Tower 5, Phase 2, Residence Bel-Air, Pok Fu Lam, with a saleable area of 1,376 sq ft, has been sold with a parking space at HKD 42.2 million or HKD 30,669 per sq ft. The original owner bought the unit at HKD 10.41 million in 2003, making a book profit of HKD 31.79 million in 17 years.

(Sources: Vigers Research and market news)