Luxury Real Estate Blog and News
The Land Department announced that the New Kowloon Inland Lot No. 6533 at Lung Cheung Road, Beacon Hill, has been awarded to Kerry Properties Limited at a premium of $7.2688 billion.
A high-floor 2-room unit with sea view at Tower 6, Park Island, was sold recently at HKD 6 million, or HKD 10,187 per sq ft.
Hong Kong Island
Luxury property values in Hong Kong will continue its decline for the rest of the year, but it won’t be a precipitous drop, property consultants maintain.
Tai Kok Tsui
Flat C, High-Floor, Tower 5, Metro Harbour View in Tai Kok Tsui, with 3 rooms and a saleable area of 519 sq ft, has been leased for HKD 17,500 per month, or HKD34 per sq ft.
Cheung Sha Wan
The Secretary for Development, Mr Paul Chan Mo-po, said that a commercial site at King Lam Street, Cheung Sha Wan, with a maximum GFA of 998,400 sq ft, will be tendered in the 3rd quarter.
Tin Shui Wai
Another unit of Kingswood Villas in Tin Shui Wai has been sold for more than HKD 5 million.
Prices of residential sites in Asia increased by 1.9% in the first half of 2016, down from 2.8% in the preceding six months.
Tsim Sha Tsui
The giant shop at the shopping mall in the Peninsula, currently rented by Prada, has been divided into 4 smaller units for lease recently.
Cheung Kong Property has recently sold several street shops in Yuccie Square, with a total GFA of 20,000 sq ft, for HKD 620 million, or HKD 31,000 per sq ft, to a local investor.