Luxury Real Estate Blog and News
Tseung Kwan O
A 1,670-sq-ft duplex unit of Phase IIIB of The Wings in Tseung Kwan O was sold together with a podium and a swimming pool for HKD 48.096 million, or HKD 28,800 per sq ft of saleable area on Sunday.
A high-floor unit A in block 1 of Stars by the Harbour in Hung Hom, with a saleable area of 1,408 sq ft, was recently leased at a monthly rent of HKD 85,000, or HKD 60.4 per sq ft.
Hong Kong’s top official has raised the property stamp duty for the second time in three years to tame soaring real estate prices in the world’s least affordable major city.
San Po Kong
The Housing Authority plans to sell units of its first Green Form Subsidised Home Ownership Pilot Scheme (GSH) project to Green Form residents at 40% discount.
An even no. house plot on Kent Road, Kowloon Tong is said to be recently sold for HKD 260 million, or HKD 40,229 per sq ft of permissible GFA.
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.
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.
The ratio of mainland buyer contribution has risen back to above 30% for total transaction volume in the primary luxury market as of 2Q2016.