Property turnover shoots up

Business | 5 May 2021

Winnie Lee

The property sector saw turnover more than double to HK$85.1 billion last month from a year before, data from the Land Registry shows.

That was up 122 percent on a year-on-year basis and 9.1 percent month on month.

By volume, property transactions surged to a two-year high, up 88 percent year on year and 0.9 percent month on month to 9,150.

Residential property deals amounted to 7,325, up 78.6 percent year on year and down 1.6 percent month on month.

Ricacorp Properties said first-hand private home sales declined in April after months of hot sales. Transactions saw a 33 percent decline month on month.

That came as Henderson Land Development (0012) expects to release about 50 units more in the third price list of The Henley I in Kai Tak.

It plans to open the first round of sales on Sunday to offer at least 146 units, said general manager of sales Thomas Lam Tat Man. At least 10 featured units will open for sales by tender on Saturday.

The company received at least 1,400 checks and was oversubscribed more than eight times.

AquilaSquare Mile in Tai Kok Tsui will open sales of 22 units on Saturday, with prices between HK$23,043 and HK$27,173 per sq ft after discounts.

RK Properties will offer 180 units at South Land, the first phase of The Southside development above Wong Chuk Hang Station, on Saturday. The developer may also launch eight units by tender at the same time.

Mainland developer Sino-Ocean Group (3377) will offer 45 units at Uptify in Mong Kok for sale on Saturday.

The first round of sales includes 17 studio units, 23 one-bedroom units and five one-bedroom with study room units, ranging from 172 square feet to 318 sq ft.

The price is between HK$19,596 and HK$25,055 per sq ft after discounts.

Emerald Bay phase 2 in Tuen Mun will put 110 units up for sale on Saturday and 27 units up for tender on Monday. The minimum price of a 223-sq-ft flat is HK$3.73 million.

CK Asset (1113) sold a 2,945-sq-ft unit at 21 Borrett Road in the Mid-Levels for HK$232.8 million, or HK$79,000 per sq ft.

In the secondary market, an 863-sq-ft flat at South Horizons in Ap Lei Chau changed hands for HK$18.3 million, or HK$21,205 per sq ft. The seller, who bought the unit for HK$4.43 million in 1993, will see a capital gain of HK$13.87 million.

The one-month Hong Kong interbank offered rate, which is linked to the mortgage rate, fell to 0.08089 percent yesterday.

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