More agents join in the property game

Finance | Eurus Yiu 3 Aug 2021

The number of registered property agents rose by 46 to 41,033 in July. The figure has been rising for two consecutive months amid bullish market sentiment.

The number of real estate agency branches also increased by nine to 7,101 last month, the highest in the past 13 months, data from the Estate Agents Authority showed.

And the number of people with a salesperson's licence increased by 81 to 22,655 in July, while the number of individual estate agent's licences dropped by 35 to 18,378.

Meanwhile, China's Minmetals Land (0230) sold a 1,021-sq-ft unit, coupled with a 888-sq-ft balcony, at Montego Bay in Yau Tong for HK$24.8 million, or HK$24,300 per sq ft, by tender.

This came as local media reported that the mainland's Country Garden Services (6098), the property management arm of Country Garden (2007), entered the Hong Kong market by acquiring the local Parkland Property Management last year. Before becoming a subsidiary of Country Garden Services in March 2020, Parkland was a subsidiary of Ryoden Development, which was backed by Hu Fa-kuang's family.

Parkland manages properties of more than 6 million square feet, covering 61 residential projects ranging from general housing estates to luxury homes, and 12 commercial and industrial projects.

Besides offering property management services, the company is also offering asset management, maintenance and repair, cleansing, security and home-care services.

Search Archive

Advanced Search
December 2021

Today's Standard