Friday, July 10, 2020
Martin Hennecke

Mid-Levels flats as low as $4.8m hit market
Emperor International (0163) has launched the first batch of 30 units at Central 8 in Mid-Levels, at an average price of HK$29,820 per square foot. A 181-sq-ft foot unit only costs HK$4.88 million. The prices of all 30 units are below HK$10 million. The cheapest 181-sq-ft flat is a studio unit on the fifth floor, with a per sq ft price of HK$27,006 after discounts. The average per sq ft price of this project is 0.6 percent lower than that of The Richmond's first batch. Sun Hung Kai Properties (0016) has received around 10,000 purchase offers for Wetland Seasons Park Phase 2 in Tin Shui Wai, the highest so far among new projects this year. The project will launch sales for 200 units tomorrow meaing the batch was 49 times oversubscribed. Altissimo in Ma On Shan, jointly developed by Country Garden (2007) and Wang On Properties (1243), will launch 115 leftover units on Sunday, with 66 of them offered by tender until August 19. In the secondary market, a three-bedroom unit in The Belcher's was sold for HK$37.5 million or HK$32,780 per sq ft. The Pacifica in Cheung Sha Wan has recorded eight transactions so far this month, with a 501-sq-ft flat selling for HK$8.88 million, or HK$17,725 per sq ft. In the commercial market, a 470-sq-ft unit at a building on Sharp Street in Causeway Bay changed hands for HK$28.8 million or HK$61,227 per sq ft. Hysan Development (0014) meanwhile is offering nine refurbished units at Bizhouse in Pak Sha Road as home offices, with a monthly rent of HK$19,000 to HK$40,000 while a 19,180-sq-ft office at Convention Plaza Office Tower is only asking for a monthly rent of HK$50 per sq ft. In other news, the one-month Hong Kong Interbank Offered Rate, rallied for the second day, up 3.04 basis points to 0.62827 percent.

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