The site of Hong Kong’s former airport in Kai Tak will see another land sale in 2018
There’s more land on the way for new homes in Hong Kong next year, but not very much, according to an announcement this week by the city’s Lands Department. The first stop on the still shiny South Island Line is also back in the news as an office space sells for half a billion HKD and
Lands Dept Launches Condo Sites in Kai Tak and Tsing Yi
The Hong Kong government announced this week that a pair of residential land sites at Kai Tak and Tsing Yi would be launched via tender next year, providing up to 1,600 homes.
The government released the land sales program as part of its plan for the fourth financial quarter, which runs from January to March 2018. The Kai Tak site covers an area of 16,556 square meters and will provide up to 1,470 residential units. The 1330 square meter site at Tsing Yi is located at the junction of Liu To Road and Hang Mei Street and will provide around 130 units. Read more>>
Wong Chuk Hang Strata Floor Sold for HK$500M
National Electronics Holding says it has has sold the 15th floor of One Island South, a commercial building in Wong Chuk Hang to an independent third party for HK$500 million ($64 million).
Located at 2 Heung Yip road, the property covers an area of 29,956 square feet. National Electronics purchased the 15th floor of the building in March at a price of HK $375 million ($48 million). Read more>>
Hong Kong Industrial Deals Reached HK$40.6B in 2017
Hong Kong has recorded 4,624 industrial real estate transactions thus far in 2017, reaching an amount of HK $40.6 billion ($5.2 billion). The volume of industrial deals is the highest that the city has seen in five years, according to a new report from property agency Centaline.
Total transactions in 2017 are expected to surpass 5,000, with the value of those deals anticipated to reach HK $45 billion ($ 5.8 billion). Read more>>
New World Offers 7.5% Down Payments for Young Homebuyers
New World Development has unveiled a new programme aimed at helping young people in Hong Kong onto the housing ladder by offering initial down payments as low as 7.5 per cent.
The company said home-seekers aged between 25 and 35, who are permanent residents and have never owned property in Hong Kong, can apply for the scheme, called the NewGen First Home Program. Read more>>
New Private Housing Supply Reach 24K Units in FY 2017/2018
24,300 private housing have been launched in Hong Kong during the 2017/2018 financial year. The high volume of new home sales is 6,300 units more than targeted, Secretary for Development, Michael Wong said on Monday.
Wong said that 15,600 of the units were developed from private land and redevelopment project, while only 5,800 units were developed by the government, 60 percent fewer than the previous financial year. Read more>>
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