Himo Liu
Sino Land (0083) will supply particular mortgages for staff who’ve come to Hong Kong by way of town’s numerous expertise schemes and want to purchase a home.
Sales of unsold flats at One Soho in Mong Kok – collectively developed by Sino Land, Chuang’s Consortium (0367) and the Urban Renewal Authority – shall be relaunched as early as this month, with the developer providing particular plans for potential consumers who’ve come beneath the assorted expertise {and professional} schemes.
A brand new worth record could possibly be unveiled across the center of the month.
Sino Land says 191 flats have up to now been offered at One Soho for a complete HK$1.36 billion and at a median worth of HK$23,800 per sq. foot.
The developer’s supply got here because the in a single day Hong Kong Interbank supplied charge surged by 1.38 share factors to the best in almost a month at 3.9 p.c. However, the one-month Hibor, which is linked to the mortgage charge, fell by about 3 foundation factors to three.6858 p.c.
In the secondary market, a flat with a car-parking house at Bel-Air in Po Fu Lam offered for HK$70.5 million, 10 p.c decrease than what it cost 5 years in the past.
The 1,985-sq-ft flat initially had an asking worth of HK$82 million however was finally offered for HK$70.5 million, 10 p.c decrease than the transaction worth of HK$78.5 million paid by the vendor in 2018.
With the property market remaining weak, the variety of actual property brokers continues to say no.
Data from the Estate Agents Authority exhibits that as of the top of August, the licensed agent rely stood at 40,430, marking a month-to-month lower of 183 brokers.
This decline has persevered for 5 consecutive months, leading to a cumulative lack of 644 brokers, marking the bottom level in over two-and-a-half years since November 2020.
