〈The Standard, July 6, 2024〉The market for student accommodation in Hong Kong has been heating up even before the summer vacation amid great expectations that the number of mainland students coming to attend schools and universities here will keep increasing.
Sunny House, developed by Wang On Properties, was opened up for leasing this month, making it the single biggest private student accommodation provider in Hong Kong.
Since its launch on June 12, Sunny House has received many inquiries from mainland and overseas students, and that's no exaggeration, with Wang On Properties chief executive Nick Tang Ho-hong putting the number of places leased out at close to 200.
〈Hong Kong Business, July 5, 2024〉
Riviera Plaza and Riviera Gardens car park in Tsuen Wan, New Territories are for sale, according to its joint sole agents Colliers and Knight Frank Hong Kong.
Located at Yi Lok Street and Yi Hong Street, the plaza is a vertical shopping mall featuring 11 storeys, two of which are basement levels. It has a total gross floor area of 242,690 sqft., with 156 private car parking spaces and 15 lorry spaces.The plaza was completed in 1990.
〈Asian Post, July 4, 2024〉The retail leasing market in Hong Kong remained stable in Q2 2024 according to Cushman&Wakefield.
Despite a 6.1% year-on-year decline in total retail sales amounting to $162b from January to May 2024, excluding the medicines and cosmetics category, high street vacancies remained relatively stable.
The report said also showed that key retail districts like Tsimshatsui experienced a notable decrease in vacancy rates by 1.2 percentage points to 10.6%, driven by increased tourist footfall. Meanwhile, Causeway Bay, Central, and Mongkok maintained stable vacancy rates quarter-on-quarter (QoQ).
〈Hong Kong Business, July 3, 2024〉A total of 5,245 sale and purchase agreements for all building units were logged by the Land Registry in June.
This figure represents a 28.7% decline from May but a 9.8% increase year-on-year (YoY).
The total consideration for these agreements dropped 34% from May to $41.1b, although it saw a 3.6% rise compared to last year.
For residential units, the registry logged 3,856 agreements in June. This is a 30.5% decrease from May but a 6.7% increase compared to June of the previous year.
〈RTHK News, July 2, 2024〉The government on Thursday announced that it will put only one residential site up for tender this quarter.
A plot at Shiu Lek Yuen in Sha Tin is expected to generate 570 housing units.
At a press briefing, Development Secretary Bernadette Linn said the authorities will not be selling any commercial sites this quarter.
"It is also a hard fact that the vacancy rate for the commercial floor area in the economy is now on the high side. According to some recent statistics, it is around 13 percent. So, taking into account the market condition, we think we have a reason not to roll out commercial sites in this quarter," she said.
