24/8/2018-10

Causeway Bay rents rose 1.5% in three months, the largest in three years

Jones Lang LaSalle announced the latest “Hong Kong Property Market Watch” report. In July, Grade A office rents in Wan Chai and Causeway Bay rose 1.5% month-on-month, the largest monthly increase in the past three years.

The report shows that the average rent of Grade A office buildings in Wan Chai and Causeway Bay rose to $68.7 per sq ft last month. The rents recorded a significant increase, mainly due to the vacancy rate falling to a historical low of 1.6% in the district; the average rent of Grade A office buildings in Tsim Sha Tsui It rose by 1% to 51.5 yuan per month. The overall office rents continued to rise, rising by 0.8% month-on-month.

Bao Yali, head of the commercial department of Jones Lang LaSalle, said that the total absorption of the entire Jiasha market last month totaled 259,700 square meters, reflecting the active leasing. The volume of new leases in Central increased by 1.09 times month-on-month, including Dongying Financial’s lease of a building of 13,900 square feet in Central Exchange Square. Due to the high rents of the Central Office and the redevelopment of the Central Centre and the redevelopment of the Hung Hom Building, a number of rental requirements will be introduced. Tenants will move to the new commercial flats in Wong Chuk Hang and Quarry Bay.

VIGNATURE land factory 25.54 million change hands

In addition, Lu Weide, senior regional business director of Zhongyuan (Industrial and Commercial), said that the VIGNATURE factory in Wong Chuk Hang Industrial Building has a construction area of ​​about 1277 square meters and sold for about 25.54 million yuan. The price is 20,000 yuan. The factory is oriented to Xiangye Road, and there are few land factories for sale in the area. Buyers are investors and intend to purchase long-term investments. Developers will push a new batch of floor market this week, with a price increase of about 3% to 5%.