The social movement has not yet subsided, the business environment is arduous, and the owners of Jiaxia have lowered their rents
Zhongyuan (Industrial and Commercial Bureau) Lin Zehao said that the 7th floor of the 35th floor of Bank of America Bank of Admiralty, with an area of about 1,023 square meters, has recently been rented for 75 yuan per month, with a monthly rent of about 76,000 yuan. Mr Lam said that the owners understand that Hong Kong’s business environment is facing major challenges in the near future, and it has taken the initiative to lower the intentional monthly rent and to tide over the difficulties with tenants. It is known that the owner’s asking price at the beginning of the year is about 117 yuan per trip. The latest price reduction was made at the end of August due to market conditions, which was about 35% lower than the initial asking price.
Lin continued that a unit on the 35th floor of the building was leased at a rent of nearly 80 yuan in April this year, with a unit area of about 1,517 square feet
In July, the middle and lower level units were leased for about 88 yuan per square meter, with a unit area of about 736 square meters. Oh, by comparison, the above unit rents are about 6% to 15% lower. It is reported that the building was in the middle and upper floors of Room 01 last year, about 3,100 square meters. The rent was once high at 120 yuan, creating a new high in the building. The current rent level dropped by about 37.5%.
Industrial price is expected to continue to fall
The industrial market was also dragged down. The research department of the Industrial and Commercial Services Bureau of the United States said that the overall industrial property price in August fell by 0.5% month-on-month. Under the circumstances that the trade war and social disputes have not subsided, the market investment atmosphere has turned weak. The price of industrial buildings is expected to continue to fall in September. The Midland Industrial Property Price Index (MII), which reflects the 50 indicator industrial buildings, was 351.4 points in August and was revised down by 0.5% month-on-month. Rents were stable. In August, the Midland Industrial Property Rent Index (MIRI) was last reported at 177.1 points, up 0.2% month-on-month. In the first eight months of this year, the selling price and rental index both rose in a narrow range, up 0.6% and 1.4% respectively.
The price of the industrial estates in the traditional industrial districts was the largest. The price of the industrial buildings in the Tsuen Wan District was about $4,332 in August, down 1.4% month-on-month. The Kwai Chung, Kwun Tong and Cheung Sha Wan recorded 0.7%, 0.3% and 0.2% respectively. They are about 4,178, 6,907 and 6,561 yuan respectively. On the contrary, Tuen Mun has the largest increase, with the latest price of about $3,608, up by 1.7% from July, and about 1.4% in Kowloon Bay and Chai Wan. The latest price is about $5,689 and $5,519 respectively.