The retail atmosphere is weak
Recently, the market has recorded sporadic shop transactions. The owners have reduced their prices significantly and even eclipsed, reflecting the poor investment climate in the market.
Recently, the number of transactions in the core area has remained low. The owners have generally made price reductions. Individuals have even recorded eclipses. The news indicates that the ground floor of 466-472 Nathan Road, Mong Kok, covers an area of about 500 square feet and is sold for about $15 million. The price is about 30,000 yuan. The shop is rented by the restaurant at a monthly rate of 42,000 yuan, and the return rate is about 3.6 percent. It is reported that in 2011, the original owner purchased the shop for 16.48 million yuan. It was sold for about 20 million yuan earlier. After the contract was not accepted, the price was reduced by 25%. The goods were sold for 8 years and the price was about 1.48 million yuan. .
Mong Kok’s consecutive record price cuts
In addition, the No. 717 Nathan Road, No. 717, covers an area of about 600 square feet. The current tenant is a pharmacy. The owner sold it for $55 million earlier. Recently, the price was reduced to 39 million yuan. The price was reduced by 16 million yuan. The decrease was nearly 30%, and the transaction price was 65,000 yuan. The original owner purchased the shop for 30 million yuan in 2011, and earned 9 million yuan in easy-to-use books for 8 years.
In the Tsim Sha Tsui area, the site of the Fortune Road Garfield Building changed hands. The property area was about 330 square feet. It was about $25 million. The price was about $76,000. The building is located on Carnarvon Road and the Humphreys Road, while the shop is facing the Humphreys Road, which is less crowded than Carnarvon Road. The original owner had previously sold the shop at 40 million yuan and was not accepted. The final price was reduced by 15 million yuan, a decrease of about 38%. The owner bought it at 7.6 million in 1992, and still made a profit of 17.4 million after the price reduction. Yuan, the bunker appreciated 2.2 times.
North Point Bookstore Street Shop 23 million change hands
In addition to the core area, the Minsheng District has reduced the price. For example, the first floor of the Meilun Building, No. 1 to 25, North Point Book Street, covers an area of about 600 square feet and is sold for about 23 million yuan. The price is about 38,000 yuan. It is rented about 65,000 yuan per month, and the return rate is about 3.4%. It is reported that the original owner had previously sold the shop for 30 million yuan, and the price was reduced by 7 million yuan, a decrease of about 23%. The original owner bought it for 16 million yuan in 2010, and the contractor changed hands for 9 years, still earning about 7 million. Yuan left the market and the property appreciated 44%.
Local political events have not yet subsided, directly affecting retail and catering businesses. Shop rents are expected to be difficult to maintain, thus affecting shop prices. In fact, the shop owners generally have strong ability to hold goods. However, they only entered the market during the peak period of the market in 2010-2013. In the current market, they are willing to sell the property at a reduced price. The price of the shop and the rent will fall again during the year.