Two prices sell 710,000 square feet of farmland in Yuen Long

28Hse Editor  2021-12-08  #Transaction

Nowadays, "the first floor is hard to find." Alternative properties have become a sought-after target for funds, and even agricultural land has been "grabbed". Global Asia Auctions launched 37 property auctions yesterday and successfully sold 3 of them, all of which were non-residential properties. The most special one included a piece of agricultural land in Da Jiang Po, Kam Tin, Yuen Long, with an area of 1,001 square feet and an asking price of 700,000 yuan per lot. The price was 10,000 yuan, and it was bid by two groups of customers. After two bids, it was sold for 710,000 yuan, and the price per square foot was about 699 yuan. reporter Li Zitian

A spokesperson for Huanya Auctions predicts that buyers will purchase farmland for their own use. In addition, the remaining two auctions belonged to silver masters. One of them was the high-rise single room of the Pacific Trade Center in Kowloon Bay, with a construction area of 1,804 square feet. Customers competed for purchase and finally sold for 7.31 million yuan, which is about 4,052 yuan per square foot.

Kwun Tong Industrial Building Bank offers 12% higher offer price

The other silver main board is a single-number parking space in the basement of Kwun Tong Industrial Center. The original price was 2.1 million, and the price was the same as 50,000. Three groups of customers competed for the purchase. The final transaction was about 12% higher to 2.36 million. .

On the other side, Tsai Tingyong of Ricacorp Real Estate said that a second-hand transaction for a double-numbered parking space on the B3 floor of Azure Bay, Hang Hau, Tseung Kwan O, was recently recorded. The parking space has recently changed hands for 1.65 million yuan. It is reported that the original owner purchased the above-mentioned parking space for about 380,000 yuan in January 2007, holding the goods for about 14 years, and now reselling about 1.27 million yuan in profit, and the property has appreciated by more than 3.3 times.

1.65 million parking spaces at Azure Bay changed hands

Cai Tingyong added that parking spaces by the Blue Bay can only be purchased by owners, and the ratio of parking spaces is about 6.6 to 1. New buyers are active investors in the region. Seeing that the rents of parking spaces in the region are rising, the purchase of parking spaces for investment purposes is the first time buying a parking space. In addition, the housing estate currently has only about 8 parking spaces on sale, and the asking price starts from 1.65 million yuan.

Regarding the overall market conditions of parking spaces, Huang Liangsheng, senior co-director of the Centaline Property Research Department, also pointed out that in the first 11 months of 2021, the overall residential parking spaces recorded 8,788 cases and 16.99 billion yuan. Looking forward to the overall registration for the whole year, approximately 9,600 cases and 18.5 billion yuan were recorded. It is expected that the number of cases in the whole year will surpass the high of 9,291 cases in 2017 and hit the third highest in history. This year's temporarily recorded amount has surpassed the high of 16.637 billion yuan in 2018, setting a new year-on-year record. The figures reflect that this year's residential car parking space transactions are brisk, and buyer demand is strong.

Disclaimer: All wordings and pictures which indicated 28HSE editor are the copyright of 28HSE LIMITED. Acknowledgement is required if other parts of this publication are used. The content is for reference only, does not constitute investment advice and it does not mean that 28HSE agreed the points. The area which show in the article is salable area if there is no special circumstances. The pictures is for reference also.

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