Hong Kong’s newest digital
industrial landmark, iCITY in Kwai Chung, has recorded strong sales. As
of November 22, 232 of the project’s 270 units had been sold, accounting
for 86% of currently available properties in phase one.
Cheng, Soundwill Real Estate Agency Limited, stated that iCITY’s total
sales have reached nearly HK$985.3 million. The average price in terms
of gross floor area was approximately HK$9,477 per square foot, with the
highest transaction price of approximately HK$10,353 per square foot.
The average selling price achieved was around HK$4.247 million,
representing a premium for industrial buildings in Kwai Chung.
its launch, iCITY has received an enthusiastic response, with
transaction prices at above HK$10,000 per square foot,” said Cheng.
“Many prospective buyers made immediate purchases after on-site visits,
so we have full confidence in the current sales performance of this
project and hope to achieve even better results.”
to Cheng, investment purchases accounted for 70% of iCITY buyers while
30% purchased for self-use. Kwai Chung, Tsuen Wan, Yuen Long, and Yau
Tsim Mong were among the major locations where buyers were based,
accounting for 85%. The remaining 15% were distributed across other
areas of Hong Kong.
developer is working with mortgage referral firms and banks to provide
buyers with tailor-made mortgage plans and financing options. Delivery
of iCITY units is expected to commence from December 2023 through
January 2024, as the development has now obtained its occupation permit.
located near the West Kowloon high-speed rail station and the Hong
Kong-Zhuhai-Macau Bridge, iCITY provides convenient connectivity for
businesses between Hong Kong and mainland China. It is also
well-positioned to benefit from the Hong Kong government’s efforts to
attract businesses and talents from across the globe. This, combined
with a scarce supply of comparable new industrial buildings in the city,
has driven strong investor demand, Cheng said.
their exemption from stamp duty and lower financial outlay, these
industrial buildings are highly sought-after for long-term investment by
local investors and new arrivals from mainland China who have now
obtained permanent residency after residing in Hong Kong for seven
years,” Cheng noted.
is located at the junction of Kwai Chung’s Wo Yi Hop Road and Ta Chuen
Ping Street, within a well-established industrial, commercial and
residential community with convenient facilities nearby, including
shopping malls, wet markets, dining, entertainment and leisure
boasts excellent transportation access. Bus and minibus stops are
sitting right next to the project entrance, connected by multiple bus
and minibus routes to areas across Kowloon, Hong Kong and the New
Territories. There is also a seven-seater car service between iCITY and
Kwai Hing MTR Station for easy commuting.
features a full curtain wall façade and equipped with a lift for
sightseeing, providing a 24-hour smart workspace. Spanning 20 floors,
phase one comprises 324 units ranging from 422 to 510 square feet, with
each enjoying an ultra-high 4.2-metre floor-to-floor height* for maximum
flexibility. Added comforts include a private lavatory as well as
split-type air conditioning and electronic door locks within each unit.
Mortgage applications slump 39pc as rates rise
applications in Hong Kong slumped by 39 percent month-on-month in
October to 5,359 cases amid rising mortgage rates, according to data
from the Hong Kong Monetary Authority.
loans approved in the month also dropped by 2.2 percent compared with
September to HK$24.9 billion. Among these, loans financing primary
market transactions jumped by 75.4 percent to HK$5.6 billion while those
for second-hand homes slid by 13.6 percent to HK$8 billion.
Loans for refinancing declined by 13.2 percent to HK$11.3 billion.
outstanding value of mortgages inched up by 0.1 percent to HK$1.86
trillion at end-October, but the delinquency ratio remained unchanged at
All interbank borrowing costs fell in Hong Kong for the first time in nearly a month yesterday.
The mortgage-linked one-month Hong Kong interbank offered rate dipped by 14 basis points to 5.517 percent.
lenders have raised the time-deposit interest rates to draw funds from
customers amid rising Hibor rates, Hong Kong dollar deposits dropped by
0.4 percent while foreign currency deposits rose 0.4 percent. The yuan
deposit value grew by 3.3 percent in October.
The total assets of the Exchange Fund rose by HK$68.2 billion to HK$3.99 trillion as of the end of October.
financial hub booked a cumulative deficit of HK$172.9 billion in the
April-October period, after taking into account the proceeds of HK$66.6
billion received from the issuance of green bonds, the government said.
The fiscal reserves stood at HK$661.9 billion.
the Insurance Authority said new business premiums derived from
mainland visitors slumped by 32.9 percent to HK$15 billion on a
quarterly basis in the third quarter of the year.
The total gross premiums fell by 1 percent to HK$428.6 billion in the first three quarters of the year from a year ago.
HSBC Life said it recorded nearly HK$30 billion in new business premiums in the first nine months of the year.
旺角彌敦道地舖8600萬易手 「木器大王」傅氏家族沽貨 19年升值1.36倍
旺角彌敦道776至778號地下連地庫及1樓，地下建築面積約3060方呎，地庫約2600方呎及1樓約2,358方呎，合共8018方呎，以約8600萬成交，平均呎價10726元，租客包括永興冰室及 SNAP Fitness，月租分別為22.5萬元及17.05萬元，合共39.55萬元，新買家料回報約5.5厘。