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12/12 News Roundup: Metro City & Dawning Views Carparks Set Record Prices, 26 Transactions Recorded in 100 Main Estates

Hong Kong Property | December 12, 2016

Metro City & Dawning Views Carparks Set Record Prices
Carparks in Tseung Kwan O’s Metro City and Fanling’s Dawning Views transacted in all-time high prices yesterday. A parking space in Metro City Phase 2 was sold at HK$1.2 million, 11% higher than the original record in HK$1.08 million. Meanwhile, two parking lots in Dawning Views were both sold at HK$1.28 million, 6.7% more expensive than the original record in HK$1.2 million.

26 Transactions Recorded in 100 Main Estates
Second hand market remains fairly static after the government’s cooling measures and before Christmas, the traditional off-season for home buying. In the past weekend, 26 transactions among the hundred main housing estates were recorded, double the number in the previous week. A 1,015-square-foot unit in Taikoo Shing was sold at HK$20.68 million or HK$20,374 per square foot, which is the highest cost per square foot of standard flats in the estate.

Rental Prices Go Down After Cooling Measures
Landlords are turning their listings for sale into rentals, making a slight decrease in rental prices of some housing estates. Agent said there are 6 to 7 rental listings in Telford Gardens, compared to zero listings last month. Yet it is still much less than last years’ 15 to 20 listings. On the other hand, the rental price of Tin Shui Wai’s Kingswood Villas falls below HK$10,000, with a price of HK$9,300 and HK$9,800 in two recent rental transactions.

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