Sales pass 600-mark in industrial sector

Sales of Hong Kong industrial properties surged nearly 30 per cent to more than 600 last month, but the activity will fall to 500 deals this month, say property agents.

There were 627 deals clinched in August, representing 29.3 per cent more than the 485 deals recorded in July, according to Centaline Property Agency.

Total values amounted to HK$1.88 billion, down from July's HK$1.94 billion, as a lower number of high-valued properties were sold during the month.

It was the fourth time in the past two years that that the monthly sales of industrial properties exceeded the 600 level.

Small and big investors also entered the market amid low interest rate environments.

It was a reflection of July's active investment market, as there is typically a time lag of two to four weeks between deeds being executed and lodged for registration.