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.
However, Ricacorp Properties expects sales volume will fall to 500 deals next month as investment sentiment has been weakening after the government announced measures to curb speculation.
The industrial market had also been affected, the research report issued by Ricacorp Properties said.
According to the data compiled by Ricacorp Properties in 10 industrial districts, the biggest growth in sales volume last month was seen in Sha Tin, with a rise of 109 per cent to 89 deals, followed by San Po Kong and Kwun Tong, up 43 and 41 per cent.
Sha Tin soars
In 10 industrial districts, the biggest growth in sales volume last month was seen in Sha Tin with this percentage rise: 109%