Property Digest, November 21, 2012

Growth in retail rents still slipping

Retail rental growth in the four major shopping districts slowed for the second consecutive quarter, Colliers International said. Average retail rents went up 2.3 per cent in the third quarter, compared with 3.4 per cent growth in the second quarter. Research director Simon Lo said: "Although buying sentiment has softened amid the economic uncertainties, the strengthening of the yuan maintained Hong Kong's attractiveness towards mainland shoppers." Yvonne Liu

Tycoon sells two houses for HK$348m

Entrepreneur Yu Panglin sold two houses at 21 and 23 Cumberland Road in Kowloon Tong for HK$348.9 million on October 20, information from the Land Registry showed. The houses cover a total site area of 20,214 sq ft. Yvonne Liu