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December 23, 2020
HKD $1.3B in Sales Defies Pandemic Downturn
HONG KONG, Dec. 23, 2020 /PRNewswire/ Units at New World Development s grade A commercial building in Cheung Sha Wan, Hong Kong were snatched up in two rounds of sales on 12 and 17 December, taking just one hour each to hit HKD 1.3 billion for total of 74 units. In spite of the pandemic s fourth wave, and with the benefit of the removal by the Hong Kong Government of double stamp duty on non-residential property transactions, the two sales launch were a record-breaker.
New World Development recently announced its price list for No. 888, Lai Chi Kok Road, Cheung Sha Wan, and this became the first commercial property to go on sale following the elimination of the double stamp duty on non-residential property transactions. The average price per sq. ft. of the second round of 44 units released onto the market was HKD 13,275, with the cost of each unit ranging from HKD 7.341 million to HKD 33.737 million.
Sales of shops remain a challenging business thestandard.com.hk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thestandard.com.hk Daily Mail and Mail on Sunday newspapers.