「City Treasury」in North Point sold 40% in first 3 hours.

Market source expressed, 「City Treasury」which is phase 1-3 of City Garden in No.233 of Electric Road in North Point and partial sold by CENTRAL DEVELOPMENT LIMITED was put on sale yesterday. There were 318 units in total and about 5 stores at sale price lower than HKD 1 million. It is estimated that about HKD 0.8 billion of cash can be took in if all the units sold. This partial selling attracted many users and investors . It was crowd in the internal purchasing activity which held in Grand Tower of Mong Kok yesterday. More than 100 of interested person competed to make purchasing talks. The selling was really hot and about 40% which was about 120 units sold in first 3 hours. Midland: Commercial store market has sign of rising. The commercial store market was frozen and its trading was largely affected after new strict measures were launched. The Chief Executive Officer of Midland/Hong Kong Properties Commercial Store, Huang Hancheng expressed, the registered quantity in this first half year was about 6,945 cases which decreased about 8.8% comparing with data in same period of last year. The registered amount in first half year was about HKD 75.36 billion which decreased about 0.3% comparing with data in same period of last year. Huang Hancheng continued to say, owners started to accept the reality recently and enlarged the negotiation space. It was predicted that Quality Easing would continue in a certain period, and United States’s economic was going better recently,so the low interest environment would continue to 2015. Plus with the amount of retail industry kept growing, and travelers from mainland were getting more. The officially opening of Cruise terminal in earlier took more mainland travelers to Hong Kong and drove up the retail industry. This supported the commercial store market. 　 Mr. Huang added, the average sq ft price of Hong Kong commercial property in the first half year rose by about 13.3%. The rent was follow and accumulatively rose by about 3.2% in first half year. It was estimated that the rising range of commercial property sale price in second half year might keep still and the rent would also develop in stable. As for office building, the average sq ft price of Hong Kong A grade and B grade office buildings in first half year was at separately rising range of 2.6% and 2.4%. While the rent was in down trend. The sq ft rent of Hong Kong A grade office building fell by about 4.1%. It was predicted that the renting and selling price of office building in next half year would develop in fair. In addition, the sq ft price of Hong Kong core area store in this first half year rose by about 11.4%, while the sq ft price of the second core area store fell by about 12.1%. It was predicted that the sq ft price of Hong Kong core area store in this second half year would fell by about 5%-10% while the rent rose by about 5%. And the sq ft price of second core area store would fall by about 10%-12% while the rent of it would stably develop. The registered amount in June largely rose by 43%. In addition, the inquiry trading quantity in recent months increased. Long term investors and users were getting more and more. According to the statistics of the company, the inquiry trading quantity in June rose by about 50% monthly, while the inquiry renting quantity also rose with range at about 45% monthly.It can see that, investors and users’s confidence of market is back. The hope of more trading appeared. The commercial property registered amount and quantity in June both rose from the bottom. Among, the rising range of commercial property registered amount was the largest which was about 85.6% by month. The rising range of commercial property registered quantity also rose by month. As for commercial store, the registered quantity and price both fell. The overall registered amount of commercial store even largely rose by about 43%. It was believed, the commercial store market was getting out of the bottom and this was the sign of rising.

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