October 2009 Condo Directory – East Coast – D15 & D16 Prices

Singapore East Coast from Sands SkyPark

Condo Name Street PSF Tenure Year
11 Amber Road Amber Road S$700 F 2005
833 M B Residences Mountbatten Road N/A F 2012
9 @ Seraya Seraya Lane N/A F 2009
Aalto Meyer Road S$2,436 F 2012
Aldea Blanca Upper East Coast Road S$640 F 1970
Alpha Apartments Koon Seng Road S$531 F 2005
Amber Park Amber Gardens S$746 F 1986
Amber Point Amber Road S$929 F 2000
Amber Residences Amber Road S$1,070 F 2012
Amber Towers Amber Road S$852 L99 2000
Amberglades Amber Gardens S$888 F 2000
Amberville Marine Parade Road S$632 L99 2000
Anchor Gardens Upper East Coast Road S$524 F 2000
Apollo Gardens Sunbird Circle S$651 F 2000
Aquarine Gardens Upper East Coast Road S$678 F 2004
Aquarius By The Park Bedok Reservoir View S$608 L99 2002
Aquene Lorong Bandang S$849 F 2008
Arthur 118 Arthur Road S$929 F 2006
Arthur Mansions Arthur Road S$960 F 2000
Aspen Loft Joo Chiat Terrace S$681 F 2005
Axis @ Siglap East Coast Terrace S$883 F 2010
Balcon East Upper East Coast Road S$841 F 2012
Bayshore Park Bayshore Park S$755 L99 1986
Baywater Bedok Reservoir Road S$618 L99 2006
Bedok Court Bedok South Avenue 3 S$457 L99 1985
Bedok Park Limau Garden S$601 F 1970
Bedok Ria Bedok Ria Crescent S$790 F 1993
Bellezza @ Katong Ceylon Road S$662 F 2007
Bleu @ East Coast Upper East Coast Road S$740 F 2010
Blu Coral Condo Lor L Telok Kurau S$750 F 2011
Breeze By The East Upper East Coast Road S$806 F 2011
Butterworth 33 Butterworth Lane S$713 F 2006
Butterworth 8 Butterworth Lane S$797 F 2004
Butterworth View Butterworth Lane S$699 F 1999
Cadence Light Telok Kurau Road S$625 F 2007
Callidora Ville Lor N Telok Kurau S$724 F 2009
Camelot Tanjong Rhu Road S$1,172 L99 2001
Canary Park Jalan Simpang Bedok S$604 F 1992
Cantiz @ Rambai Rambai Road S$768 F 2011
Casa Aroma Chiku Road N/A F 2003
Casa Merah Tanah Merah Kechil Avenue S$772 L99 2010
Casa Meyfort Meyer Road S$648 F 1992
Casafina Bedok South Ave 1 S$566 L99 2000
Cascadale Upper Changi Road East S$533 F 1994
Casero @ Dunman Dunman Road S$895 F 2008
Casuarina Cove Tanjong Rhu Road S$659 L99 1996
Celestia Joo Chiat Terrace S$576 F 2010
Ceylon Crest Ceylon Road S$782 F 2005
Changi Court Upper Changi Road East S$680 F 1997
Changi Green Upper Changi Road East S$700 F 2001
Chapel Lodge Lorong Stangee S$804 F 1994
Chateau La Salle La Salle Street S$554 F 2012
Chelsea Lodge Tanjong Katong Road S$728 F 2000
Coastarina East Coast Road S$847 F 2006
Costa Del Sol Bayshore Road S$988 L99 2003
Costa Este Lorong K Telok Kurau S$749 F 2010
Costa Rhu Rhu Cross S$879 L99 1998
Cote D’Azur Marine Parade Road S$1,002 L99 2005
Country Park Condo Bedok Road S$733 F 2003
Crane Court Crane Road S$775 F 2004
Crescendo Park Jalan Tua Kong S$662 F 1996
Crystal Rhu Tanjong Rhu Road S$985 F 2000
D’Ecosia Still Road South S$580 F 2003
D’Fresco Joo Chiat Lane S$787 F 2011
D’Manor Tanah Merah Kechil Ave S$439 L99 2001
D’Marine Joo Chiat Road S$825 F 2005
D’Sunrise Joo Chiat Lane S$627 F 2006
D’Wilkinson Wilkinson Road S$877 F 2006
Dawn Ville Butterworth Lane S$705 F 1999
De Casalle Lor N Telok Kurau N/A F 1996
De Centurion Tanjong Rhu Road S$1,081 F 2010
Dunman Place Dunman Road S$796 F 2001
Dunman View Haig Road S$824 L99 2004
E-Space Lorong K Telok Kurau S$828 F 2008
East Bay Tay Lian Teck Road S$758 F 2012
East Coast Hill Sennett Avenue S$609 F 1977
East Coast Mansions East Coast Road S$683 F 1970
East Coast Residences Upper East Coast Road S$859 F 2010
East Elegance Joo Chiat Terrace S$664 F 2007
East Galleria Sea Avenue S$860 F 2008
East Grove East Coast Road S$619 F 1970
East Meadows Tanah Merah Kechil Rd S$681 L99 2001
East Palm Palm Road S$948 F 2004
East Signature Elliot Walk S$911 F 2005
East View Brooke Road S$808 F 1999
Eastern Lagoon I Upper East Coast Road S$735 F 1985
Eastern Lagoon II Upper East Coast Road S$942 F 1985
Eastwood Centre Eastwood Road S$575 L99 1998
Eastwood Green Eastwood Road S$563 L99 1999
Eastwood Park Eastwood Walk S$475 L99 1998
Eastwood Ville Eastwood Terrace S$422 L99 1998
Ebony Mansions Lorong M Telok Kurau S$690 F 1995
Eight @ East Coast Upper East Coast Road S$533 F 2009
Emerald East Tanjong Rhu Road S$1,139 F 1998
Emery Point Ipoh Lane S$718 F 2005
Emprado Suites Lorong N Telok Kurau S$895 F 2009
Equatorial Apartments Meyer Road S$954 F 1977
Espira Residence Lorong K Telok Kurau S$641 F 2010
Espira Spring Lorong G Telok Kuarau S$805 F 2010
Esterina Haig Avenue N/A F 2009
Estique Rose Lane S$997 F 2007
Excelsior Gardens Minaret Walk S$806 F 1991
Fairmount Condo Eastwood Road S$664 L99 2000
Fernwood Towers Fernwood Terrace S$817 F 1994
Finland Gardens East Coast Avenue S$619 F 1989
Fort Gardens Fort Road S$814 F 1993
Fortredale Tanjong Rhu Road S$678 F 1999
Fortune Jade Dunman Road S$814 F 2004
Frankel Estate Siglap Road S$919 F 1970
Fruition Mangis Road S$631 F 2009
Galaxy Towers Onan Road S$563 F 1989
Gallery 8 Pulasan Road S$641 F 2004
Goldearth Lodge Joo Chiat Place S$623 F 2002
Goldearth View Joo Chiat Place S$724 F 1970
Gracious Mansions Jalan Rendang S$632 F 1970
Grand Duchess at St Pat’s Saint Patrick’s Road S$958 F 2010
Grand Residence Lorong G Telok Kurau S$558 F 2008
Haig Court Haig Road S$840 F 2004
Haig Eleven Haig Avenue S$740 F 2006
Haig Gardens Ipoh Lane S$619 F 1980
Hawaii Tower Meyer Road S$971 F 1984
Heritage Residences Lorong L Telok Kurau S$623 F 2008
Homey Gardens Lorong M Telok Kurau S$702 F 2004
Idyllic East Upper East Coast Road S$795 F 2011
Idyllic Residences Lor M Telok Kurau S$587 F 2009
Imperial Heights Ipoh Lane S$1,150 F 2009
Ivory Ceylon Lane S$662 F 2012
JC Residence Joo Chiat Lane S$560 L99 2006
Katong Gardens Tembeling Road S$640 F 1984
Katong Omega Apt East Coast Road N/A F 1988
Katong Park Towers Arthur Road S$695 L99 1987
Kew Gate Limau Garden N/A L99 1997
Kew Green Kew Crescent S$422 L99 1998
Kew Residencia Kew Crescent S$405 L99 1997
Kew Vale Collection Kew Avenue S$633 L99 1997
King’s Mansion Amber Road S$873 F 1980
La Meyer Meyer Road S$960 F 1994
Lagoon View Marine Parade Road S$511 L99 1970
Laguna 88 Eastwood Road S$602 L99 2001
Laguna Green Jalan Hajijah S$693 L99 1999
Laguna Park Marine Parade Road S$757 L99 1993
Laguna Villas Upper East Coast Road N/A F 1993
Landbay Condo Jalan Hajijah S$767 F 1999
Le Conney Park (phrase 2) Lorong L Telok Kurau S$573 F 1997
Le Merritt Lorong M Telok Kurau S$803 F 2008
Legenda @ Joo Chiat Joo Chiat Lane S$605 L99 2004
Limau Villas Limau Terrace S$699 L99 1998
Livingston Mansions Lorong L Telok Kurau S$598 F 2002
Lucky Court Lucky Heights S$530 F 1990
Mabelle Lor M Telok Kurau S$785 F 2010
Malvern Springs Onan Road S$682 F 2004
Mandarin Gardens Siglap Road S$691 L99 1986
Marine Point Marine Parade Road S$545 F 1985
Martia 8 Martia Road S$568 F 2002
Martia Residence Martia Road S$508 F 2007
Maya Still Road S$693 F 2007
Meier Suites Margate Road N/A F 2014
Mera Terrace Seagull Walk S$669 F 1997
Meyer Park Meyer Road S$1,194 F 1985
Meyer Residence Meyer Place S$1,208 F 2009
Mia Place Arthur Road N/A F 1997
Mistral Park Jalan Angin Laut S$626 F 1995
Mountbatten Lodge Mouthbatten Road S$1,304 F 1998
Mountbatten Regency Mouthbatten Road S$745 F 2007
Mountbatten Suites Mountbatten Road S$725 F 2009
Naturalis Lor M Telok Kurau S$820 F 2011
Neptune Court Marine Vista S$581 L99 1975
Ocean Park East Coast Road S$845 F 1983
Odeon Katong Shop’ Com East Coast Road S$810 L99 1970
OLA Residences Mountbatten Road S$965 F 2012
One Amber Amber Gardens S$1,115 F 2010
One @ Pulasan Pulasan Road S$1,012 F 2009
One Fort Fort Road S$1,052 F 2005
One K Green Lane Green Lane S$624 F 2005
Opera Estate Carmen Street S$724 F 1980
Optima @ Tanah Merah New Upper Changi Road S$821 L99 2014
Ovada 8 Koon Seng Road S$609 F 2002
Palazzetto Tanjong Rhu Road S$917 F 2003
Palm Galleria Lor K Telok Kurau S$947 F 2010
Palm Loft Joo Chiat Terrace S$554 F 2008
Palm Oasis Lorong H Telok Kurau S$836 F 2009
Palm Vista Lorong G Telok Kurau S$739 F 2010
Palmwoods Upper Changi Road S$558 L99 2000
Paradise Palms Dunman Road S$833 F 2003
Parbury Hill Condo Parbury Avenue S$749 F 1998
Parc Seabreeze Joo Chiat Road S$1,269 F 2012
Park East Jalan Tua Kong S$710 F 1994
Parkshore Tanjong Rhu Road S$999 F 1995
Parkway Mansion Amber Road S$616 F 1982
Peach Garden Peach Garden S$886 F 1970
Pebble Bay Tanjong Rhu Road S$1,122 L99 1998
Picardy Gardens Jalan Pari Burong S$445 F 1975
Pine View Lorong K Telok Kurau S$564 F 1970
Pinehurst Condo Lorong L Telok Kurau S$638 F 1995
Poshgrove East East Coast Road S$860 F 2008
Prestige Residence Lorong G Telok Kurau S$867 F 2008
Rambutan Mansions Rambutan Road S$574 F 1994
Residence 118 Lorong L Telok Kurau S$715 F 2006
Residence 66 Telok Kurau Road S$700 F
Residences @ Limau Limau Grove S$585 F 2007
Residences @ Stangee Lor Stangee S$517 F 2010
Residences 81 Lorong G Telok Kurau N/A F 2010
Rich East Garden Upper East Coast Road S$565 F 1983
Ritz Regency Ipoh Lane S$820 F 2010
Rivage Margate Road S$984 F 2009
Riveredge Sampan Place S$862 L99 2008
Riviera Residences Riviera Drive S$847 F 2008
Rose Mansions Rose Lane S$664 F 2002
Rose Ville Rose Lane S$607 F 1995
Roxy Square Brooke Road N/A F 2000
Royale Mansions Pulasan Road S$620 F 1992
Saint Patrick’s Loft Saint Patrick’s Road S$759 F 2010
Sanctuary Green Tanjong Rhu Road S$829 L99 2003
Santa Fe Mansions Margate Road S$966 F 1998
Sea Avenue Residences Sea Avenue S$842 F 2006
Seaview Point Amber Road S$704 F 1994
Seraya Breeze Seraya Road S$664 F 2003
Seraya Ville Seraya Lane S$555 F 1992
Shu Jin Court Lorong K Telok Kurau S$559 F 1970
Siglap Court Siglap Road S$835 F 1970
Signature Crest Gray Lane S$680 F 2006
Signature Residence Green Lane S$846 F 2008
Singa Garden Mouthbatten Road S$655 F 1970
Spring @ Katong Ceylon Road S$647 F 2007
Spring @ Langsat Langsat Road N/A F 2013
Springvale East Coast Road S$662 F 1995
St Patrick’s Garden Saint Patrick’s Road S$664 F 1981
St Patrick’s Villa Saint Patrick’s Road S$548 F 1970
Stillingia Court Still Road S$996 F 1970
Stratford Court Bedok Ria Crescent S$559 L99 2000
Suites @ Amber Amber Road S$1,350 F 2011
Summer Gardens Upper Changi Road East S$380 L99 2004
Sunhaven Upper Changi Road S$673 F 2003
Sunny Palms Lorong G Telok Kurau S$370 F 2004
Sunshine Grandeur Lorong K Telok Kurau S$944 F 2008
Sunshine Mansions Joo Chiat Place S$596 F 2006
Sunshine Regency Rambai Road S$651 F 2007
Sunshine Residences Lorong K Telok Kurau N/A F 2006
Taipan Grand Marine Parade Road S$889 F 2005
Tanah Merah Green Jalan Tanah Rata S$719 F 2000
Tanamera Crest Pari Dedap Walk S$624 L99 2004
Tanjong Ria Condo Tanjong Rhu Road S$800 L99 1997
Telok Indah Lorong G Telok Kurau S$447 L99 1996
Telok Kurau Court Telok Kurau Road S$432 F 1970
The Adara Chapel Road S$626 F 2013
The Albracca Meyer Road S$565 F 1990
The Amarelle Lim Ah Woo Road S$800 F 2010
The Ambra Lor H Telok Kurau S$570 F 2012
The Ambrosia Lor N Telok Kurau S$835 F 2011
The Amery Lor K Telok Kuaru S$809 F 2012
The Aristo Amber Road S$1,074 F 2013
The Atria at Meyer Meyer Road S$1,003 F 1996
The Azzuro Lor H Telok Kurau S$589 F 2014
The Bale Lorong H Telok Kurau S$796 F 2008
The Baycourt Upper East Coast Road S$716 F 1994
The Bayshore Bayshore Road S$736 L99 1999
The Beacon Edge Tembeling Road S$670 F 2010
The Belvedere Meyer Road S$1,151 F 2008
The Carpmaelina Carpmael Road S$628 F 2005
The Clearwater Bedok Reservoir View S$682 L99 2002
The Daffodil Upper East Coast Road S$740 F 1999
The East Side Joo Chiat Road N/A F 2006
The Espira Lorong L Telok Kurau S$775 F 2010
The Esta Amber Gardens S$877 F 2009
The Geranium Mangis Road S$707 F 2007
The Glacier Joo Chiat Place S$508 F 2005
The Glenwood Regency Tanjong Rhu Road S$801 F 1985
The Hacienda Hacienda Grove S$650 F 1985
The Lucent Lor N Telok Kurau S$620 F 2012
The Makena Meyer Road S$1,124 F 1998
The Medley Lor G Telok Kurau S$898 F 2009
The Mint Residences Joo Chiat Terrace S$656 F 2008
The Montage Lorong M Telok Kurau S$788 F 2010
The Nclave Lorong N Telok Kurau S$766 F 2008
The Prominence Haig Road S$566 F 2006
The Sea View Amber Road S$1,294 F 2008
The Seafront on Meyer Meyer Road S$1,311 F 2011
The Silver Fir Butterworth Lane S$876 F 2012
The Sovereign Meyer Road S$1,401 F 1993
The Springfield Chempaka Kuning Link S$444 L99 1999
The Summit Upper East Coast Road S$708 F 1994
The Sunnidora Lor G Telok Kurau S$814 F 2006
The Sunny Legend Lorong H Telok Kurau S$715 F 2006
The Taipan Jalan Hajijah S$515 F 2003
The Tanamera Tanah Merah Kechil Rd S$593 L99 1994
The Treeline Lorong G Telok Kurau S$851 F 2008
The Tropic Gardens Upper East Coast Road S$573 F 1995
The Vermilion Lorong G Telok Kurau S$488 F 1970
The Verte Lorong H Telok Kurau S$613 F 2012
The Vesta Lorong K Telok Kurau S$699 F 2008
The View @ Meyer Meyer Road S$1,330 F 2010
The Waterside Tanjong Rhu Road S$1,100 F 1993
Tierra Vue Condo Saint Patrick’s Road S$995 F 2010
Tropicana Jalan Tiga Ratus S$514 L999 1994
Venezio Upper East Coast Road S$662 F 2006
Veranda Lor K Telok Kuaru S$632 F 2007
Versailles Hemmant Road S$580 F 2004
Versilia On Haig Ipoh Lane S$888 F 2012
Vertis Amber Gardens S$800 F 2009
Villa Marina Jalan Sempadan S$607 L99 1999
Villa Martia Martia Road S$745 F 2000
Villas La Vue Siglap View N/A F 2010
Vitra Tembeling Road S$774 F 2009
Water Place Tanjong Rhu Road S$1,063 L99 2004
Waterfront Waves Bedok Reservoir Road S$718 L99 2012
Whitfield Garden East Coast Terrace S$589 F 1970
Worthington Butterworth Lane S$826 F 2008
Yi Li Apartment Tay Lian Teck Road N/A F 1970
Zephyr Park Sea Breeze Avenue N/A F 1993

Kwek Leng Beng

Haute Living, 27 June 2007

Kwek Leng Beng is pure business.

He is known for being highly driven, and addicted to making deals. This billionaire magnate and international property developer has amassed a plethora of hotels that span the globe from London to New York to China, but Kwek’s real passion is making an indelible mark on his beloved city of Singapore’s dynamic, changing skyline.

Kwek, whose UK-based Millennium & Copthorne (M&C) Hotels Plc group once owned half of the prestigious Plaza hotel in New York, is taking his hotel know-how and developing the St. Regis Residences, Singapore, among other projects. As Singapore’s first hotel and residence property, St. Regis Residences will introduce world-class designs to this island nation, and set the country’s new luxury real estate benchmark.

Continue reading “Kwek Leng Beng”

Singapore eyes Malaysia for cheaper living

Singapore eyes Malaysia for cheaper living
Financial Times, 4 Feb 2013
By Jeremy Grant in Singapore

When Tina Ward, a Singaporean mother of two, and her British husband realised they were outgrowing their cramped, government-built apartment in Singapore, they took a gamble.

Instead of trying to find bigger accommodation in the island city-state, the Wards looked across the Singapore Strait to abandoned palm oil plantations on the southern tip of Peninsular Malaysia where land goes for a fraction of what it does on the Singaporean side of the border.

Now, four years later, the family lives in a seven-bedroom mansion with a swimming pool in a community populated by expatriate escapees from Singapore, which is itself just a 30-minute drive away.

“It’s the best decision we made in our lives,” Mrs Ward says.

The Wards were early settlers in Ledang Heights, part of a huge special economic zone called Iskandar that spans a 2,200 sq km area three times the size of Singapore and roughly the size of Luxembourg.
Continue reading “Singapore eyes Malaysia for cheaper living”

When best to buy a KLCC condo

Question:

Hi Peter,

I am a Singaporean working in China and now in my late 40s.

I am interested in investing in a KLCC (Kuala Lumpur city centre) condo unit. I have been doing research over Internet for the last 18 months, and visited the KLCC area in July.

A Citibank report indicated that there will be new condo units completed in the KLCC area – 2,500, 4,500 and 3,500 units in 2012, 2013 and 2014.

I am aware that the occupancy rate could be low ( less than 50%) with existing KLCC condo units.

I am prepared to buy and hold for at least five years, and be prepared to be leave it empty (difficult to rent out?) for 18 months.

My question:|
When would be the best time to enter the market? 2013 or 2014 or even later?

Should I buy directly from the developer or from resale market?

Thanks for any advice.

Regards,
Kevin Li

Continue reading “When best to buy a KLCC condo”

Anaemic sales show up in bottom line

Anaemic sales show up in bottom line
Developers of upmarket homes feeling the pinch as curbs bite
By Gan Yu Jia


UNITS UNSOLD – THE MARQ: Fewer than half the units at The Marq on Paterson Hill, completed last year, have been sold. Developer SC Global has warned of a first-quarter loss of $10 million.


8 NAPIER: The project has 18 unsold units out of 46. HSR Property Group’s Mr Donald Han said there were only 17 or 18 high-end property transactions in January.

TWO recent corporate announcements by luxury developers SC Global Developments and Ho Bee Investment have highlighted how the high-end residential market has almost ground to a halt.
Continue reading “Anaemic sales show up in bottom line”

HK must kick its property addiction

HK must kick its property addiction
Andy Xie warns that Hong Kong’s dependence on the housing sector to drive economic growth is feeding another asset bubble. When it bursts, he says, the government should resolve to kick the addiction

Apr 23, 2012

Hong Kong did not learn from the property crash and economic collapse of 1998. Instead, it has tried hard to reinflate the bubble. After squeezing supply for over a decade and with the help of the US Federal Reserve’s zero interest rate, the bubble is back. But it is a Pyrrhic victory.
Continue reading “HK must kick its property addiction”

Home of HK$33 wontons could fetch HK$180m

An example of why you should never sell a good asset.

Home of HK$33 wontons could fetch HK$180m
Ho Hung Kee’s landlord puts famed noodle shop up for sale amid Causeway Bay retail boom just a year after buying it from family for HK$100m
Sandy Li
SCMP Apr 11, 2012

A 1,000 square foot noodle shop that has survived in Hong Kong’s cutthroat restaurant market for 38 years and boasts a Michelin star is in the news – but not for its lunchboxes.

Just a year after being sold for HK$100 million, the long, narrow shop space that houses Ho Hung Kee is up for sale again and could fetch nearly twice the price. The street-level shop at 2 Sharp Street East in Causeway Bay, the world’s second-most expensive street for retailers, is now valued at around HK$180 million – including its 600 sq ft cockloft.

The Ho family, who have operated Ho Hung Kee since 1946, bought the shop for HK$350,000 in 1974, but decided to cash in on rocketing retail property prices, and last year sold the shop to an investor for HK$100 million on a two-year lease-back.

Property consultants said the wonton noodle restaurant currently pays about HK$125,000 a month in rent, and the lease is due to expire in mid-2013. Not counting utilities, salaries and food costs, that means Ho Hung Kee needs to sell 126 of its HK$33 bowls of wonton noodles a day, seven days a week, to cover the monthly rent payment.

Isaac Wai, a senior marketing manager at Ricacorp Properties said a 400 sq ft shop selling T-shirts at 9 Sharp Street East, opposite Ho Hung Kee, is paying HK$170,000 a month, while another at 7 Sharp Street East is being offered for lease at HK$200,000 a month.

“The shop could definitely pay HK$250,000 in rent a month, and if it changes hands at a higher price, it’s logical for the new owner to raise the rent when its lease is due for renewal,” he said.

It is unclear how the property sale will affect the noodle shop, still run by the Ho family, according to a woman who identified herself as the owner.

“It’s too early to say,” she said. “We’ll continue with business as usual because our lease hasn’t expired yet.”

But she also said it would be tough to survive if the landlord raised the rent significantly.

“We only charge HK$33 for a bowl of wonton noodles. But thanks to our loyal customers, our business is still strong at the moment.”

The family plans to open a new shop in the soon-to-be opened Hysan Place in Causeway Bay, she said.

Yesterday, the property’s owner appointed Colliers International to offer the shop for sale.

Pierre Wong Tsz-wa, chief executive of commercial property agency Midland IC & I, said the owner wanted to cash in on the retail boom.

“Due to tight supply, retail shops in Causeway Bay have fetched jaw-dropping prices,” said Wong, who estimated that the shop, with its proximity to Times Square, could fetch as much as HK$180 million .

Helen Mak, director of retail services at Colliers International Hong Kong, said two recent transactions in nearby Lee Garden Road had generated more than HK$200,000 per square foot.

“Space is scarce, so retail properties in the district are being snapped up the minute they come on the market because investors see the potentially high returns,” she said.

The monthly rent for Ho Hung Kee in the current market could go as high as HK$350,000, she said.

Bears on rise in home market

Bears on rise in home market
Economic worries and rising mortgage rates expected to push Hong Kong property prices down for at least a year, ending two years of stunning rises
Peggy Sito and Paggie Leung
SCMP Nov 09, 2011

Bulls are quitting the city’s housing market as the betting from analysts swings towards the view that home prices have entered a falling cycle that will last for at least the next 12 months.

Though opinions differ on whether the city has already tipped from a bull to a bear cycle, there is widespread agreement that prices could fall between 5 per cent and 20 per cent because of the rising cost of home loans and the economic concerns locally and abroad.

In the unlikely event that the Hong Kong economy suffers a hard landing, home prices could collapse by as much as 45 per cent, according to Barclays Capital Research.

“Clearly, the market is going through a period of soul-searching and undergoing a reality check, with many now sitting out the global turmoil and those that are buying dictating the level of pricing rather than the vendor,” said Nicholas Brooke, chairman of consultancy Professional Property Services.
Continue reading “Bears on rise in home market”