The fees required to conduct the property valuation process should get discussed before the property valuer starts working on the process of valuation of Property valuation This will help you to avoid the loss of extra fees paying to your appointed property valuer in the future when the process will be finished.
However, the market is still suffering from the weak local consumer confidence in short term. Nevertheless, the average yield of shops reached 7–9.5%. The office market which was stable in the first two quarters in 2001, started moving downwards from the third quarter for both sales and leasing. The take-up rate rose throughout this quarter because of satisfactory performance among Grade B offices. Due to economic uncertainty, users prefered to relocate their operations to Grade B office buildings, which are spacious and less expensive.
On the other hand, the interest-rate reduction from 6.75% to 6% in the third quarter, stimulated the office sales market. Investors chose Grade B offices because of superior yields, lower prices, and because that category was in greater demand from end users. Over ten Grade B office en-bloc sales were recorded in this quarter such as Guangdong Building (HK$28,643 psm) and Cheong Kin Commercial Building (HK$37,932 psm).
The burst of the IT bubble and global economic slowdown, further depressed the market. Looking forward, it is expected that both the sales and leasing markets will remain sluggish, as the uncertain external economic environment and the terrorist attack in the US have dampened investor sentiment. a) Flatted Factories The Town Planning Board (TPB) issued a new set of practice notes on 17 July 2001 that expanded the scope of uses permitted in buildings zoned “Industrial” to include IT and Telecommunication industries, subject to payment of a waiver fee.
During the last quarter, the US Government announced a series of unsatisfactory trading statistics, shocking the local export industry. All investment plans were shelved as the industry was expected to face hard times. This translated into a sharp drop in both sales volume and average prices.