Private home completions in May fell by 75 percent from April in a further sign of a slowdown in developer activity in Hong Kong.

Latest data from the Rating and Valuation Department showed the number of completed private homes fell for four months in a row in May.

The reading in May also marked a new low since October 2020.

For the first five months of this year, the total number of completed homes dropped to 7,222 units, 35 percent fewer than a year ago.

The cumulated number is only 36 percent of the estimated 19,953 units for this year, meaning the market may miss the full-year target, according to the department.

Meanwhile, developers put new homes on market at marked down prices in an accelerated pace to reduce stocks.

Yesterday, a total of 125 new flats at High Park I in Yuen Long were priced an average of HK$13,747 per sq ft after discounts, 11 percent lower than a nearby project sold two years ago.

The marked down price list announced by developer Asia Standard International (0129), the first for the Yuen Long project, followed the 9-percent lower pricing for the first batch of units at La Montagne in Wong Chuk Hang.

After discounts, the 125 units at High Park I are being sold for HK$4.41 million to HK$7.06 million.

They include 26 one-bedroom, 96 two-bedroom, two three-bedroom and one with special features, with saleable areas from 326 to 498 sq ft.

Meanwhile, Henderson Land Development (0012) said more flats at Henley Park in Kai Tak may be put up for sale after more than 7,500 checks for the 82 units on the third price list were received.

Elsewhere in Wong Chuk Hang, Phase 4A of La Montagne saw more than 3,000 groups of buyers visit the showrooms and the developers said more batches may be released for sale subject to market responses.

A property agency believes the developers will continue to price their projects at market levels in the second half to attract homebuyers, expecting home prices to rise 3-7 percent for the whole year.

However, Citi Hong Kong believes local property prices could fall 6 percent in the second half to stay flat for the full year.

Mainlanders may render support to the property market, another property agency said.

The agency said the proportion of individual buyers from the mainland rose to 13 percent in the first quarter, marking an 11-year high. It estimated a total of 100,000 talents from mainland China and other regions will come to Hong Kong this year through various schemes.

(The Standard)

A Property agency says Hong Kong home rents and leasing activity expected to rise in second half, even as analysts paint divergent picture for home prices

The leasing market has reported growth since the reopening of the border, a property agent says

Positive outlook for rents and leasing comes amid divergent forecasts for Hong Kong’s property market in the second half of 2023

Hong Kong home rents are expected to continue rising in the second half of 2023 even as the volatility in home prices persists, a property agency said.

The city’s housing market initially witnessed a recovery in prices after the border with mainland China was reopened in February, according to a report released by the agency on Thursday. The prices of lived-in homes have recorded a cumulative increase of 4.9 per cent over the last five months, even after the price index recorded its first decline in May and fell by 0.7 per cent, the report said.

But persistent high interest rates, recent stock market volatility and geopolitical tensions are all weighing on sentiment and are expected to dampen a recovery in residential prices, an agent said.

The leasing market, on the other hand, has reported growth since the reopening of the border, and has also benefited from a pledge made by the Hong Kong government to attract more talent to the city with its Top Talent Pass Scheme, the agent said.

“This is a good sign for the leasing market,” the agent added. “And it has already been partially reflected in the rental index, which has risen by 4 per cent over the last four months.”

The rental index will put in a more stable performance compared to the price index this year, and it will also slightly outperform home prices by one to two percentage points, the agent said.

“The rental index could increase by around 5 to 8 per cent this year,” the agent added.

The agency’s report comes amid a divergence in forecasts for Hong Kong’s property market in the second half of this year, with some analysts predicting a recovery as the city’s economy rebounds from the coronavirus pandemic, and others warning of ongoing and potential headwinds such as further interest rate hikes.

The agency said it expected more price volatility in the second half and forecast that home prices will rise by 3 to 7 per cent this year. Raymond Cheng, managing director of CGS-CIMB Securities, said he expected home prices to rise by an average of 5 per cent, with interest rates likely to peak this year. His views were echoed by another property agent.

Another property agency, on the other hand, has forecast a drop of up to 5 per cent in lived-in home prices for the whole year and said interest rates as a factor will not fade away until early next year. The agency’s forecast followed similar predictions by another agency and Citi.

In a reflection of the sentiment around leasing activity, Sun Hung Kai Properties said on Thursday that it will launch its new flagship rental project, Townplace West Kowloon, in the second half of 2023. The project with a total of 843 units will be tailor-made for young talent moving to Hong Kong following the introduction of the city’s new immigration policy for hiring top talent.

The policy has increased demand for rental options for young professionals dramatically, the developer said in a statement.

(South China Morning Post)

力寶中心高層單位意向租金10.8萬

有代理表示，金鐘力寶中心二座高層單位，面積約2700方呎，業主意向租金約10.8萬元，呎租約40元。

上述物業裝修新淨，租客可減省裝修開支；物業同時坐擁開揚景觀，屬大廈的優質單位。

該行指出，力寶中心地下及平台設有零售及餐飲商戶，因此吸引著名跨國公司、中資公司、律師事務所等進駐，相信此物業定能吸引用家垂青。

(信報)

更多力寶中心寫字樓出租樓盤資訊請參閱：力寶中心寫字樓出租

更多金鐘區甲級寫字樓出租樓盤資訊請參閱：金鐘區甲級寫字樓出租

外資代理行料寫字樓租金全年跌7%

有外資代理行代理表示，香港甲級寫宇樓租賃活動仍未見明顯反彈，在第二季繼續錄得17.27萬方呎負吸納量，當中以尖沙咀區和中區最為明顯。

整體待租率由第一季的17.1%微升至第二季的17.3%，使甲廈租金繼續下調，按季回落2.1%，年初至今累跌3.6%。

環球經濟情況不穩定，企業擴充步伐審慎，由於下半年將有幾個大型寫字樓項目陸續落成，而待租率高企的情況亦將為寫字樓租金的反彈帶來阻力。預計下半年寫字樓租金將繼續調整，全年或錄得5%至7%跌幅，較年初預期跌2%至4%為高。

該行另一代理指，自通關以來，各核心零售區商舖空置率呈下降趨勢，最新平均空置率約9%，為3年來低位。至於街舖租金，年初至今各區平均升幅約5% 。

過去數月積極進駐一線街道地舖的多以藥妝店和藥房為主，內地客的消費模式已改變，令高端零售商和連鎖品牌不敢輕舉妄動，也未見他們有明確的擴張意欲。而且通關之後，港人出境的人次比來港旅客人數還要多，變相流失部分本地消費力，故對下半年的租金走勢持審慎觀望態度。

住宅市場方面，高息環境拖慢買家入市步伐，5月及6月住宅買賣宗數減少，第二季住宅物業成交宗數約1.22萬宗，較今年第一季下調13%，比上年同期少18%。該行另一代理認為，即使下半年息口見頂，高息環境亦將會維持一段時間。另外，最近股票市場波動、外圍經濟復甦緩慢等因素均會抑制買家入市情緒，壓抑住宅市場交投及樓價表現。

預期下半年發展商將繼續積極推盤去貨，並以貼近二手市場開價的策略和不同優惠條款吸引買家，而二手市場步伐則相對慢熱。預計全年樓價升幅介乎3%至7%，租金料升5%至8%；住宅成交量則按年升10%至15%，達約5萬伙左右。

(信報)

晉逸維園酒店4.68億售 買家嘉華相關人士

「越南朱」朱立基持有的北角晉逸維園精品酒店易手，買家為嘉華國際相關人士，作價4.68億，平均呎價10808元。嘉華相關人士透過CHARMFIELD PACIFIC LIMITED購入，該公司董事包括呂耀華及尹紫薇，呂氏為嘉華國際執行董事，尹紫薇為嘉華國際香港地產發展及租務總監。

平均每呎10808元

市場消息透露，該項目除了基座鋪位外，樓上為住宅契，料發展商重建物業，得以退還昂貴的釐印費；該項目佔地面積約4100方呎，樓高23層，共提供132間房，每個房間作價約355萬，總樓面約4.33萬方呎，平均呎價10808元。

該物業位於英皇道31至33號及銀幕街18及20號，與琉璃街交界3面單邊，地下及1樓商鋪總面積約9441方呎。

(星島日報)