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Emperor gains $214m in Shau Kei Wan sale

Emperor International (0163) said it expected to record a gain of HK$214 million from the disposal of a site in Shau Kei Wan at a consideration of HK$688 million.

The 5,900-square-feet site at 67-77 Nam On Street was originally occupied by three adjoining old buildings which it started to acquire earlier and unified their ownership in the middle of this year.

The proceeds will be used for business development and as general working capital and the transaction is expected to be completed on April 29, 2022.

Also announcing asset disposals yesterday was clothing company Bossini International (0592), which sold two adjacent units in an industrial building to property developer Chevalier International (0025) for HK$184.7 million.

The two rooms in Cheung Fung Industrial Building in Tsuen Wan with a total gross floor area of 41,051 sq ft are expected to bring a profit of HK$173 million to Bossini upon completion of the deal, it said in an exchange filing.

Meanwhile, in the primary market, the second round of sales of the Yoho Hub atop Yuen Long MTR Station will take place on Sunday, said the developer Sun Hung Kai Properties (0016). A total of 209 units including 204 units in price lists and five via tenders will be available on the day.

(The Standard)


Lifestyles of the ultra wealthy: 2 Hong Kong addresses had the city’s 5 priciest homes in 2021

Most transactions this year concentrated in Mount Nicholson on The Peak and 21 Borrett Road in Mid-Levels

‘New Hongkongers’, or recent permanent residents, comprised 60 per cent of the owners at these two developments

Hong Kong saw the record for per square foot prices of luxury homes being set a couple of times in 2021.

Most of these transactions were concentrated in two areas: Mount Nicholson on The Peak and 21 Borrett Road in Mid-Levels.

Nan Fung Development and The Wharf (Holdings) paid HK$10.4 billion (US$1.33 billion) for the Mount Nicholson site in an auction in July 2010. At HK$32,014 per square foot, it was the third-highest land price in the city’s history at the time. Analysts had expected it to sell for between HK$8.7 billion and HK$11.4 billion. The 2.33-hectare site was the location of government staff quarters that had sat empty for years.

The site at 21 Borrett Road was sold to the then Cheung Kong (Holdings) in June 2011 for HK$11.65 billion in an auction. Analysts had expected the site to fetch between HK$12 billion and HK$15 billion. The price paid was the second highest at that time, just behind the HK$11.82 billion paid in 1997 for the Island Resort site in Siu Sai Wan. At HK$26,763 per square foot, it was also the third-highest at that time.

“New Hongkongers”, or those who have recently acquired permanent residency in the city and do not have to pay the extra 30 per cent stamp duty levied on non-permanent residents for property purchases, comprised 60 per cent of the owners at these two developments, according to land title searches conducted by the South China Morning Post in June.

Such buyers preferred the large flats of these two projects to houses as they tended to divide time between Hong Kong and mainland China, and these flats required less maintenance, a property agent said. Many bought two neighbouring flats for larger spaces as well.

More record-breaking deals are expected in 2022, as developers tend to sell new luxury homes slowly to generate the highest price possible, the agent said. Moreover, with the border with mainland China expected to open in the new year, mainland buyers are expected to return to the Hong Kong housing market and drive up sales.

Here are this year’s top five buyers of the most expensive new flats in Hong Kong on a per square foot basis.

Lau Chauin

Lau, the daughter of Lau Chi-keung, the chairman of Heungkong Group, which has interests ranging from logistics and finance to health care and property development on the mainland, bought flats 16C and 16D in phase three of Mount Nicholson for a combined HK$1.2 billion last month.

The 4,544 sq ft Flat 16D, which comes with three parking spaces, sold for HK$639.8 million, or HK$140,800 per square foot, making it Asia’s most expensive flat on a per square foot basis. It broke the record held by a flat in CK Asset Holding’s 21 Borrett Road project. That flat, which also comes with three parking spaces, sold for HK$459.4 million, or HK$136,000 per square foot, in February.

The 4,186 sq ft Flat 16C sold for HK$560.92 million, or HK$134,000 per square foot.

Yin Xi

Yin, about whom little is known and whose name is identical to the director of five closely held companies, according to the Companies Registry, bought Flat 1 on the 23rd floor of 21 Borrett Road in February, according to Land Registry documents.

The five-bedroom flat in the project’s phase one sold for HK$459.4 million through tender and held the record before Lau’s purchase of flats 16C and 16D in Mount Nicholson.

The 3,378 sq ft flat in Hong Kong’s Mid-Levels, at HK$136,000 per square foot, broke a record held by flats 12C and 12D at Mount Nicholson. These flats sold for HK$1.17 billion, or about HK$132,100 per square foot, in November 2017.

The buyer is a Hong Kong permanent resident, as documents showed that they only paid a basic stamp duty of 4.25 per cent for the Borrett Road property, or about HK$19.52 million.

Yan Hongyan

Yan reportedly bought Flat 6 on the 23rd floor of 21 Borrett Road for HK$377.37 million in March, and then transferred the title to Qiu Mingjing in June. At 2,995 sq ft, the flat’s price translates to HK$126,000 per square foot.

Qiu is a big investor in Hong Kong property. She was the sixth-largest shareholder of Shanghai-listed Beijing Wantai with 4.8 million shares, or a 1.1 per cent stake, according to the firm’s 2020 annual report


An investor with the surname Shan, whose first name is not known, reportedly bought Flat 3 on the 23rd floor of 21 Borrett Road for HK$344.1 million in April. At 2,731 sq ft, the price translates to HK$126,000 per square foot. Shan is said to have paid an extra 15 per cent in stamp duty, or HK$51.6 million, as it was not their first property.

Ni He Tong

Ni bought flat 8C in phase three of Mount Nicholson for HK$490 million in January, according to media reports citing Land Registry records. At 4,266 sq ft, the price translates to HK$114,906 per square foot. Ni was said to be a first-time buyer, having paid only 4.25 per cent in stamp duty, or HK$20.83 million.

(South China Morning Post)


Why Hong Kong home renters will pay more next year

Home rents have already rebounded, rising by 3 per cent in 2021

Supply is limited, but there is a lot of demand, analyst said

Hong Kong home rents will rise next year by as much as 5 per cent, with small to medium and nano flats near universities and MTR stations gaining the most, analysts said.

Small to medium gain the most, with rents of homes near universities and MTR stations also rising, said analysts from two property agencies.

Rents in the private residential sector have already rebounded in 2021, rising by 5 per cent, after being battered for two years by the city’s social unrest and the pandemic, according to a property agent. “Average rents increased by about 2.3 per cent [this year] up to November,” the agent said. “It’s the first increase after the past two years’ drop.”

The city’s revised rental index dipped for two consecutive months, falling 1 per cent in October and November, after rising for seven straight months as of September, according to the latest data from the Rating and Valuation Department. By comparison, the city’s average monthly rents in 2020 fell 6.9 per cent from the previous year.

Overall, for 2021, home rents went up 3 per cent from January to November. Rents in Taikoo Shing rebounded to HK$34 per square foot this month, from as low as HK$29 per square foot in October, according to one of the agencies, for instance.

The agent attributed the improvement in the market to the pandemic having been brought under control. This had helped the Hong Kong economy pick up pace and, subsequently, the city’s unemployment rate dropped to a record low – 4.1 per cent from September to November – since February 2020, according to the latest data from the Census and Statistics Department.

Against the backdrop, the agent said that they expected an increase of 5 per cent in home rents across the city. “Most important of all is the fact that supply is limited,” the agent said. “There is a lot of demand in the market.”

The Hong Kong government planned to complete the construction of around 18,230 private residential units this year, but as of October only 11,330, or 62 per cent, had been completed, the agent said. This meant that “there is a high possibility of delays in completion this year to next year, which we believe would lower the supply of new rental units” in 2022, the agent added.

With the city set to reopen its border with mainland China soon, more mainland students will come back to the city, which will also help improve the rental market, the agent said. “One of the reasons that rents have increased this year is the return of mainland Chinese students, and we believe this trend will continue next year,” the agent said.

The agent said that they expected small to medium sized flats would be the most sought-after. Rents for such units in Sha Tin and Tin Shui Wai had registered a 5 per cent increase this year, for example. Rents at City One Shatin stood at HK$39 per square foot and at HK$24 per square foot at Kingswood Villa in Tin Shui Wai.

Homes near universities and MTR stations would also see rent rises. The agent said rents in Tseung Kwan O and Sha Tin would perform better thanks to their proximity to universities that attract mainland students. The new Tsuen Wan line and Sha Tin-Central link would support rents in Tsuen Wan West and Kai Tak.

Another property agent held a more cautious view toward the home rents, but also indicated a best-case scenario where rents would rise 5 per cent.

“Next year will not be rosy [for the rental market], because workers won’t get sharp pay rises quickly,” the agent said. The agent also said that they doubted there would be strong demand.

Smaller flats would outperform other types in the rental market, with a 7-8 per cent rent increase in 2022. “The smaller, the better,” the agent said. “Nano flats – those less than 200 sq ft – will see the most rent increases next year.”

The agent added that the New Territories will witness higher increases – slightly above 5 per cent – in rents, thanks to its low rental base, improved infrastructure and more convenient transport options. In contrast, Hong Kong Island will see only a 1-2 per cent increase, largely because of a decline in the number of overseas employees amid the pandemic.

(South China Morning Post)


甲廈租金跌幅收窄 代理行料明年升1成







該行指,外界普遍認為疫情和實行「在家工作」會影響寫字樓的吸納量,但根據該行全球 (Y) our Space「你我空間」報告,約70%的香港企業表示在未來三年考慮增加寫字樓租用面積,可見寫字樓空間對香港企業的重要性並沒有因疫情而發生大改變。







九龍租務增3成 租金料平穩




東九龍新供應多,新甲廈獲大手洽租。消息指,新地 (00016) 旗下觀塘巧明街98號寫字樓項目,明年中落成。其中8萬平方呎樓面獲洽租,呎租約30元。項目總樓面115萬平方呎,其中兩幢寫字樓合共約65萬平方呎,而兩幢樓面每層面積,分別約2.2萬及1.3萬平方呎。






















大手工商鋪交投按年倍升 九龍灣國際展貿中心全幢作價105億最矚目









該代理續指出,近期工廈市場交投暢旺,其購買力主要來自外資基金或基構性投資者 (INSTITUTIONALBUYER),受動亂及疫情等影響,令交投轉趨淡靜,去年成交量為過去10多年來新低,市場累積一定購買力,加上期間環球央行持續量化寬鬆,令市場游走資金相當充裕,今年第三季本港M3數字處歷史高位徘徊,外資基金及機構性投資者亦順勢大舉集資,同時亦積極為資金尋找出路。








「鋪王」鄧成波離世 家族頻大手沽貨













堡獅龍1.84億沽荃灣工廈兩單位 涉4.1萬呎 其士國際承接














英皇6.88億沽筲箕灣地盤 高帳面值逾30% 老牌家族成員購入