Despite a 42 per cent slide over the past six years, prime office rents in Hong Kong remained the most expensive in the region
Tenants in
Asia-Pacific’s commercial property market are likely to seek flexible
office spaces and sign short-term leases, avoiding long-term commitments
while waiting for the full impact of the US-China trade war to play
out, according to a property agency.
The situation has
forced office landlords to focus on retaining their existing customers
at the expense of softer rents, the consultancy said. Rents on prime
office space, which fell at a faster pace last quarter, may come under
further pressure as the firm forecast region-wide supply to increase by
5.7 per cent this year to about 200 million square metres (2.15 billion
sq ft).
US President
Donald Trump imposed cumulative tariffs of 145 per cent on Chinese goods
this month, starting off a trade war with its long-standing trade
partners. China, which raised its tariffs on US goods to 125 per cent,
now faces up to a 245 per cent levy on its exports to the US. Both sides
are waiting on each other to negotiate, causing a stalemate.
“As Trump’s
tariffs continue to evolve, the full economic impact of the new measures
will take time to unfold,” an agent said in a report last week.
“Forward-looking expectations will inevitably turn more cautious as a
new modus operandi for the global economy emerges.”
As companies in
the region reassess the tariffs and their impact on headcounts,
Armstrong expects decision makers to delay significant real estate
commitments.
“This trend is
driving a stronger focus on lease renewals, particularly for those who
have moved into higher-quality buildings in the past few years and
prompting occupiers to explore flexible spaces and shorter lease terms,”
the agent added.
Prime rents in the
Asia-Pacific fell 0.9 per cent in the first quarter from the preceding
quarter, after a 0.4 per cent drop in the final three months of 2024,
the agency said in the report. Brisbane was the brightest spot,
registering a 0.5 per cent gain.
Vacancy rates
across the region remained largely stable, despite the addition of 1.3
million square metres of new supply last quarter. Tightening supply in
India and Southeast Asia helped mitigate excesses in mainland Chinese
cities, the report said. Phnom Penh had the highest vacancy rate at 26.4
per cent, followed by Shenzhen at 25.7 per cent.
Office landlords
have been focusing on keeping occupancy levels up and retaining
tenancies in the face of global economic uncertainty, according to
another agent. As a trade-off, rents have weakened, the agent added.
“Against this
volatile backdrop, landlords will be compelled to remain accommodative
on rents to secure tenancies,” the agent said.
Despite the
market’s sluggishness and a 42 per cent slump over the past six years,
Hong Kong still ranked as the most expensive office market in the region
last quarter. Average annual rent in the financial hub stood at
US$127.30 per square foot, compared with US$120.90 in Singapore and
US$90.90 in Sydney, the agency said.
Office rents in
Hong Kong may slip further by 7 to 9 per cent this year, according to a
forecast by another property consultancy.
While the ongoing
trade war complicates long-term decision-making, the agency said India
and emerging Southeast Asia would remain resilient given that the local
markets are anchored by businesses with domestic focus. There were
notable gains in Jakarta, Kuala Lumpur and Bangkok, signalling improving
regional conditions, it added.
After sustained
rental declines since mid-2023, Jakarta’s office market was poised for a
significant turnaround this year, the agency said. The city recorded a
4.2 per cent gain in rents from the fourth quarter of 2024, the best
among 23 cities tracked by the firm.
In India, tenants
took up 1.7 million square metres of space last quarter, or a 94 per
cent increase from a year earlier. Global capability centres, mostly in
Bengaluru, drove 65 per cent of the leases.
(South China Morning Post)
Sun Hung Kai Properties (0016) unveiled the third price list yesterday for its massive Sai Sha project, Sierra Sea, with discounted prices averaging HK$11,498 per square foot, 5.6 percent costlier than the second one.
The third batch
includes 118 units ranging from 301 to 700 sq ft, including 15
one-bedroom, 67 two-bedroom, and 36 three-bedroom flats.
Discounted prices range from HK$3.15 million to HK$8.38 million, or HK$10,237 to HK$12,702 per sq ft.
Andy Chan Hon-lun,
general manager at SHKP's real estate agency, said the batch mainly
comprises mid- to high-floor units, including some with sea views. Chan
added that the pricing is in line with previous releases, and the
developer may roll out more units depending on market response.
The developer is expected to close registrations on Thursday and launch the first round of sales on Saturday.
Meanwhile, more
than 80 transactions were recorded in the primary market over the Easter
holidays. Among them, Asia Standard International's (0129) High Park in
Yuen Long saw 18 deals over the four-day period, bringing the total
number of units sold at the project to 1,001, with only 24 flats
remaining on the market.
In the secondary
market, the 10 major housing estates tracked by a local property agency
recorded eight deals over the weekend, up from six a week earlier.
Around 14 were logged over the holiday, slightly down from 15 in the
same period last year.
(The Standard)
供應持續 甲廈空置率再上升
近期甲廈租務平穩，惟空置率上升，主因大量新供應出現，令甲廈空置率處高位。
有外資代理行發表的香港地產市場報告中指出，整體租賃市場於2月錄得淨吸納量後，3月錄得負吸納量63,100平方呎，主要原因是先前企業辦公樓整合和搬遷活動後，令大量樓面重回市場。
東九龍新甲廈落成
上月主要商業區空置率仍相對穩定。中環和港島東的空置率保持平穩，而灣仔/銅鑼灣和尖沙咀的空置率有所改善，分別下降0.1和0.6個百分點。相比之下，東九龍的空置率因新項目—九龍灣的THE CENDAS竣工而上升至21.3%
租務成交上，消息指，葵涌九龍貿易中心錄得全層租務，涉及A座8樓全層，面積約2.5萬平方呎，以平方呎約25元租出，據悉，新租客為東華三院旗下教育部門東華學院。該慈善機構於2010年成立東華專上書院，其後開辦學士及副學士課程，包括醫療、社會科學等，近年再增商業學、護理學高級文憑，該學院目前佔用九龍貿易中心B座16樓作校葵興校舍，現再租用全層擴充。
外資搬遷 租太古坊二座
另外，東九龍甲廈錄升級租務個案，消息指，觀塘創紀之城1期37樓全層，面積約2萬平方呎，以每平方呎約20元租出。新租客為一家時裝公司，原租用觀塘工廈，現轉作同區甲廈作升級。
至於質素較新的甲廈亦獲企業承租，消息指，太古坊二座全層樓面獲承租，涉及面積約2萬平方呎，即月租約100萬元。據了解，新租客為韋萊韜悅 (Willis Towers Watson)，該企業屬跨國風險管理、保險經紀和諮詢公司，總部設於英國倫敦。
據悉，該企業原租用銅鑼灣利園三期一層半樓面，涉及約2.5萬平方呎。如今搬往太古坊二座，可節省租金開支。此外，該廈於2022年落成，質素亦相對較新，故同時可作升級。
對於整體市況，該行代理表示，整體甲級寫字樓的空置率升至13.7%，主要原因是存量調整，而商廈租賃交投仍然活躍。
該行另一代理表示，3月整體甲級寫字樓租金持續下跌，按月輕微下降0.6%。中環和灣仔/銅鑼灣的租金分別輕微下跌0.2%和0.4%。同時，港島東錄得最顯著跌幅，租金回落1.2%。九龍東租金亦下降了0.2%。
(經濟日報)
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銅鑼灣力寶禮頓大廈位處利園商圈，而極罕有可買賣，對面更將有大型全新商業項目落成，商業前景更佳。
力寶禮頓大廈位於銅鑼灣禮頓道利園寫字樓群中，交通上，由銅鑼灣港鐵站步行至該廈，需時10分鐘，另大廈附近設有巴士、小巴及電車站。
飲食配套方面，利園商圈內有多個商場，對面利園五期基座多層有餐廳、咖啡室，開平道CUBUS亦屬特色餐廳聚集的大廈，上班人士亦可前往希慎廣場及時代廣場用膳。
位處利園商圈 飲食配套齊
物業附近為利園一期、利園二期及利園三期，均為希慎商業王國版圖，長綫持有作收租，而力寶禮頓大廈，是商圈內近乎唯一可作買賣的商廈。
值得一提，是物業對面正為，希慎及華懋合組財團，在2021年5月以197.8億元奪得的銅鑼灣加路連山道商業地，早前正式命名為「利園八期」，項目總面積逾100萬平方呎，預計於2026年第二季落成，當中設有6萬平方呎綠化開放空間的城市公園，故不論商業氣氛及附近整體觀感，未來可進一步提升。
大廈於1992年落成，樓齡逾30年，保養理想，外形上設玻璃幕牆，質素仍新。
物業大堂面積不算大，仍屬光猛及舒適。物業由地下至23樓，每層面積約3,880平方呎。間隔上，可分間為3至4個單位，面積由700餘平方呎起。
景觀方面，由於對面正在興趣大型商業項目，日後會受遮擋，至於另一面望向禮頓山，甚為開揚。
用戶上，現時大廈有醫療機構、船務公司外，亦有金融機構租用。
該廈買賣向來不多，對上成交為2023年，大廈錄兩宗買賣，其中物業低層D室，面積約756平方呎，以1,150萬元成交，呎價約1.5萬元。由於近1年多整體商廈價顯著回落，該廈價格料亦同步向下。
極高層全層放售 意向呎價1.18萬
銅鑼灣力寶禮頓大廈放盤少，現物業極高層全層，以每呎1.18萬元放售。
有本港代理表示，有業主放售銅鑼灣力寶禮頓大廈極高層全層單位，面積約3,880平方呎，意向呎價約11,800元。該物業現交吉，並有基本裝修，買家可即買即用或放租。
呎價較高峰期 回調近50%
該代理表示回顧過往成交資料，該大廈10樓曾於市場高峰期時，錄得每平方呎約22,165元的歷史最高成交價紀錄。相比之下，現放盤叫價較歷史高位回調近50%。租務成交上，今年大廈錄得兩宗租務，4月份中層A01室，面積約1,132平方呎，成交呎租約25元。另3月中層A02室，面積約832平方呎，以每呎約24元租出。
同區租務上，位於怡和街麥當勞大廈低層A室，面積約1,026平方呎，近日以每呎約29元租出。
(經濟日報)
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