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Hong Kong’s June home prices rise to 10-month high as buyers defy coronavirus in search for safe haven assets

June’s index of used homes edged up by 0.1 per cent to 386.1, according to figures by the Rating and Valuation Department

Buoyant home prices have helped to halt the slide of mortgage borrowers into negative equity

Hong Kong’s home price index rose to the highest level in 10 months in June, as investors and speculators defied a third wave of coronavirus infections in the city in their search for safe haven assets amid a gloomy outlook for the global economy.

June’s index of used homes edged up by 0.1 per cent to 386.1, according to figures by the Rating and Valuation Department, chalking the highest level since 388.2 in August 2019. The index dipped by 1.9 per cent compared with June last year.

The coronavirus pandemic, which has sickened more than 3,000 people in Hong Kong and claimed 27 lives, also disrupted the city’s construction activity, cutting the number of new private residential units by 3,000 units to 92,000 for the next three to four years, according to data by the Transport an Housing Bureau. The drop in supply is helping to put a floor on home prices, analysts said.

“It is hit by the pandemic [as] the progress of construction was delayed,” property agent said, adding that the supply of new homes may fall below 90,000 units. “The epidemic has dragged down the sales of new homes, and the supply of new homes in the future will begin to decrease, which is a self-correction in the market.”

The prices of lived-in and newly launched homes are hanging on stubbornly in the world’s most expensive urban centre, even as its economy is mired in its worst recession on record. A flood of cheap liquidity unleashed by central banks has driven investors to search for better returns in fixed assets and precious metals, prodding them to snap up new apartments during weekend launches.

The latest data is not “reflecting the impact from the recent uptick in virus infections,” another agent, which expects home price to drop by about 5 per cent this year. “Correction in the property market is likely to continue.”

Buoyant home prices have arrested the slide of mortgage borrowers into negative equity, where the value of assets fall faster than their borrowings. As many as 127 mortgage borrowers were in negative equity in June, compared with 384 at the end of March, with the aggregate value falling to HK$727 million from HK$1.867 billion during the period, according to data by the Hong Kong Monetary Authority (HKMA). At the bottom of Hong Kong’s real estate market in 2003, a record 105,697 cases of negative equity was recorded.

“The current cases are peanuts compared with 2003,” a mortgage broker said. “The bounce in home prices helped reduce the number of the negative mortgages during the quarter. Looking ahead, the third quarter is full of uncertainties due to the third wave of the pandemic in July.

The number of completed, but unsold properties rose slightly by 1,000 units to 11,000, the highest quarterly level in 13 years, property agent said. The total number of flats that start construction and to be completed this year will also miss their targets as the pandemic drags on progress.

To be sure, the growth in prices has slowed, compared with the 2.2 per cent increase seen in May, as the coronavirus outbreak took hold, another agent said, adding that a decline of between 0.5 and 1 per cent will be seen in July while August will see the fall widened to over 2 per cent.

(South China Morning Post)

 

疫情衝擊 黛安芬求頂租One Kowloon

美資VF擬棄觀塘ITT半層 1.5萬呎

環球疫情下跨國企業生意受衝擊,個別企業為節省開支,把寫字樓放頂租。消息指,內衣品牌黛安芬租用九龍灣One Kowloon全層,現於市場放頂租。另美資採購公司VF把觀塘ITT商廈半層樓面放頂租,涉約1.5萬呎。

消息指,九龍灣One Kowloon高層全層單位,面積約2.3萬平方呎,由黛安芬租用,據悉品牌現把全層於市場放頂租,物業市值呎租約28至30元。翻查資料,該品牌早年租用One Kowloon兩全層單位,現因應市況,把其中一層放頂租。

需求疲弱 業界料租金向下

另消息指,觀塘ITT商廈亦錄放頂租樓層,涉及1.5萬平方呎樓面,市值呎租約30元。該層樓面由採購公司VF租用,品牌於兩年前,分階段租用ITT商廈多層,作整合業務,現僅把部分樓層放頂租。

至於長沙灣區貿易廣場方面,亦有企業部署減樓面,消息稱,一家外資採購公司,租用物業約4萬平方呎樓面,現研究放棄約1.5萬呎,以節省開支。

業內人士指,自中美貿易戰後,不少跨國企業特別採購、貿易公司,生意已受打擊,再加上環球疫情,企業出現盈利倒退,故需從節省成本上入手,令近期商廈市場上放頂租的個案增,但在需求疲弱下,承接力一般,料租金仍向下。

另代理表示,葵涌永立街24至28號全幢工廈於去年落成後,首次進行招租工作,意向月租約120萬元;大廈樓高16層,總樓面面積約103,364平方呎,平均呎租約11.6元。

(經濟日報)

 

九龍甲廈空置升 東九租金料減1成

疫情反覆令經濟難復甦,統計指,6月九龍整體甲廈空置率續升,業界料短期東九龍商廈租金料減1成。

疫情肆虐令全球經濟活動停頓,營商環境困難,對寫字樓需求下跌,帶動空置率上升。有代理的數據指出,6月份九龍區甲廈空置率錄得約11.61%,對比5月續升0.12個百分點,更較年初上升1.72個百分點,反映九龍甲廈整體需求疲弱。數字上升主要受東九龍區市況拖累所致,觀塘及九龍灣甲廈空置率按月分別增加0.2及0.16個百分點;尖東最新甲廈空置則略見改善,按月下跌0.91個百分點至約10.01%。

代理表示,6月份整體九龍甲廈空置率為11.61%,按月輕微上升0.12個百分點,對比今年1月份的9.89%,則增加1.72個百分點。至於東九龍甲廈空置表現則持續惡化,觀塘6月錄得約13.54%,九龍灣約21.1%,分別按月上升0.2及0.16個百分點,較今年1月表現則分別上升2.25個百分點及1.61個百分點;數字反映新冠疫情肆虐至今已逾半年,經濟環境持續向下,九龍區商廈空置率未有改善。

一綫商業區租跌 影響東九

該代理補充,東九龍甲廈空置率上升意味市場對其需求減少,資料顯示,今年1至7月東九龍甲廈共錄得約137宗租賃成交,涉及平均呎租約26.94元;對比2019年同期約224宗,平均呎租約29.39元,分別下跌約39%及8%。至於大樓面租務表現亦見疲弱,資料顯示,今年1月至7月九龍區5,000平方呎以上的寫字樓租務成交僅錄得約72宗,2019年同期則有約179宗,成交宗數勁跌6成,可見企業對承租大樓面單位相當審慎。業主需要進一步調整叫價以增加物業吸引力,或變陣將單位大拆細迎合市場走勢。

後市上,該代理行分析,東九龍商廈供應較大,空置情況較為嚴重,加上隨着如尖東等一綫商業區租金下滑,直接影響東九龍寫字樓價格亦會相應下調,短期減幅至少約一成。

(經濟日報)

 

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美銀續租呎價逼近百元

受疫情打擊,甲廈市場觀望氣氛濃厚,惟市場則出現一宗高價承租,為近期罕見。市場消息指出,中環美國銀行中心低層01至05室,面積3200方呎,獲證券行以每方呎約98元續租,涉資約31.3萬。

據代理指出,上址坐享全海景,為優質單位,是次呎租亦創該甲廈近1年來新高。

(星島日報)

 

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美銀半年跌37%「最傷」核心區甲廈售價急挫

自去年受中美貿易戰及反修例事件夾擊,再加上今年初新冠肺炎爆發,甲廈市場觀望氣氛瀰漫,拖累售價持續下滑。據本報統計資料顯示,核心區內甲廈於過去半年僅錄3幢甲廈成交,涉及7宗買賣,跌幅介乎15%至逾30%,當中以中環美國銀行中心半年間跌幅「最傷」,每呎售價急挫約37%;據業內人士指出,隨經濟環境惡化,令部分業主議幅逐步擴闊,並預測甲廈市場於下半年仍處調整期。

核心區甲廈呎價急下滑。據本報統計資料顯示,核心區甲廈呎價於去年起持續下跌,跌幅介乎15%至37%,當中以中環美國銀行中心跌幅「最傷」,資料顯示,金鐘美國銀行中心2507室,於去年12月以4880萬成交,以面積1137方呎計算,平均呎價約42920元。本月該甲廈最新成交為低層06至9室,面積3110方呎,以買賣公司形式作價8397萬,平均呎價約2.7萬,相距約半年,該甲廈售價急挫約37%。

力寶信德錄低價成交

其餘核心區甲廈造價亦備受壓力,資料顯示,金鐘力寶中心2座高層1室,面積1686方呎,於去年4月以6443萬成交,呎價約38216元;惟該甲廈最新成交於2座高層05至06室,合共面積約3652方呎,為銀主盤,以每呎約2.8萬沽,涉資逾1.02億,上述2宗成交呎價相差約26%。

半年三甲廈涉七宗成交

至於位處上環的信德中心成交呎價持續回軟,該甲廈近期成交量不多,自去年10月起僅錄3宗成交,其中,該甲廈低層12室於於去年10月以2854萬成交,以面積1057方呎計,每呎造價2.7萬;該甲廈最新成交於今年7月,為中層10至11室,面積2582方呎,以6000萬成交,平均呎價23238元,相距約8個月,呎價跌幅約15%。

另外,值得一提的是,受多項不明朗因素影響,令甲廈交投量「冰封」,資料顯示,自去年6月反修例事件爆發以來,核心區內多幢甲廈均錄「零成交」,當中包括中環中心皇后大道中九號、金鐘海富中心遠東金融中心等。

業界:料市況持續調整

代理指出,受去年中美貿易戰及反修例事件拖累,甲廈售價早已飽受壓力,加上新冠肺炎於今年初爆發,更令市況「雪上加霜」。金鐘力寶中心及中環美國銀行中心因業權較散,於「疫市」下部分業主因經濟環境受壓,割價沽貨套現,造就成交呎價持續下跌。

代理表示,甲廈市場於今年首兩季成交季已按年急挫約七成,今年以來成交價已下跌約20%,並料下半年有機會再跌約5%。

(星島日報)

 

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