上月市场憧憬减息，投资者观望，工商铺买卖价量齐跌。有本港代理行资料显示，上月录约238宗成交，宗数较6月份微跌，金额录约29.79亿，按年跌约26%。

该行代理表示，据统计，7月份工商铺买卖按月微跌约1.6%，对比2023年同期微跌约4.8%。在缺乏大手买卖下，全月共录约27.52亿，按月减约7.6%，按年跌约26%，去年同期啟德沐泰街7号THE HENLEY地下连一楼以约5.28亿易手，令两者基数相差大。

按年微跌约4.8%

该代理续表示，工商铺个别发展，工厦及商铺分别录约155宗及约51宗，按月微跌约4宗及约2宗，工厦金额录约14.5亿，按月及按年分别跌约26%及40%，工厦成交以500万以下细价物业，加上不少发展商低价促销工商新盘，故整体金额下降。

荃威商场2.18亿瞩目

商铺金额按月上升约12%， 较瞩目为荃湾荃景围191至195号荃威花园商场3期6楼全层，以约2.18亿易手，现时由2间护老院承租，回报逾10厘。

该代理分析，美联储局连续8次维持息率不变，美国最新6月份消费者物价指数 (CPI) 连跌3个月至3%，创近12个月新低，就业增长放缓，离通胀回落至2%目标不远，意味减息周期即将开始，为市况带来曙光。

(星岛日报)

本港代理行：商厦註册成交按月微升1.9%

商厦成交量维持平稳，有本港代理行发表的最新商厦市场报告指，7月份录55宗成交，按月微升约1.9%，金额为10.65亿，按月增约2.2%。上月亦录7宗指标甲厦成交以及4宗逾亿成交。不过，7月指标甲厦及乙厦售价却分别按月下跌约1.2%及2.2%。

频录大面积成交

7月份商厦市场录不少全层或全幢物业「大刁」，包括有外资财团以14亿买入滙贤一号．雋朗及雋峰。继观塘俊汇中心成交后，联合出版集团「再下一城」，以约2.21亿购入湾仔资本中心22楼全层连多个车位。中环区录一宗全幢商厦成交，怡安集团以约1.8亿购入中环E168全幢物业。

租务市场方面，瞩目成交包括有财富投资公司诺亚控股以月租约180万租用铜锣湾时代广场一层半楼面，而啟德AIRSIDE再录租户进驻，多元化健康生活体验馆以月租约140万租用该厦两层楼面。

AIRSIDE两层140万租出

该行代理表示，近期甲厦物业价格持续调整，相信部分买家将会以「捞底」的心态入市，预期未来商厦市场将出现不少全层或全幢商厦买卖的大面积成交。目前商厦的成交量与高峰期仍有一段距离，但随着美国经济放慢，通胀受控，相信联储局将在短期内减息。

一旦港息跟随美息回落，投资者的资金成本将会降低，有助吸引投资者入市，未来商厦市场上投资者的角色有望增加。

(星岛日报)

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Commercial deals get a beating

The value of commercial property transactions in Hong Kong plunged nearly 32 percent to HK$2.75 billion in July from the previous month, as investors remained on the sidelines ahead of expected interest rate cuts.

And the number of deals edged down by 1.7 percent month-on-month to 238 cases, data from a property agency also showed.

Transaction turnover and volume also decreased by 26.2 percent and 4.8 percent respectively from a year ago.

The value of shop transactions posted a 24 percent fall month-on-month to HK$926 million in July, with the number of deals at 51, two lower than the previous month.

Industrial buildings recorded 155 deals worth a total of HK$1.04 billion, down by 26.6 percent month-on-month and 40 percent year-on-year.

The agency said the sluggish figures in industrial properties were due to a lack of deals above HK$5 million and discounts offered by developers.

(The Standard)

Secondary sales up as new launches take a breather

Hong Kong's secondary market extended a modest rally over the weekend as several new projects took a break from sales.

The number of transactions in the city's 10 major housing estates hit a 20-week high last weekend, according to a property agency.

There were 12 deals over the weekend, up by 9 percent compared to the previous weekend.

It was also the second week of double-digit transactions.

An agent said though the total value of these sales is still at a low level, the market is gaining confidence and prospective buyers are waiting for interest rate cuts, which are expected next month.

Still, some owners sold their homes at a loss.

The owner of a two-bedroom flat at Laguna Verde in Hung Hom knocked HK820,000 off their asking price and took a HK$1.02 million hit on the sale.

In the primary market, CSI Properties' (0497) Topside Residences in Jordan sold six of the 32 flats on offer on Saturday for a total of HK$55.4 million. The project has so far sold a total of 158 flats as of Saturday, fetching CSI Properties a total of HK$1.2 billion.

Though the launch of new homes in the primary market is slowing down, Wheelock Properties will launch a new round of sales this week, after unveiling the fourth price list for 70 flats at Park Seasons in Tseung Kwan O on Friday.

The prices after discounts range from HK$4.53 million to HK$8.45 million and the average selling price is HK$14,819 per square foot after discounts, 2 percent lower than the third list's price average of HK$15,122 per sq ft.

The flats in this list are located in Tower 2B.

Wheelock Properties managing director Ricky Wong Kwong-yiu said the new batch includes 20 one-bedroom flats, 25 two-bedroom units with open kitchens and 25 two-bedroom units with studies.

As of last Friday, around 80 percent of the flats in Wheelock Properties' two projects -- Park Seasons and Seasons Place -- had been sold for a total of HK$4.94 billion.

Elsewhere, Sun Hung Kai Properties (0016) sold 22 flats at Novo Land 's phase 3B in Tuen Mun on Friday, after it put 154 flats on sale.

The flats range from studios to three-bedroom homes and buyers can enjoy a 15 percent discount by paying in cash. Prices for the flats range from HK$3.07 million to HK$8.61 million after discounts, and the price per sq ft after discounts starts from HK$11,399.

(The Standard)

Hong Kong homebuyers spoiled for choice as 10,000 more flats to hit market this year

New flats made available this year will total nearly 20,000, according to a property agency, as developers pin hopes on rate cut to spur sales

Hong Kong developers show no sign of slowing down project launches in coming months even as high interest rates continue to dampen demand for new homes and hold prices down, according to analysts.

Nearly 10,000 flats in 24 new properties are tipped to launch before year-end, matching the 9,911 units put on offer in 27 projects in the first seven months, according to a property agency. Developers were able to sell about 4,800 or a little over 48 per cent of the flats made available to buyers in the January to July period, the agency said.

The long-term supply of new flats in Hong Kong also remains robust, with 1,416 private homes completed in June, a five-month high and nearly 17 times higher than the 80 units completed in May, according to the latest data from the Rating and Valuation Department. In the first half, 7,095 units were completed, a decrease of 6 per cent from a year ago.

In the next three to four years, as many as 109,000 new flats are expected to flood Hong Kong, according to the housing bureau.

“Given the current market inventory exceeding 22,000 new units, developers have adopted a strategy of prioritising sales volume over pricing, to sell the properties actively in the market, in order to maintain a balance between market supply and absorption,” an agent said.

The supply glut is one factor keeping home prices in check. The other is high interest rates, which remain at a 23-year high, as the city’s monetary authorities stay in lockstep with Federal Reserve policy to maintain the local currency’s peg to the US dollar.

Recent launches have been priced lower than comparable flats nearly a decade ago.

In May, the average price of a new class A unit, defined as a flat of less than 431 sq ft, in Yau Ma Tei was HK$20,346 (US$2,611) per square foot, a 10.6 per cent decrease from HK$22,768 in 2015, according to a study by another property agency. Meanwhile, in Kennedy Town, average per-square-foot prices are down 6 per cent to HK$22,022 from HK$23,424 in 2015.

Henderson Land, one of the city’s largest developers, is set to introduce five new residential projects, including Parkwood in Tai Po, No 8 Nam Kok Road in Kowloon City and three joint-venture projects in the Kai Tak area. These projects will offer more than 4,000 units of various sizes, according to a spokeswoman.

So far, the developer has sold about 1,500 units this year, generating almost HK$11 billion in revenue.

“Henderson Land always upholds a strategic approach when launching residential projects, taking into consideration a basket of factors including the market needs, interest rates and economic development,” the spokeswoman said.

Meanwhile, Sun Hung Kai Properties, the city’s largest developer in terms of market capitalisation, said it has sold 1,300 units so far this year, with a total value of HK$17 billion. These flats mainly came from projects such as Yoho West in Tin Shui Wai, The Yoho Hub II in Yuen Long, Novo Land in Tuen Mun, Cullinan Harbour at Kai Tak and renovated units at Dynasty Court in Mid-Levels, Central.

The agent said that with the Fed widely expected to cut interest rates in September, potential buyers could finally be convinced to make their purchases.

“Many potential buyers on the sidelines will look forward to a rebound in property prices, which will also stimulate their desire to buy properties,” the agent said. “As a result, property developers are expected to continue launching new developments to cater to market demand.”

Hong Kong’s home sales declined for the third straight month in July, dropping by 3.4 per cent compared with June, following month-on-month declines of 35.14 per cent and 30.47 per cent in May and June, respectively, according to official data.

Home sales rose 67.2 per cent in March and 115.3 per cent in April following the late February removal of decade-old property curbs including a Buyer’s Stamp Duty aimed at non-permanent residents, a New Residential Stamp Duty for second-time purchasers and a special stamp duty for owners flipping their property within two years.

The Hong Kong Monetary Authority followed with its own easing measures, making homes valued at less than HK$30 million eligible for 70 per cent mortgage financing, compared with the previous cap of 60 per cent for flats valued between HK$15 million and HK$30 million.

“Some developers hold a large number of new projects and unfinished units,” another agent said. “To remain liquid, some developers do not mind adopting a low-price sales strategy, hoping to achieve the effect of small profits but quick turnover.”

For developers with large inventories, the agent said they might opt to wait for the US interest rate review in September before making decisions about launches.

“If interest rates are indeed lowered, I believe the sales will be faster,” the agent said. “As for small single-building projects, they are less affected by interest rates, and developers are expected to wait for opportunities to launch sales at any time.”