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美資轉租中環超甲廈 呎租130元


預租 The Henderson 兩萬呎 趁中區租跌擴充升級

第5波疫情4月放緩後,中環寫字樓租務稍改善,超甲廈重獲注視。消息指,恒地 (00012) 旗下中環全新商廈 The Henderson 錄得第二宗租務,物業一層半逾2萬呎樓面獲美資金融機構租用,呎租料約130元。近期外資公司相繼趁超甲廈租金回調,進行搬遷及升級。

中環全新甲廈罕有,而明年落成的 The Henderson 新近錄得預租,消息稱,該廈一層半樓面,涉及逾2萬平方呎,獲一家美資機構租用,公司主要業務包括基金投資、資產管理等。該機構目前辦公室位於金鐘太古廣場二座,樓面約2萬平方呎,是次搬遷可作少許擴充,而最重要是可升級至中環全新超甲廈。市場人士估計,是次成交呎租約130元,屬目前超甲廈市價水平。

恒地於2017年以233億元投得中環美利道地皮,每平方呎樓面地價高達5萬元,盡破本港紀錄,而物業提供約46.5萬平方呎樓面,總投資額高達260億元,預計2023年落成。據了解,該項目設計上頗具特色,除外形獨特外,發展商把頂層逾萬呎,打造成大型宴會廳。

佳士得租4 設拍賣中心

受疫情影響,本港超甲廈租務不算活躍,去年7月 The Henderson 首宗租務,由藝術及奢侈品拍賣行佳士得承租物業4層合共約5萬平方呎樓面,將為該拍賣行首個香港的常設拍賣中心和藝廊。相隔接近1年,大廈才錄得第二宗租務。

事實上,最近中環甲廈錄得新租務成交上升,不少屬同區搬遷。包括國際金融中心二期 2.75萬平方呎樓面,獲美資投資銀行富瑞金融集團 (Jefferies) 租用,該公原租用同區長江集團中心,趁租金下跌轉租國際金融中心二期。據悉,有關樓面原由野村證券租用,集團早前棄租。另外,上月另一家美資機構景順投資 (Invesco),租用怡和大廈約3.1萬平方呎樓面,機構原租用同區花園道3號,亦屬辦公室升級。

長達兩年疫情,令甲廈租金出現大幅調整。據一間外資代理行統計,甲廈租金高峰期為2019年初,當時中環平均呎租高見140元,其後因社會運動及環球疫情等衝擊,租金從高位回落,至最新呎租約100元,下跌近3成。

代理行:倘通關 中環先反彈

該行代理指出,受疫情等因素影響,甲廈租金調整期已達2至3年,對個別機構來說,中環最頂級商廈租金已跌至相對合理水平,故可以趁機搬遷作提升級數。整體租務市場前景上,該代理認為,在未通關情況下,甲廈新租務維持偏低,相信要待通關,商務活動重現,甲廈才有租務新動力。該代理指,若中港通關,中資機構重啟租務,預計以中環市場率先反彈。租金方面,他謂上半年甲廈租金跌約2至3%,跌幅逐漸收窄,下半年料較為平穩。

(經濟日報)

更多The Henderson寫字樓出租樓盤資訊請參閱:The Henderson 寫字樓出租

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中區變「抵租」 機構「去中環化」意慾降

疫情令商廈租金整體回調,過往中環租金處歷史高位,出現機構「去中環化」,把總部遷出中環以省成本,但隨着租金差距收窄,機構遷出意慾較以往低。

一直以來,中環為全港甚至全球最貴甲廈租金地區之一,高峰期超甲廈如國金2期,呎租水平逾200元,即使次一級甲廈,呎租普遍百餘元。正因租金水平高,機構希望節省開支,過往數年不少機構「去中環化」,約滿後放棄中環總部,搬至銅鑼灣、港島東,甚至九龍區。

中環港島東呎租差距 降至55

以港島東為例,由於近年屢出現新甲廈,加上地區配套理想,成為中環機構搬遷熱門之選,過往數年間,屢見太古坊商廈,吸納來自中環的金融機構、律師樓等。

近兩年甲廈因市況轉弱,租金明顯回調,中環與其他地區租金差距不斷收窄,以港島東為例,2019年5月,即中環甲廈租金最高峰時,中環及港島東的呎租差距為85元,隨着中環租金下跌約3成,最新兩區呎租差距降至55元。

搬遷涉及租金外,亦有其他成本包括裝修費等,以往搬遷最活躍時,正因可節省租金較多,長遠計數仍有好處。不過,當中環與其他地區租金差距收窄,機構可節省租金開支減少,同時中環業主亦願降價吸引客人續租,令租客最終選擇留低。

對一些非金融業、專業服務業機構來說,寫字樓並非一定要在中區,相信若要降低成本,仍會有計劃遷出中環。但對投資銀行、基金等公司來說,中環始終是金融集中地象徵,顯示機構地位,當中環租金已調整,遷出意慾難免降低。

(經濟日報)

 

甲廈下半年租金穩 呎價看升5%

疫情令甲廈買賣及租務均淡靜,有代理行認為,甲廈租金已漸見底,惟空置率仍偏高,下半年租金較為平穩;呎價則有望升5%。

該代理行統計指,上半年暫時錄得約337宗寫字樓買賣成交,較去年上、下半年分別減少約46%及33%。成交金額方面,上半年暫時錄得約72.01億元成交金額,比2021年同期遞減約69%,對比去年下半年亦下跌約51%,數字為自2020年上半年後新低。

5月份港島區整體甲廈空置率維持於9%水平,錄得約9.76%。至於九龍區指標商廈空置情況更為嚴重,最新整體空置率為12.38%。租賃方面,2022年上半年暫時有約2,381宗寫字樓租賃成交,成交金額約2.17億元,與去年下半年相比,分別減少約30%及44%。

代理行料下半年成交 升至400

該行代理指,上半年市況差主因疫情嚴峻,如今市民已漸適應,相信下半年投資市場亦向好,下半年商廈成交宗數回升至約400宗水平,呎價則料會平穩走向至上升約5%,租務方面,該代理料成交達約3,000宗水平,租金已漸見底,惟在高空置率的壓力下,料租金走勢會維持平穩。

至於整體市況,香港似乎加息在即,該代理認為,投資者較為關注物業升值能力,加上工商舖按揭成數偏低,故此加息對工商舖市場衝擊料不高,整體工商舖走勢平穩,當中以民生區舖位租金最看好,可望升約1成。

(經濟日報)

 

九龍新式甲廈優質 將成租務焦點

九龍區甲廈供應多,業界人士認為,由於九龍區新式甲廈質素佳,租金較便宜,未來將成甲廈租務焦點,當中長沙灣區日漸成熟,料可吸引用家及投資者。

據一間外資代理行統計,2022至2026年甲廈新供應涉及約1,460萬平方呎,當中比例最高為西九龍區,涉及29%,而西九龍區包括九龍站、長沙灣、葵荃區等,未來有多個大型商廈項目。

該行代理指,香港在未來20年的城市發展重點將由東面逐漸轉移到西面。西九龍區的新興寫字樓租金比傳統商業核心區更相宜,加上新供應亦能提供高質素的甲廈樓面,相信將會成為租戶理想落戶的另一選擇。

西九新供應 佔比最高

該代理分析,過去10年,雖然西九龍寫字樓分布比起香港東面的非核心地區更分散,但隨着更多新寫字樓在未來幾年落成,預料西九龍區將會成為增長最快的甲廈市場之一。特別值得留意即將在九龍站以及長沙灣一帶落成的寫字樓。在未來5年,九龍站將會成為繼東九龍後第二個最多新甲廈供應的地區,提供約240萬平方呎,相當於從現在到2026年香港整體新甲級寫字樓供應量的17%。

該行另一代理預計,西九龍區將會吸引更多來自銀行、金融、財富管理和保險領域的租戶,帶動未來十年香港寫字樓市場的走勢。

長沙灣轉型 料租戶青睞

長沙灣為傳統工業區,附近一帶在過去十年有明顯變化,近期亦有總樓面達260萬平方呎的建築通過活化計劃審批,可進行改建或重建。除了活化項目外,更多甲廈亦將相繼在長沙灣落成,預計至2023年該區甲級寫字樓總樓面將達190萬平方呎。近日該區大型商廈項目荔枝角道888號多層樓面已售出,包括南洋商業銀行購入其中3層,並獲大廈命名權,現易名為「南商金融創新中心」。

另一代理認為,廣深港高速鐵路成為了九龍區寫字樓市場的焦點,加上該區租金具競爭力,因此九龍區寫字樓市場受很多新落戶香港的內地企業追捧。他相信,在大灣區發展下,配合今年沙中綫通車,交通基礎設施得以完善,將促進九龍新興寫字樓商圈發展,推動更多九龍區寫字樓租賃需求。

有代理認為,啟德、長沙灣及九龍站,前景均不錯,該代理表示,長沙灣即將迎來三幢新寫字樓供應,相信轉變將令九龍西成為最受租戶青睞的寫字樓地點,特別是那些希望抓住大灣區機遇,且享受便利位置前往貨櫃碼頭和機場的企業。

(經濟日報)

更多南商金融創新中心寫字樓出租樓盤資訊請參閱:南商金融創新中心寫字樓出租

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更多長沙灣區甲級寫字樓出租樓盤資訊請參閱:長沙灣區甲級寫字樓出租

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第一集團補地價 重建九龍灣前總部

標準金額補地價下,吸引財團重建商廈。第一集團落實完成7.24億元補地價,將重建旗下集團位於九龍灣總部,發展寫字樓項目。

第一集團旗下九龍灣宏泰道14號,前身為第一集團總部。據悉,集團完成項目補地價,金額涉及7.24億元,地盤面積約1.82萬平方呎,總樓面面積約21.9萬平方呎,每平方呎補地價約3,307元。據悉,項目是次透過「標準金額」計劃進行補地價。翻查資料,該集團於2009年活化工廈措施推出時,曾把該廈於市場放售。

全新寫字樓預計2024年落成

集團表示,項目預計2024年落成,寫字樓樓高21層,全幢寫字樓高約120米,中高層單位可享維多利亞海景及啟德發展區遼闊景觀。地下及2樓均設有商舖,3樓至25樓為寫字樓樓層,共112個單位,單位面積由1,497至全層14,451平方呎,標準樓層每層設6個單位,並設全層及特色單位。

(經濟日報)

 

尖沙咀星光行 間隔靈活合各業

尖沙咀星光行佔盡地利優勢,交通便利並連接地標商場,部分單位更可享無遮擋海景,故適合多個行業使用。

星光行位於梳士巴利道3號,於1969年落成,屬於尖沙咀最早期商廈之一。交通上,由尖沙咀港鐵站步行至該廈,需時約10分鐘,物業鄰近天星碼頭,故可坐船前往中環及灣仔,而物業前方為尖沙咀巴士總站,交通工具選擇非常多。

餐飲方面,大廈基座設有數層零售樓面,提供數間中式食肆,而大廈另一優勢,為連接最大型商場海港城,亦可步行至新港中心力寶太陽廣場等,選擇多不勝數。此外,大廈附近亦有多幢酒店,包括地標之一的半島酒店,提供商務餐飲。其他配套方面,坐落廣東道為購物熱點,而誠品書店亦於2015年進駐星光行,為該廈帶來人流。

物業落成雖逾50年,惟近年積極翻新,質素不算差。電梯大堂設於地下,提供6部客用升降機,有效疏導人流。升降機最高只能通往18樓,19樓的用戶需要於18樓經樓梯通往。

位置優越 大部分單位向海

物業享有大單邊優勢,大部分單位面向海景,其他單位則以廣東道及樓景為主。項目樓高19層,其中5樓至19樓為寫字樓樓層,每層約可分間成逾30個單位,單位間隔靈活,面積最細約200平方呎,室內柱位傾向靠牆,間隔十分實用,若把單位打通,部分面積可達4,000平方呎,迎合大型企業需要。

該廈位置優越,故吸引不同行業進駐,目前用戶包括傳統貿易、玩具、鐘錶、會計及律師行等,另近年有具樓上舖概念的行業,如教育、旅遊亦有使用。

成交方面,該廈單位呎價差幅頗大,海景單位呎價高見1.4萬至1.5萬元,而城市景單位呎價低至約1萬餘元。近年項目最大買賣,為日本玩具生產商TOMY,去年把12樓07至12室及14至16至及16A室出售,面積約9,621平方呎,屬全海景單位,物業以1.41億元沽出。近期買賣上,5至6月物業錄3宗買賣,上月中層20室,面積約878平方呎,以約1,229萬元成交,呎價約1.4萬元。本月物業亦錄成交,涉及中層09室,面積約878平方呎,以約1,380萬元成交,呎價約1.57萬元。

租務方面,本月亦錄兩宗租務,其中低層04室,面積約865平方呎,成交呎租約35元;另一宗為低層33室,成交呎租約30元。

(經濟日報)

更多星光行寫字樓出租樓盤資訊請參閱:星光行寫字樓出租

更多新港中心寫字樓出租樓盤資訊請參閱:新港中心寫字樓出租

更多力寶太陽廣場寫字樓出租樓盤資訊請參閱:力寶太陽廣場寫字樓出租

更多尖沙咀區甲級寫字樓出租樓盤資訊請參閱:尖沙咀區甲級寫字樓出租

更多星光行寫字樓出售樓盤資訊請參閱:星光行寫字樓出售

更多新港中心寫字樓出售樓盤資訊請參閱:新港中心寫字樓出售

更多力寶太陽廣場寫字樓出售樓盤資訊請參閱:力寶太陽廣場寫字樓出售

更多尖沙咀區甲級寫字樓出售樓盤資訊請參閱:尖沙咀區甲級寫字樓出售

 

星光行中層意向呎價1.63萬起

市區商廈有價有市,部分業主亦趁勢放售。尖沙嘴星光行中層單位以意向呎價約1.63萬起放售,料買家享回報約2.5厘。

代理表示,尖沙嘴梳士巴利道3號星光行中層多個單位,建築面積介乎約878方呎至6500方呎,意向售價由1460萬起,呎價由1.63萬起。

該代理指,上述多個單位均間隔方正,實用率約七成,坐擁全海景觀,開揚光猛,單位可安裝分體冷氣,用戶工作時間極具彈性,不受拘束,部分單位已經交吉,部分單位則屬連租約放售。星行光為知名商廈,區內生活配套齊全,附近各式食肆及娛樂消閒店鋪應有盡有,而且鄰近大型購物商場海港城及1881等,國際名牌店鋪及六星級酒店林立,日夜人流穿梭不息。

料回報約2.5

此外,另一代理表示,上環干諾道中200號信德中心招商局大廈高層單位,建築面積約4072方呎,業主意向售價約1.18億,呎價約2.9萬。

該代理表示,單位現時交吉放售,間隔方正實用,設有兩面窗戶、採光度高,可外望部分中環維港海景及山景,景觀非常開揚。信德中心招商局大廈設有雲石大堂,設計簡約時尚,並附設多部載客升降機,基座為信德中心的六層高商場,設有不少食肆及商店。

(星島日報)

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夏利里拉家族放售渣甸山屋地

豪宅地渴市,渣甸山包華士道8號獨立屋地,現委託代理行推出放售,市場估計物業估值約7.2億,每方呎約110889元。據了解,該屋地由印度富商夏利里拉家族持有。

市估值約7.2

該物業現為兩層高獨立大宅,地盤面積約9814方呎,面積約6493方呎,花園面積約6000方呎。大宅地下為接待室、客廳飯廳、花園及泳池等;1樓則設有五間套房 (連主人套房)、家庭活動室及宗教室。該物業坐落渣甸山包華士道,位處傳統獨立屋的豪宅地段,鄰近白建時道商場。由物業往跑馬地及銅鑼灣僅需約5分鐘車程;約15分鐘車程便可直達中環商業區,交通便利。物業現址劃為「住宅 (丙類)1」用地,物業將會以「交吉」狀況出售。

有代理表示,渣甸山獨立屋群多年來皆被本港及內地富豪追捧,區內業主可謂粒粒皆星,擁有一間獨立屋地實為身分象徵。包華士道位處渣甸山高點並為平路,故此為渣甸山極優質道路,物業為罕有單邊地段,寬闊門面達124方呎,並面向包華士道,極具翻新及重建發展潛質。整條包華士道只有八間獨立屋,而8號現時唯一出售屋地,相信可吸引市場垂青。

據了解,上述屋地由印度富商夏利里拉家族持有近半個世紀,一直作自用,至近年才遷出。屋地去年中曾放售,當時市場估價約10億。

(星島日報)

 

曾流標東涌住宅項目捲土重來 下周截收意向 補地價料調低

本港房屋供應短缺,港鐵亦配合政府加快推地增供應。去年底曾流標的東涌牽引配電站物業發展項目「捲土重來」,港鐵今日起重新邀請有興趣的發展商或財團遞交發展意向書。業內人士指出,上述項目補地價金額將重新釐訂,相信較早前的每方呎補地價約5072元為低,以增加項目吸引力。

港鐵昨日公布,今日起邀請有興趣的發展商或財團提交發展意向書,並於下周二 (28日) 截收發展意向書。港鐵又表示,在收到發展意向書後,將編訂經甄選之投標者入圍名單,以邀請發展商或財團遞交正式標書。

去年僅接獲5份標書

該項目去年9月截收35份意向書、10月推出招標,當時僅接獲5份標書,港鐵於同年11月宣布不接納任何標書,結果以流標收場。據了解,當時項目補地價金額逾47.65億,即平均每方呎補價約5072元,據指除補地價外,發展商須就分紅比例向港鐵提出建議,分紅比例不得少於15%,並須以價高者得的「一口價」決定勝負,最少為2.5億。

據業內人士指,現時重推其補地價金額亦會有所調整,以增加項目吸引力,綜合市場估值約37.58億至51.68億,每方呎估值約4000至5500元。

去年補地價逾47

有測量師表示,由於上次招標時其補地價金額過高,相信今次重推時政府會調低補地價金額,亦不排除港鐵調低分紅比例或入場價,以增加項目吸引力。由於目前市況前景未明,亦處於加息期,而且配電站的規模大,競爭的發展商不多,將來同區又快有項目推出,料發展商出價會更保守。

料調整招標條款

另一測量師說,若該項目補地價金額不變,將有一定挑戰,不排除有流標風險,相信是次補地價金額將會有所調低,亦不排除港鐵會重新檢視招標條款,如減免部分付款及重新釐訂分紅比例,增加項目吸引力,以吸引各大財團競投。

另有測量師指,東涌配電站發展項目規模較大,估計今次推出市況應該差不多,一般發展商都會遞交發展意向,再考慮最終是否入標。

上述牽引配電站物業發展項目坐落東涌市地段第50號地段,位於文東路及毗鄰東涌北公園,鄰近區內指標屋苑映灣園;項目將建於東涌牽引配電站及其鐵路設施上方,地盤面積約15.5萬方呎,住宅可建總樓面約93.96萬方呎,可提供1400至1800個住宅單位,為該區近年最具規模新供應。

(星島日報)

 

Kowloon may attract more Chinese firms as office-rental cost gap narrows between Greater Bay Area cities and Hong Kong

The average office rent fell nearly 10 per cent in May in Kowloon, leaving rents in parts of the district close to what they are in Shenzhen and Guangzhou

Fewer Chinese enterprises are based in Kowloon than on Hong Kong Island, but the gap has closed significantly compared with five years ago

Falling office rents in Kowloon have reduced the price premium between the area of Hong Kong and mainland cities in the Greater Bay Area, attracting more Chinese firms to set up shop in Kowloon, according to property consultancy.

The most recent and worst wave of the Covid-19 pandemic in Hong Kong dragged down office rental prices, and the average office rent in Kowloon fell 9.3 per cent to HK$26.90 (US$3.43) per square foot in May.

Rental prices in the Greater Bay Area on average are 20 to 25 yuan [HK$23.52 to HK$29.38] per square foot per month, while in Kowloon they are between HK$25 and HK$30 per square foot, according to a property agent.

Kowloon is experiencing a supply surplus cycle right now, another agent said, who added that only outlying parts of Kowloon are seeing office rents close to what they are in Guangzhou and Shenzhen, while the central part is still far more expensive.

“The Kowloon grade-A office market demonstrated much stronger momentum since the easing of the fifth wave of the epidemic,” the agent said. “New set-ups of Chinese mainland enterprises, relocations from Hong Kong Island, and office upgrades are the major sources of new demand in Kowloon that fuelled the momentum. We have also witnessed growing demand for medical real estate in Hong Kong.”

Chinese companies with the mission of connecting with the world prefer to locate themselves in Hong Kong rather than in the Greater Bay Area.

For example, China telecom giant Huawei Technologies has offices in central Kowloon, specifically in The Gateway in Tsim Sha Tsui.

In 2020, Ping An Life bought a 30 per cent stake in the office portion of a commercial project on top of the West Kowloon high-speed rail station for HK$11.27 billion from Sun Hung Kai Properties and its controlling shareholder, the Kwok family. Nan Yang Commercial Bank acquired three floors in the commercial building at 888 Lai Chi Kok Road NCB Innovation Centre in Cheung Sha Wan, West Kowloon, in October 2021. PC Partner also took space in the same building.

One of the property consultancies anticipates that Kowloon West will account for 29 per cent of the 14.6 million sq ft of new office supply the company expects to see in 2026. The area accounts for 7 per cent of the total office stock right now.

“Kowloon West and New Territories West account for 36 per cent of the next five years’ new supply,” an agent said. “This will make Kowloon West the fastest-growing submarket in Hong Kong.”

West Kowloon has only six grade-A offices currently, compared with 19 in Central and 15 in east Kowloon.

The number of Chinese enterprises in Kowloon is around 20 per cent less than the number on Hong Kong Island at the moment, but the gap has closed significantly from between 30 per cent and 35 per cent five years ago, the agent said.

“Kowloon West has its own advantages to attract Chinese mainland companies, with its proximity to the border and the airport,” the agent said. “Particularly now the government is also pushing the linking to the Greater Bay Area via the airport area, linking up Macau and Zhuhai, surely demand will also start to pay attention to this area.”

Another agent however, said Kowloon West would not be a popular spot, while the eastern and central parts of Kowloon and Hong Kong Island will remain dominant.

The agent said that Chinese firms still prefer the core Central business district or East Kowloon, which will transform into the city’s second core business district in the long run.

Hong Kong Island office rents have recorded declines three years in a row, according to Knight Frank. The average prime office rent in Central currently stands nearly 32 per cent lower than the peak in 2019, according to a property consultancy. Another property consultancy predicts that rents will rebound 5 to 10 per cent by the end of the year.

“I would say the downward pressure [on Central] is not large if Kowloon’s office demand surges,” an agent said. “Central has been very mature and companies with more international demand will not relocate.”

(South China Morning Post)

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Hong Kong developers lower prices to generate sales amid interest rate hikes, high supply

Developers will first test the water with low starting prices, seeking higher sales volume before achieving a higher price

Rate hikes could limit the upside potential of home prices

Hong Kong property developers are offering new projects at lower starting prices to stimulate sales in an environment of rising interest rates and increasing supply of flats.

Sun Hung Kai Properties (SHKP), Hong Kong’s biggest developer by sales, for instance, on Sunday set the starting price for a 217 sq ft flat at its Silicon Hill project at HK$3.85 million (US$490,460) in its latest price list. This was lower than the HK$4.97 million it asked for a 291 sq ft flat in the first round of sales on June 3.

“Developers will first test the water with low starting prices, seeking [higher] sales volume before [achieving a higher] price,” a property agent said.

Homebuyers in the city whose mortgage is linked to the Hong Kong Interbank Offered Rate (Hibor), had seen their repayments go up since March, when the Hong Kong Monetary Authority (HKMA), the city’s de facto central bank, raised rates in lockstep with the US Federal Reserve. On Monday, however, the one-month Hibor more than doubled to 0.61 per cent, from 0.28 per cent when the US raised interest rates for the first time this year on March 17.

This is because the Fed announced its biggest one-time increase in 28 years last week, which prompted the HKMA to also raise Hong Kong’s base rate by 75 basis points to defend the stability of the local financial system.

As a result, the monthly repayment of a HK$5 million loan for 30 years at the rate of 1.3 per cent above the Hibor on Monday rose 5.4 per cent from early March, before the first interest rate rise in the US, to HK$18,254, according to a mortgage brokerage service company’s mortgage calculator.

“Facing interest rate hikes in the US, some buyers may be more hesitant,” the agent said.

In a market dominated by self occupiers, who are likely to be more price sensitive, such rate hikes could limit the upside potential of home prices, another agent said. The property consultant has forecast a 5 per cent decline in home prices this year.

“The US rate hike will have a cooling effect on investment demand. Buyers will prefer to put their money in banks, which is risk free,” the agent said, adding that the price gap between the primary and secondary markets will narrow to 15 per cent from 20 per cent currently.

An property market index compiled by a property agency, reported the biggest drop in 12 weeks at 0.95 per cent to 180.78 for the week ending on June 12.

Two days before SHKP announced its lowered price list, CK Asset Holdings revealed the starting price for the first batch of units at Grand Jeté development, which at HK$4.37 million for a 284 sq ft flat. The pricing for Grand Jeté, which has been developed by CK Asset and SHKP, is 10 per cent cheaper than new projects in the area, according to the property agency.

The rate hikes could potentially coincide with the launch of about 12,646 units this year and early 2023, according to an estimate by another property agency.

Developers may speed up launches, because it will be easier to launch projects before any further increases in local interest rates, an agent said. Moreover, developers “will need to catch up after slow progress in the first half of the year”, the agent added.

“The market will automatically adjust according to the actual environment. Under the large supply, the pricing of new developments needs to be more competitive,” the agent said.

Natalie Gao, 35, who bought a one bedroom, 400 sq ft home in Hong Kong’s Discovery Bay in 2018 for about HK$5 million, said the a couple of hundred more in mortgage payments each month will not add “too much pressure” to her life.

“But I might want to plan a bit further now, as it seems that this is just the start of an interest rate hike cycle. I am considering cooking more at home and cutting down spending on dinning in,” she said.

(South China Morning Post)

 

$720m Jardine's Lookout house up for sale

A two-story house at Jardine's Lookout with a value of HK$720 million or HK$110,889 per square foot has been put on the market.

The 6,493-sq-ft house on 8 Purves Road is built upon a site of 9,814 sq ft and can be redeveloped into a three-story home, a property agency said.

In the primary market, Chinachem Group sold a four-bedroom home together with a parking space at University Heights in Mid-Levels West for HK$71.8 million by tender.

The 1,584-sq-ft home costs around HK$45,328 per sq ft, the developer said, adding that it has recorded contracted sales of over HK$930 million after selling 10 units in the project.

Meanwhile, Sun Hung Kai Properties (0016) said its phase 1 of Silicon Hill in Tai Po is set to put 72 flats on sale on Friday. The homes, with areas ranging from 217 sq ft to 661 sq ft, are priced from HK$3.85 million to HK$11.41 million after discounts or from HK$16,963 to HK$19,773 per sq ft.

The sixth price list released on Sunday has 58 homes ranging from 217 sq ft to 578 sq ft and priced from HK$3.85 million to HK$10.03 million after discounts, or from HK$17,079 to HK$19,773 per sq ft.

In Tseung Kwan O, Villa Garda I - phase 11B of Lohas Park - which provides 592 units has been granted presale consent, the developers said. The project is jointly developed by Sino Land (0083), K Wah International (0173) and China Merchants Land (0978).

In Hung Hom, Henderson Land Development (0012) launched the fourth price list for Baker Circle Dover, offering 68 homes at an average per sq ft price of HK$24,168 after discounts.

(The Standard)

 

MTRC rolls out Tung Chung site again

MTR Corporation (0066) said it will invite developers to submit their expressions of interest for the Tung Chung Traction Substation Property Development today after rejecting five bids last year.

The deadline for submission would be at 2 pm next Tuesday, the railway operator said.

The project is a residential development to be built on top of the Tung Chung Traction Substation and its associated railway facilities with a maximum residential gross floor area of 87,288 square meters. It may provide 1,400 to 1,800 residential units.

The development attracted five developers and consortiums to submit tenders, including CK Asset (1113), Henderson Land (0012), Sun Hung Kai Properties (0016), Sino Land (0083) and Chinachem Group, but none were accepted by the MTRC.

The land premium was expected to be HK$4.77 billion and the value of the site was estimated to be up to HK$7.5 billion - about HK$8,000 per sq ft by then.

The successful bidder would have to share at least 15 percent of the project sales with the MTRC, local media had said.

It is expected that these terms may be relaxed.

A total of 35 expressions of interest for the project were received a month before the tender.

This came as the MTRC said deputy director for capital works Carl Devlin will succeed Roger Bayliss, who will retire, as the new director with effect from August 1.

Devlin, 53, will be responsible for leading the Capital Works Business Unit and overseeing the company's capital works portfolio, covering new railway extensions and operations projects, the MTRC said in a filing yesterday.

The amount of his emoluments, which excludes discretionary variable remuneration, is HK$4.79 million per annum, it said.

Bayliss will retire upon completion of his service agreement with the firm immediately after July 31 and will cease to be the capital works director and a member of the executive directorate of the company, the railway service provider stated.

In other news, the MTRC was recognized as a well-rounded innovator by the Hong Kong Management Association and Microsoft Hong Kong.

Microsoft Hong Kong said the MTRC recognizes the new possibilities of evolving digital technologies in the fast-changing business landscape and commits to being the industry pioneer in enhancing customer experience using digital technologies and promoting Smart City developments in the city.

(The Standard)