Wheelock Properties will launch six new projects offering altogether 3,000 units this year, expecting to benefit from Hong Kong's recovery.

Managing director Ricky Wong Kwong-yiu said in a ceremony that "the bad news has left" as the transaction in Wheelock's projects is increasing and the appointments of home viewing and inquiries have rebounded significantly after the border with the mainland reopened.

Wong is optimistic about the property market this year as Hong Kong is accelerating its recovery. HSBC (0005) raised Hong Kong's economy growth forecast to 3.8 percent this year.

The developer sold 587 units last year, cashing in over HK$9.5 billion together with car parking spaces.

But Wheelock will speed up this year, with a plan to offer more than 3,000 units in six new projects, including Miami Quay II and No 19 Shing Fung Road in Kai Tak, Koko Hills Phase 3A in Lam Tin, Phase 12 of Lohas Park in Tseung Kwan O, Spring Garden Lane in Wan Chai, plus a luxury project of No 1 Plantation Road on the Peak.

(The Standard)

Home sales tick up with border reopening

A mainland buyer has purchased a Lohas Park apartment in Tseung Kwan O for HK$12.8 million, according to real estate agecny.

The property, with a stamp duty of HK$3.84 million, was sold as market sentiments improved after China reopened its border.

The four-bedroom unit was priced at HK11,297 per square foot following a 6 percent discount offered by the owner, the agency said.

The sale was reported as the agency’s index tracking deals in 138 housing estates in the preceding fortnight increased 0.27 percent this week. The index has gone up by 0.31 percent since the beginning of the year.

Meanwhile, the index increased for eight weeks in a row - up 0.9 percent this week - indicating a recovery in homebuyers' confidence amid China's reopening. The agency expects home prices in Hong Kong to continue to rebound if the confidence index stays positive.

Another property agency said that 197 properties in Tseung Kwan O were sold in the first half of January, up 22 percent from a month ago.

Attributing the increase to border reopening, The agency expects the rebound to continue in Tseung Kwan O before the Chinese New Year.

Elsewhere on the Mid-Levels, Chinachem sold a three-bedroom flat at University Heights for HK$68 million by tender, or HK$44,884 per sq ft. The property includes a 429-sq-ft terrace.

A duplex of K Summit in Kai Tak, developed by K Wah International (0173), was sold by tender for HK$73.89 million yesterday, marking a new high for the project. The 1,798-sq-ft property was traded at HK$41,096 per sq ft.

The rebound followed a relatively weak year. Last year, land premium payments dropped by 7.6 percent to HK$41.48 billion from the previous year - although the sum for the fourth quarter surged strongly by 6.4 times to HK$15.08 billion, according to Lands Department data.

(The Standard)

Hong Kong property: cash is king as rate hikes, capital depreciation raise the bar on investment returns

Property investment loses appeal as homebuyers, investors get better returns from keeping cash in time deposits

Analysts at Wall Street firms, real estate consultancies and agencies are still divided on price recovery prospects in 2023

Hong Kong’s economic troubles and higher bank deposit rates are raising the bar on property investment returns in the city, persuading homebuyers and speculators alike to hold onto their cash for now, according to industry analysts.

Interest rates have risen since last March as the Hong Kong Monetary Authority lifted its base rate in lockstep with US hikes, prompting some commercial banks in the city to raise their lending and deposit rates to levels last seen more than two decades ago.

Fubon Bank, for example, last month offered up to 5.1 per cent interest on 12-month deposits of at least HK$200,000 (US$25,600). Annual rental yields on typical flats measuring up to 430 sq ft in Hong Kong have slipped below 3 per cent on average since August 2016, according to government data, while home prices retreated 17.3 per cent from an all-time high in August 2021.

“When people see weaker [property or] asset prices, they will say cash is king,” said Lee Shu-kam, head of economics and finance department at Shue Yan University. “So I will be pessimistic” on the industry outlook, he added.

That suggests the slump in Hong Kong’s property market activity is not about to reverse soon. Home transactions fell last year to a 27-year low of 45,050, according to data compiled by a property agency. Deals involving residential properties liable for extra stamp duties shrank 42 per cent to 2,972, the least since government records began in 2014.

Hong Kong’s economy shrank 4.5 per cent in the third quarter, in addition to a 1.3 per cent contraction in the preceding three months. While China’s reopening will spur recovery, Financial Secretary Paul Chan Mo-po has cautioned the rate-hike cycle is far from over.

The outlook appears to be equally weak in the commercial real estate market. Volumes involving deals worth at least HK$78 million tumbled 36 per cent last year to HK$52 billion, according to another agency, while the number of transactions almost halved to 129.

“The overall investment volume is forecast to remain weak in the first half of 2023 as high financing costs will remain a major barrier,” an agent said. Activity, however, could improve in the second half as economic recovery gains traction, the agent added.

What could brighten the outlook? Some analysts believe the city’s property market will start rebounding soon after China abandoned its zero-Covid policy and reopened its borders from this month. The Federal Reserve is also expected to temper its hawkishness after inflation cooled last month.

“Interest rates are likely to fall [later this year], so high interest rates will only be a short-term phenomenon,” said Chong Tai-leung, associate professor of economics at Chinese University of Hong Kong. The return of mainland visitors will generate economic activity and upwards pressure on prices, he said.

Beijing abandoned its zero-Covid policy last month. The border reopening will help boost the city’s economy and housing market, Chan said in his blog earlier this month.

That may take time to crystallise. The jury is still out as industry analysts at Wall Street firms and global real estate consultancies and agencies are divided on the recovery outlook.

There are three agencies and Goldman Sachs said home prices could fall by 5 to 15 per cent this year, while Citigroup and Morgan Stanley predict they will rise by 5 per cent by year’s end. Another two local property agencies said prices may climb by as much as 15 per cent.

Investors have been reluctant to part with their cash over the past year, many stunned by steep losses in the equity and bond markets and erosion in their pension funds. China’s zero-Covid curbs contributed to a 15 per cent slump in the Hang Seng Index last year, the most in 11 years.

Besides, interest income from cash deposits is now greater than the average annual cost of living. Inflation in Hong Kong eased to a six-month low of 1.7 per cent in November, after netting out the effects of government subsidies.

“Basically, there is still very weak investment demand,” said Billy Mak, an associate professor in the department of of accountancy, economics and finance at Baptist University in Hong Kong. Without the prospect of near-term capital appreciation, investors will take five years of rental yields just to cover the 15 per cent extra stamp duty on their home purchases, he added.

“From an investment perspective, it won’t look smart to buy a home just to collect rents,” he said. Home prices are still prone to further weakness given more rate hikes in store, he added.

For instance, the number of transactions in South Horizons in the southern district declined 45 per cent last year to a four-year low of 216, according to one of the local property agency. The average price retreated 18 per cent to HK$14,519 per square foot.

“Investment demand might not come back in full force as long as interest rates or [time] deposit rates remain elevated or get even higher,” agent said.

(South China Morning Post)

尖東康宏廣場13216元易手

近期寫字樓市況趨活躍，業主趁勢放售，尖東康宏廣場一個中層單位，以2700萬易手，物業於13年間升值26%，新買家為用家。

13年升值26%

尖東康宏廣場錄1宗買賣，該廈中層2012至13室，約2043方呎，以2700萬易手，平均呎價13216元，買家為用家；該物業原由漢晨煙草自用，於2009年2138.8萬買入，持貨13年，帳面獲利561.2萬，物業升值26%，新買家為自用客。

有代理表示，九龍灣臨樂街19號南豐商業中心7樓26室，面積約1020方呎，以交吉形式交易，成交價約595萬，呎價約5833元，單位望公園景，景觀開揚。買家為用家，原業主去年中放售單位，當時叫價約643萬，其後因應市場變化調整，售價較原先叫價低約7.5%。該單位於2006年以260萬購入，持貨16年半，帳面獲利約335萬，物業升值約128%。

代理表示，南豐商業中心剛錄一宗租務成交，單位為15樓06室，面積約1187方呎，月租約1.78萬元，呎租約15元。

(星島日報)

更多康宏廣場寫字樓出售樓盤資訊請參閱：康宏廣場寫字樓出售

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

更多南豐商業中心寫字樓出售樓盤資訊請參閱：南豐商業中心寫字樓出售

更多九龍灣區甲級寫字樓出售樓盤資訊請參閱：九龍灣區甲級寫字樓出售

中環大道中巨鋪月租120萬 「戲院大王」陳俊巖家族持有 空置3年始租出

受通關效應帶動，核心區鋪位租賃轉活，「戲院大王」陳俊巖家族於三年前重建的中環豐樂行，基座巨鋪丟空3年，終以每月120萬租出，為今年以來最大宗鋪位租賃個案。

中環皇后大道中54至56號豐樂行地下、1樓、2樓及3樓，每層面積分別為2065、2205、2185、2280方呎，總面積共約8735方呎，以月租120萬計算，平均呎租137元，有代理表示，此類型複式巨鋪於市況暢旺時受捧，疫市下難於出租，現時租金大約為2008年至2009年的水平。

每呎137元重返2008年

該物業由「戲院大王」陳俊巖家族，早於三年前完成重建，上述4層複式巨鋪，空置3年，年前曾叫租180萬，直至近日通關後，才成功租出，為今年暫錄最大宗鋪位租務個案。

有代理估計，租客為中檔零售品牌，昨日市傳是早前以200萬於廣東道承租複式巨鋪的體育用品店李寧，惟相關消息未獲證實。

豐樂行全幢由單一業主持有，樓高22層，總樓面約35867方呎，樓上寫字樓每層面積約1428方呎，業主為南源有限公司，公司董事包括陳榮裕、陳榮美及陳榮民，均為「戲院大王」陳俊巖子女。

斥3400萬購銅鑼灣地鋪

早前，銅鑼灣怡和街19至31號樂聲大廈地下1A1及1A2號地鋪易手，作價3400萬，買家為陳裕榮，正是「戲院大王」家族成員。

於2021年9月，購入中環德輔道中113號遠東發展大廈地鋪，作價1.15億，成交呎價9.9萬。

陳俊巖家族早於1962年，購入銅鑼灣摩頓台11至13號，作價250萬，開設第一家叫「新都」的戲院，其間不斷擴充，直至1992年，更「大手筆」斥1.894億，一口氣購入旺角金聲、深水埗華聲及樂聲三家戲院，高峰期，旗下擁有戲院數目多達17間。

陳俊巖家族旗下4層複式鋪巨鋪，空置3年，直至近日通關後才成功租出，為今年暫錄最大宗鋪位租務。

(星島日報)

更多豐樂行寫字樓出租樓盤資訊請參閱：豐樂行寫字樓出租

更多中環區甲級寫字樓出租樓盤資訊請參閱：中環區甲級寫字樓出租

更多遠東發展大廈寫字樓出售樓盤資訊請參閱：遠東發展大廈寫字樓出售

更多中環區甲級寫字樓出售樓盤資訊請參閱：中環區甲級寫字樓出售

教育機構3.5億購HQ全幢商廈

鵬里資產沽售太子全幢商廈HQ，作價約3.5億，由一家本地教育機構承接，平均呎價約9155元。

呎價約9155元

太子砵蘭街450至454號HQ全幢易手，消息人士透露，買家為一家本地教育機構，該廈樓高15層，每層面積約3000餘方呎，總樓面約38228方呎，呎價約9155元，現時出租率約97%，租客以教育中心主導，並有部分宗教團體。該廈已獲屋宇署批准酒店改建圖則，可提供84個客房。鵬里資產於2015年以3.5億購入，近年曾多次放售，最高叫價逾7億，現時減價50%售出，持貨8年平手離場。

該項目前身為炳富商業大廈，由於物業原本較舊，鵬里資產斥資數千萬翻新，包括入口及大堂等，並易名為HQ，打造為教育主題的商廈，兩年前以7.8億放售，去年以意向價6億放售，最終大幅減價沽售，持貨8年帳面僅平手，若計及印花稅及翻新費用等，料有所虧損。

鵬里資產近日放售紅磡海名軒3樓、5樓及6樓全層，總樓面約7.7萬方呎，市值逾11.55億，單位於2018年向資深投資者林子峰以約11.6億元購入。

(星島日報)

大手買賣低位回升 外資代理行：料全年達700億

有外資代理行指出，今年在高息大環境下，投資者傾向選擇高回報物業，實力業主不會輕易劈價求售，部分交易需要更長談判時間，市場上有不少被銀主接管資產出售的個案發生，財團積極放售非核心物業，預期今年大手買賣由今年低位回升，全年達至700億水平。

去年第四季錄153億

該行代理表示，季內逾億元的大手物業成交額約153億，按季升6%，但按年下降53%，大多數投資者加息環境中觀望，第四季度交易量主要由兩筆大型與接管個案有關的易手推動，合計106億，佔本季度總投資額69%。縱觀2022年，全年總成交額錄約625億，按年跌36%，其中交投宗數主要集中上半年。

按年大跌53%

寫字樓交易佔第四季度總投資額的39%，主要為太盟投資集團 (PAG) 和豐樹產業以56億 (每呎6100元) 收購高銀金融國際中心，分層寫字樓交易第四季度相對淡靜，建築地盤佔第四季度總投資額33%，元朗和生圍住宅發展項目被接管人以近50億售出。

第四季度亦錄一全幢酒店成交，宏安地產夥拍安祖高頓基金收購新蒲崗九龍貝爾特酒店。工業物業投資放緩，受注目的有黑石 (Blackstone) 夥拍迷你倉集團合資以8.5億買入長沙灣永新工業大廈，觀塘世達中心其中三層樓面亦以約3.3億沽。

(星島日報)

更多高銀金融國際中心出租樓盤資訊請參閱：高銀金融國際中心出租

更多九龍灣區甲級寫字樓出租樓盤資訊請參閱：九龍灣區甲級寫字樓出租

商務活動漸復常 大手買賣有望增

正式通關，帶動投資氣氛，近一星期市場錄數宗工商舖大手成交，預計商務活動漸恢復，大手買賣有望增加。

近一星期市場相繼錄大手買賣，而近期積極沽貨的資深投資者羅守輝，以約7.48億元沽出大角咀海桃灣基座「西九匯」商場。陽光房地產基金 (00435) 公布，以7.48億元購入「西九匯」，位於大角咀櫻桃街38號海桃灣基座商舖，物業樓高3層，可出租面積約58,836平方呎，並連同8個外牆廣告位及17個商業停車位。據了解，項目現時每月租金收入約300萬元，回報率接近5厘。

翻查資料，項目早年由基匯資本持有，2012年羅守輝以6.3億元承接。現持貨11年轉手，獲利約1.18億元離場，升值近兩成。近期羅守輝連環沽貨，包括日前沽出灣仔乙廈兩層單位。

鄧成波家族 蝕沽尚翹峰商舖

另消息指，「舖王」鄧成波家族，以約2.1億元沽出灣仔尚翹峰1座商舖及停車場，面積約1.82萬平方呎，連50個車位。波叔於2016年，以5.642億元買入尚翹峰1至3座商舖及停車場，當中1座商舖及停車場，共涉2.43億元，是次家族沽貨帳面蝕3,300萬元。另外，家族仍持有項目第2及3座舖位，面積約7,922平方呎。

至於商廈方面錄中資機構入市。資料顯示，海富中心二座 15樓全層以1.88億元沽出，按面積約10,627平方呎計，呎價約1.77萬元，仍屬低市價成交。據了解，新買家為內企信義玻璃，購入樓面或自用。

翻查資料，該層樓面原業主為上市公司，於2017年以3.18億元買入物業作總部，不過該公司早前被停牌，並於去年3月初被清盤，上述物業及後成為銀主盤。以1.88億元成交價計，該物業在過去5年期間帳面貶值約1.3億元，跌幅約40%。

至於全幢商廈亦有投資者留意，消息指太子砵蘭街450至454號HQ全幢易手，物業樓高15層，總樓面約38,228平方呎，每層面積約3,000餘平方呎，現時出租率約97%，主要租客為教育中心、宗教團體等。據悉，項目以約3.5億元成交，呎價約9,155元，略低於市價。

項目前身為炳富商業大廈，鵬里資產於2015年以3.5億元購入，翻新並易名為HQ，基金持貨8年沽出，帳面平手離場，惟若計算支出，料有所虧損。

分析指，中港落實通關，市場氣氛轉好，由於投資者憧憬本港經濟今年向好，即使目前息口未下降，仍希望趁工商物業價格有所回調，趁早入市。隨着香港與內地及海外地區商業活動復常，料投資氣氛持續向好，大手成交可望勝去年。

(經濟日報)

更多海富中心寫字樓出售樓盤資訊請參閱：海富中心寫字樓出售

更多金鐘區甲級寫字樓出售樓盤資訊請參閱：金鐘區甲級寫字樓出售

去年商廈成交 量價跌逾4成

有代理行發表的商廈報告指出，去年全年商廈成交量錄797宗，按年下跌約41.2%，成交金額同樣錄跌幅，按年跌約43.5%，僅錄218.8億港元。全年甲廈售價下跌4.1%，乙廈售價亦跌4%。租金方面，甲廈及乙廈按年分別下挫6.8%及4.1%。

該報告指出，12月商廈售價個別發展，分散業權甲廈售價按月微升2.5%，而分散業權乙廈售價則按月跌3.2%，甲廈售價上升主要是錄得6宗50大甲廈成交，略為帶動售價拉升，成交集中於港島的核心商業區如上環及金鐘，其中較為矚目為上環信德中心西座中層的大額交易，業主以8,500萬易手，呎價3.32萬元，高於該區市場水平約20%。

甲廈今年租售價料升5%

租金方面，分散業權甲廈和乙廈租金分別按月下降1.3%及1.7%。上月租務市場發展多元，包括不同類型的預租個案及低於市價的租賃成交。根據市場消息，蘇富比拍賣行預租太古廣場六座多層樓面，涉及面積近3萬平方呎，成交呎租約60元。同時，中環長江集團中心及環球大廈錄得租務成交，市值呎租分別料約120元及43.5元，目前新租金較高峰期回調3成至5成。

該行代理表示，由於國際及內地企業往來香港進行商務活動減少，對甲廈的需求增長構成壓力，加上商廈供應進入高峰期，整體空置樓面因而上升。截至去年12月底，中環甲廈空置率為8.3%，東九龍更錄16.8%，拖累整體甲廈空置率升至10.3%。

展望來年，本港通關計劃自2023年1月已經逐步實施，惟市場初期反應較慢、通關後的實際情況仍有待觀察，故買賣及租賃需求在通關初期內未必反彈。該行預計，若2023年下半年完全恢復與外地的來往達致全面通關並配合其他利好消息推動，交投亦會回穩，預料全年整體甲廈售價及租金分別錄5%以內和5%的升幅。

(經濟日報)

更多信德中心寫字樓出售樓盤資訊請參閱：信德中心寫字樓出售

更多上環區甲級寫字樓出售樓盤資訊請參閱：上環區甲級寫字樓出售

更多太古廣場寫字樓出租樓盤資訊請參閱：太古廣場寫字樓出租

更多金鐘區甲級寫字樓出租樓盤資訊請參閱：金鐘區甲級寫字樓出租

更多長江集團中心寫字樓出租樓盤資訊請參閱：長江集團中心寫字樓出租

更多環球大廈寫字樓出租樓盤資訊請參閱：環球大廈寫字樓出租

更多中環區甲級寫字樓出租樓盤資訊請參閱：中環區甲級寫字樓出租

尖沙咀堪富利士道全幢 意向價4.6億

全幢物業具投資價值，現老牌業主放售尖沙咀堪富利士道全幢物業，意向價約4.6億元。

有代理表示，有業主以公開招募意向書形式出售尖沙咀堪富利士道11號全幢，意向書截止日期為2023年2月17日 (星期五) 中午12時正。

每月租金收入約138萬

物業建築面積約23,047平方呎，基座為零售商舖部分，包括地庫、地下、及1樓至3樓，建築面積約10,243平方呎，樓上商業樓面包括4樓至11樓，建築面積約12,804平方呎。物業位於堪富利士道頭段，鄰近彌敦道，步行至尖沙咀港鐵站入口僅需1分鐘。

業主持有該物業超過40年。是次放售意向價約為4.6億元，基座零售商舖部分市場估值約3.3億元，樓上商業樓面市場估值約1.3億元。物業計劃翻新後可作餐飲、美容、醫療及其他零售等用途，屆時全幢預計總租金收入預計將可達每月約138萬元，預計租金回報約4厘。

(經濟日報)

尖沙咀瑞信集團大廈 合中小企

尖沙咀瑞信集團大廈位處柯士甸道，優質景觀為該優賣點之一，適合中小型公司使用。

瑞信集團大廈位於尖沙咀柯士甸道，位置上稍接近佐敦港鐵站，由港鐵站出口步行至該廈，需時約5至10分鐘，大廈附近亦有巴士、小巴站等。

飲食配套上，柯士甸道有不少餐廳，近年地段亦有新式文青咖啡室。此外，附近的柯士甸路及山林道餐廳選擇亦多，或可前往尖沙咀THE ONE等商場。

柯士甸道附近以乙廈為主，包括好兆年行等，而地段因不算非常繁忙，屬靜中帶旺，觀感不錯。

大廈地下現由超市租用，而地下大堂並非連接大廈入口，觀感上稍遜。物業提供兩部升降機，通往各樓層。大廈樓高16層，樓層不算多，故升降機尚算足夠。

大廈放盤少 租務不多

物業全層面積主要約2,858平方呎，個別樓層逾3,000平方呎，普遍每層可分間為兩單位，面積分別約1,130及1,488平方呎。大廈所有單位，均望向九龍木球會方向，並可以遠望何文田及紅磡，景觀非常開揚舒適，為該廈賣點之一。單位樓底不高，空間感一般。

該廈向來極少買賣，一年未必有一宗成交，2019年3月，物業13樓A室，面積約1,123平方呎，以約988萬元易手，呎價約8,798元。其後一宗買賣，為去年4月，物業4B室，面積約1,488平方呎，以約1,280萬元易手，呎價約8,602。

因大廈放盤少，租務亦不算多，2021年12月，物業8B室，面積約1,481平方呎，以每呎約22元租出。對上一宗租務為去年6月，涉及15B室，面積約1,488平方呎，成交呎租約21元。

(經濟日報)

更多好兆年行寫字樓出售樓盤資訊請參閱：好兆年行寫字樓出售

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