CK Asset (1113) sold more than 95 percent of all its 219 standard units at The Coast Line I in Yau Tong after sales kicked off yesterday, but warned that the property market would continue to be sluggish.

At least 209 flats, including all the one and two-bedroom units, were snapped up yesterday after the developer received nearly 9,000 checks, or 40 times the number of homes on sale.

The homes up for sale included 110 one-bedroom, 44 two-bedroom and 65 three-bedroom flats.

They were priced between HK$3.65 million and HK$13.4 million after discounts, from HK$13,381 to HK$18,239 per sq ft. The discounted price was HK$15,939 per sq ft on average.

The developer said more than 3,700 potential buyers showed up at the sales office yesterday and it was very satisfied with the sales performance.

Still, it was a sharp contrast to the second phase The Coast Line II of which all the 626 units were sold within a day - the highest in more than eight years - when the sales were launched a week ago.

The Coast Line II, averaging HK$14,868 per square foot after discounts, set a record of over 38,000 checks before the sales.

Executive director Justin Chiu Kwok-hung said that the market sentiment was weaker than expected and that the prices of all the unsold units in the first phase might be slightly higher than what the market could afford despite the three-bedrooms and sea views of the phase.

Chiu said buyers nowadays were "extremely sensitive" to price and would hesitate if the prices were even marginally above budget.

Meanwhile, in Tseung Kwan O, the developers of Villa Garda III in Lohas Park said another batch of at least 65 flats would be released as early as today.

The project, jointly developed by Sino Land (0083), K Wah International (0173), China Merchants Land (0978), and MTR Corp (0066), is about seven times oversubscribed with more than 1,050 checks placed for the 130 units included in the first batch.

The developers said over 5,000 groups of buyers have visited the show flats so far.

Also in Tseung Kwan O, developer Kowloon Development (0034) sold six homes at Manor Hill for a total of HK$28 million yesterday.

As the market remained focused on the primary market, homes in the secondary market have come under pressure with the number of transactions in 10 major housing estates falling 38 percent week-on-week to just five deals on the weekend, according to a property agency.

No transaction was recorded at eight of the 10 major housing estates, the agency said.

(The Standard)

Hong Kong property: discounts bring relief to ailing sector as thousands queue once more for flats at CK Asset’s The Coast Line I in Yau Tong

The developer looked set to shift all 219 units on offer in phase I, according to a property agent

The HK$15,939 per sq ft price tag was slightly higher than the HK$14,868 at last weekend’s sale, which itself was 16 per cent cheaper than the launch in January of Wheelock’s Koko Rosso project

Almost 4,000 homebuyers rushed to snap up flats at CK Asset Holdings’ The Coast Line I in Yau Tong on Sunday, just a week after all units in the other phase of the project, The Coast Line II, sold out on their first day of sales.

With 95 per cent of the available units sold as of 8pm, the developer looked set to shift all 219 standard units on offer in phase I, according to a property agent.

There was a sense of déjà vu as hundreds of prospective buyers started to line up outside the sales office in Hung Hom as early as 9.30am. Thousands more then joined a queue that ended up extending all the way from the atrium of the Fortune Metropolis mall to the Hung Hom MTR station.

About 3,700 would-be buyers visited the sales office Sunday morning, according to Justin Chiu Kwok-hung, CK Asset’s executive director.

However, some units were not yet sold due to higher selling prices. “Buyers are extremely price-sensitive nowadays, and they would be discouraged by the slightly higher price than their budgets,” Chiu said.“The market will remain sluggish.”

CK Asset, the flagship property developer of feted tycoon Li Ka-shing, priced the flats in The Coast Line I at an average discounted price of HK$15,939 (US$2,035) per square foot.

That was slightly higher than the average HK$14,868 per square foot price tag at last weekend’s sale, which itself was about 16 per cent cheaper than the most recent launch in January of Wheelock Properties’ Koko Rosso project in the same neighbourhood.

The units include 110 with one bedroom, 44 two-bedroom flats and 65 three-bedroom homes, with areas ranging from 273 to 736 square feet and discounted prices ranging from HK$3.65 million to HK$13.4 million.

More than half of the prospective buyers had unsuccessfully attempted to purchase units in The Coast Line II, an agent said at the sales site.

The prices of new flats launched recently were 20 to 25 per cent lower than those of second-hand apartments of the same quality in the neighbouring areas, the agent said.

“Although the property market has been in a downturn, as long as there is a discount, people will rush to buy flats,” the agent said.

It is likely that the number of first-hand transactions will rise to about 1,500 for the whole of this month, more than double that of July, the first agent said.

Interest rate hikes coupled with the launch of discounted new homes have led to a muted atmosphere in the secondary market and the further downward movement of property prices, according to market watchers.

A market index a gauge of lived-in home prices compiled by an agency, showed that Hong Kong’s second-hand home prices fell 1.54 per cent to 162.88 for the week ended August 18, the biggest drop since November 2022.

That ended a three-week winning streak for the market index, as it fell through 163 points to a 26-week low.

“The secondary housing market is extremely quiet and after a long period of [holding out], more and more homeowners are facing the reality and willing to reduce price to reach a deal,” another agent said.

Some property owners chose to leave the market at a loss. A two-bedroom flat at Tai Po Centre was sold at HK$5.02 million, the unit was originally put up for sale at HK$5.6 million earlier, according to a property agency.

The owner purchased the unit in 2020 for HK$6 million.

Earlier this week, another housing project in Hong Kong – Villa Garda III by Sino Land, K Wah International and China Merchants Land – intensified their sales campaign by releasing their first price list at discounts.

The move was in response to the renewed buying interest sparked by CK Asset’s successful launch, according to analysts.

The project is located in Tseung Kwan O district’s Lohas Park neighbourhood and the developers aim to capitalise on the revival in demand and pre-empt launches by rivals, the analysts said.

(South China Morning Post)

中環甲廈租客頻「升級搬遷」 騰出舊址放租 空置率稍見回落

中環區甲廈市場表現不俗，嶄新地標即將落成，吸引租客頻作「升級搬遷」，不過，由於租客未見大幅擴充，當承租了新據點，舊址勢必騰出放租，空置率只是稍見回落。

近期中國工商銀行大手洽租中環長江集團中心二期，涉及樓面多達20萬方呎，若然落實，將是一宗轟動的「升級搬遷」，工行目前租用同區花園道3號多層樓面，作為香港總部，該廈亦命名為「中國工商銀行大廈」，假如成功租用長江集團中心二期，原來據點將會騰出放租。

有代理表示，目前整體商廈市況一般，新租賃及大幅擴充未算熱烈，不過，大手洽租，租客積極升級，仍為市場帶來動力；由於租賃屬於預租，相信舊址有足夠時間尋找新租客。

工行洽租長江集團中心二期

恒基旗下 The Henderson，以及長實旗下長江集團中心二期，將於今年內落成，合共提供約100萬方呎樓面，預租該大廈租客，主要來自升級搬遷，亦包括承租長江2期5000多呎的滙橋資本，由同區告羅士打大廈遷來；加拿大退休金計劃投資局承租 The Henderson 約28000方呎，來自同區的約克大廈。

事實上，經歷疫情洗禮後，不少外資機構離港赴往新加坡設立據點，由於商廈缺乏剛性需求，因此企業新租賃及擴張規模減少，市場以搬遷及續租主導，根據一間外資代理行資料顯示，上半年整體空置率升0.4個百分點，目前處於15.7%水平，屬於歷來新高。

中環100萬樓面今年落成

根據高另一間外資代理行資料顯示，最新「升級搬遷」，不再是疫市期間的要求縮小面積，而是承租較多樓面，市場睇樓氣氛有所改善，預期第3季進入「轉角位」，市況有起色，第4季向上，料今年全年租金可錄得3%升幅。

(星島日報)

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樓市會循環 現屬入市好時機

首次投資商廈 德林陳寧迪：投港信心一票

近期市況一般，德林控股 (01709) 卻選擇此時投資中環甲廈，德林控股集團董事局主席陳寧迪認為，樓市是循環，本港資金非常充裕，現時屬入市好時機。他又指，投資罕有物業才有價值，故會留意核心區甲廈及優質地段豪宅。

日前德林控股公布，投資近3億元購入即將竣工、位於中環威靈頓街92號銀座式商廈最高5層單位，並獲得該物業的命名權，將命名為「德林大廈」(DL Tower)，公司計劃將總部遷入該物業，此投資為集團首次投資香港商業地產。以5層總樓面約1.16萬平方呎計，呎價約2.53萬元。

3億購中環商廈5層 作總部

近來樓市充斥負面消息，如發展商減價、蝕讓個案增，不少人憂心樓價還會下跌。陳寧迪指出，公司是次作出收購，已是投香港信心一票，「很少金融機構，選擇此時入市物業，我正想向所有投資者表達，對香港充滿信心」。

他分析，樓市永遠是循環，冬天過後春天便來，或許循環可能「遲到」，但一定不會不到，現是入市時機。他以個人經驗為例，「金融海嘯後，很多人失業，對後市無信心，連我自己也出售貝沙灣住宅套現，後來樓價倍升」。

早前有報道指，外資逐步離開香港，陳寧迪對此不表認同，「資金數字解釋一切，銀行體系總存款額逾15萬億，一半是外滙，數字不斷上升」。市場資金充裕，「香港管理30萬億港元資產，46%為本地，54%來自外地，當中涉及地產比例仍然低，非常有潛力」。

是次首度入市，選擇中環甲廈。眾所周知，甲廈空置率升至高位，陳寧迪指，「寫字樓講供應及需求，去年新落成逾300萬呎樓面，97%來自非核心區，包括九龍灣、啟德，中環未有。今年亦有逾200萬呎，4成來自中環，但其實只是涉及3幢物業，而長江集團中心二期及 The Henderson 根本不會出售，故我們投資威靈頓街商廈正是難得」。

投資物業 要選擇核心區

新項目將於明年入伙，集團購入5層樓面，把4層作辦公室，1層作為會所，可招待客戶。他認為，投資任何物業，均要選擇核心區，供應最少的地段，「香港整體空置率15%，中環只是6%，而中環就是中環，屬最罕有地段」。寫字樓空置高並非香港獨家，全球如澳洲、美國等亦出現辦公室空置上升，「跟美國業主討論，當地即使在一綫地段，疫情3年出現在家工作，更指出助創意，故業主現把樓面重新定位，結合工作、娛樂，提供一個舒適地方，日後我們亦會參考，而購入大廈將雲集高級餐飲、對冲基金等，感覺將很時尚」。

樓市另一關鍵因素是利息高，他指，「由零息加到5至6厘，絕對有影響，主要影響中低價物業，高價物業受衝擊較少，或許投資者會認為，5厘做定期比起投資物業好，但記緊利息會下跌」。

除了商廈外，陳寧迪亦提到超級豪宅，並指出最優質地段的豪宅，大多頗為陳舊，故可以考慮發展，興建超級豪宅，吸引內地買家」。

(經濟日報)

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