350 flats at residential project jointly developed with MTR Corp go on sale this weekend

Not difficult to see all flats being snapped up on Saturday, property agent says

Sun Hung Kai Properties (SHKP), Hong Kong’s largest property developer by market capitalisation, will on Saturday launch its biggest weekend sales since July 2022 for a new project in Tin Shui Wai.

About 350 flats at Yoho West – a huge residential project jointly developed by SHKP and MTR Corp – will be put on sale this weekend. The flats on sale will be drawn from three price lists SHKP has released for a total of 613 flats.

The first batch of units has been priced at an average of HK$10,888 (US$1,395.5) per square foot after discounts – a six-year low for new homes.

A second batch of 163 units has been priced at HK$11,633 per square foot on average after discounts, while the third batch of 170 units has been priced at HK$12,437 per square foot after discounts.

Property agents are optimistic about the sale despite a sluggish property market.

“It is not difficult to see all flats being snapped up on Saturday,” an agent said. About 15,000 prospective buyers have written cheques to vie for the 350 flats on offer, the agent added.

Despite lukewarm sentiment, property developers still need to sell their inventories for cash flow in a high interest rate environment, said Raymond Cheng, managing director and head of China and Hong Kong property at CGS-CIMB Securities.

Yoho West will be profitable despite the current discounts because of an estimated gross margin of 30 per cent, Cheng said. SHKP’s sales in Hong Kong are expected to reach around HK$30 billion to HK$35 billion for the whole financial year, with Yoho West accounting for less than 10 per cent of its overall sales, he added.

The project is attractive as its cheapest flats have been priced at about a 20 per cent discount compared to the first batch of the third phase of SHKP’s Wetland Seasons Bay project, also in Tin Shui Wai, the agent said. Flats at Wetland Seasons Bay launched in September 2022 were offered at HK$14,344 per square foot.

Yoho West’s discounted selling price ranges from HK$2.99 million to HK$10.9 million, or HK$10,000 to HK$16,701 per square foot, after discount.

Situated atop the Tin Wing MTR stop, Yoho West is the first of two phases, with 1,393 out of a total of 1,976 units. Saturday’s sale is expected to be SHKP’s biggest since July 2022, when homebuyers snapped up all 336 units on offer at its Novo Land development in Tuen Mun.

SHKP said in its result announcement for the year ended in June that the developer’s sales targets for the current year for Hong Kong and mainland China were HK$33 billion and HK$5 billion, respectively.

For the rest of this financial year, it would launch five new projects in Hong Kong: Yoho West and Yoho Hub II in Yuen Long, the third phase of Novo Land in Tuen Mun, and the first phases of Cullinan Sky and Cullinan Harbour in Kai Tak. A joint-venture project in Ho Man Tin is also set to be launched, according to filings by SHKP.

Hong Kong home builders are speeding up sales amid downward pressure on home prices, as well as a low number of transactions.

The city’s lived-in home prices fell by 2.16 per cent in October, dragging the official index to its lowest point in more than six-and-a-half years, as transactions hit their lowest level for the year.

The Rating and Valuation Department’s gauge of lived-in home prices slumped to 321.4 – only a whisker higher than the 321.2 recorded in March 2017 – from 328.5 in September, according to the latest data, released on Tuesday.

The primary market recorded a total of 362 transactions in October, a 32 per cent increase from the 274 cases in September, which was this year’s lowest total, according to the property agency. But October’s tally was far below that of March, which recorded 2,100 transactions.

However, Victor Lui Ting, SHKP’s deputy managing director, said he remains positive as the negative factors in the market have begun to recede and the positive factors are gradually strengthening.

In the past two years, there have been only around 10,000 first-hand transactions, which is on the low side, and lower than the overall average figure in the past, Lui said. “This shows that the market has stored up a huge amount of purchasing power, waiting for attractive properties, and it is believed that property prices will return to the upwards trend next year,” he added.

(South China Morning Post)

港島甲廈 10月租金按月跌0.3%

有外資代理行發布最新的香港每月物業市場報告顯示，寫字樓租賃需求萎縮及空置率高企，令甲級寫字樓租金繼續下跌。而10月整體港島區甲級寫字樓租金按月跌0.3%至67元，當中以中環錄最大的按月跌幅，租金較上月跌約0.5%至每呎約99.9元，較去年同期下挫約7.8%。同時，該月區內的寫字樓空置率亦創下新高，達到10.4%。

該行估計，在市場缺乏強勁的需求驅動因素的情況下，寫字樓租賃氣氛將持續疲弱，更多租戶在作出入市決定前，傾向採取觀望態度。

(經濟日報)

金鐘力寶中心高層意向月租10萬

有代理表示，金鐘力寶中心二座高層02至03室，面積約2197方呎，意向月租約10萬，平均呎租約45.5元，該單位對正電梯大堂，室內裝修新淨，設有來去水、茶水間及一組大型儲物櫃，茶水間已擺放枱椅，適合中小型機構進駐，單位可外望全海景觀，屬該廈優質戶。

平均呎租45元

另有代理表示，灣仔軒尼詩道418至430號友光大廈地下2A舖，建築面積約560方呎，意向價約5000萬，平均呎價約89286元。該物業連約放售，現時租予鮮果店，租期至明年上半年，月租約12.5萬，料回報約3厘。該物業為單邊舖位，門闊約32呎，面向軒尼詩道及寶靈頓街，鄰近鵝頸街市，附近商舖以新鮮蔬菜及肉類為主，享協同效應。

(星島日報)

更多力寶中心寫字樓出租樓盤資訊請參閱：力寶中心寫字樓出租

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九龍灣宏天廣場兩全層續租減12%

近年商廈租金普遍下跌，續租亦不例外，九龍灣宏天廣場8及9樓，每層建築面積約28000方呎，合共56000方呎，由入境處相關部門續租，月租62萬，平均呎租約12元，該單位於2020年6月續租，當時雖然為疫市，但租金較現時高，月租71萬，最新租金下跌12.6%。

入境處相關部門每月62萬續約

今天以來，九龍灣商廈整體租賃有改善，市場連錄大手租賃，其中包括醫管局租用九龍灣啟匯約10萬方呎樓面，為今年以來九龍東最大宗甲廈租賃，業界預期月租約150萬。項目前身為傲騰廣場，於資本策略為首的財團購入後，進行大幅翻新，醫管局承租2層半樓面，合共約10萬方呎，由於大手承租，預期呎租約15元，月租約150萬，較同廈呎租16至18元，有一定折讓。

(星島日報)

更多宏天廣場寫字樓出租樓盤資訊請參閱：宏天廣場寫字樓出租

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佐敦莊士倫敦巨舖呎租47元 面積逾3200方呎 夾公仔店短租

佐敦莊士倫敦廣場一個巨舖，前身龍豐藥妝，疫市後業主將之拆細2個舖位招租，繼早前其中一個由化妝品連鎖店承租，另一個舖位面積逾3200方呎，由夾公仔店短租，月租約15萬元，平均呎租47元。

佐敦彌敦道219號莊士倫敦廣場地下6至9號舖，建築面積約3224方呎，租客為夾公仔店，該巨舖位處柯士甸道接近彌敦道，舊租客龍豐集團，過往一併承租該廣場1至2號舖，連同6至9號，建築面積共4825方呎，月租達55萬元，呎租約114元，租期由2019年2月至2022年2月，龍豐集團在2022年初提早撤出，舖位丟空至今年7月，其中位處彌敦道單邊的1及2號舖，建築面積約1601方呎，由卡萊美以每月約20萬元承租，平均呎價124元。

每月租金15萬

至於6至9號舖，面積雖然偌大，但位處柯士甸道，搶眼程度未及彌敦道，租金較廉宜，巨舖一拆為二，亦見證淡市下業主舉動，將舖位拆細，才容易租出。事實上，該舖位早年亦是分間出租，租戶包括服裝品牌 G2000 及便利店等，龍豐集團當年一口氣合併打通承租。

舊租客龍豐集團

位處佐敦該舖位對面，協成行九龍中心一個單邊舖王，佔據柯士甸道大單邊，對正交通燈位置，疫情前先後由珠寶店、時裝品牌承租，最新亦首錄食肆進駐，租客為紅島冰廳，月租約45萬元，地庫、地舖連同1樓，最新獲每層面積分別各約2065方呎、1984方呎及1994方呎，總面積約6043方呎，平均呎租74元。紅島冰廳為港式茶餐廳，目前在旺角彌敦道594號擁有店舖，租客亦看中該巨舖位罕有當眼，舖前人流如鰂。

該巨舖見證近年舖市翻天覆地的變化，對上長租客為時裝連鎖店佐丹奴，於2016年10月進駐，月租約90萬，2019年10月租約屆滿時，正值社會動亂，於是撤出。隨後，丟空逾半年後，地舖及地庫曾由時裝店包浩斯短租，月租15萬；過去兩年，由業主協成行自用，作為何文田新盤芳菲售樓處。

該舖位處柯士甸道，搶眼程度未及彌敦道，租金較廉宜，淡市下，巨舖拆細，才容易租出。

(星島日報)