Hong Kong property sales post modest results in October debut as homebuyers await new policies, expect further rate increase
Henderson Land Development’s One Innovale-Bellevue in Fanling sold 45 flats on Sunday, around one-third of the 143 units on offer
The outlook for property sales in the fourth quarter is not optimistic because of a possible further increase in interest rates
Hong Kong’s first weekend property sale this fourth quarter posted modest results, as homebuyers took a wait-and-see approach ahead of another interest rate increase, and key policy announcements in the city and the mainland later this month, analysts said.
Henderson Land Development’s One Innovale-Bellevue project in Fanling, located in the city’s planned Northern Metropolis area, sold 45 flats on Sunday, according to property agent.
While
that number represented around one-third of the 143 flats on offer, the
agent said the response was within expectation because Sunday’s sale
was the second conducted by the developer within a week. On September
27, Henderson Land sold 231, or 95 per cent, of 243 flats on offer.
“[Sunday’s]
result is not bad for a second round of sale,” the agent said. “The
project mainly caters to young people who are first-time buyers and can
only afford small-sized new flats.”
The entry price at One Innovale-Bellevue, which is designed to have a total of 1,600 flats, is HK$3.07 million for a unit that measures 221 square feet.
The Henderson Land project’s location in the Northern Metropolis is expected to benefit from the government’s plan, which was announced last year, to develop the area into an information technology hub near the border with mainland China.
“Local
homebuyers are taking a wait-and-see approach, as they want to know
what new property policies will be announced by the Hong Kong government
in the coming policy address, as well as the latest developments from
mainland China’s 20th Congress later this month,” the agent said.
Hong Kong Chief Executive John Lee Ka-chiu on Saturday said he was in the final stage of drafting his maiden policy address, set to be delivered on October 19.
China’s 20th Party Congress, which will commence on October 16, is expected to herald a third term for President Xi Jinping as the Chinese Communist Party’s head, while ushering in a new leadership team.
Sunday’s modest debut of property sales this fourth quarter reflects the short-term pressure on Hong Kong’s housing sector from rising interest rates globally.
The results come after a weak third quarter amid rising interest rates, according to another agent.
“The
outlook for fourth-quarter property transactions is not optimistic
because it is widely expected that the US and Hong Kong will continue to
increase interest rates,” the agent said. “The best-case scenario would
be that fourth-quarter home prices and transactions maintain the level
reached in the third quarter.”
Lived-in home prices in the city fell by 0.8 per cent
in the week ended September 18, according to the a market index. They
retreated by a cumulative 6.1 per cent in 10 straight losing weeks, and
by 11.2 per cent from the record-high in August 2021.
The
number of lived-in home transactions in the third quarter could reach
about 6,800 deals valued at HK$57 billion, which would be the lowest
number since 5,159 transactions worth HK$44.52 billion were recorded in
the fourth quarter of 2018, according to the agency. That number of
deals would represent a 37 per cent decrease from the second quarter,
when the value dropped by 41 per cent.
First-hand
property sales, meanwhile, reached about 4,150 transactions, up 33 per
cent than the second quarter and the highest since the 4,635 deals
recorded in the fourth quarter last year. Their value, however, declined
by 5.5 per cent to HK$36 billion, which reflected how most new flats
sold in the previous quarter were small units.
The agent said that resulted from the decision by major developers to aggressively market new projects for sale.
Hong
Kong’s 10 major banks last month increased their prime rates by 12.5
basis points to 5.125 per cent or 5.375 per cent. That means payment on a
typical HK$5 million, 28-year loan with a 2.75-percentage point
discount to the prime rate will increase by 1.6 per cent, or HK$323, to
HK$21,029 per month, according to a local mortgage broker.
Hong
Kong’s currency has been pegged with the US dollar since 1983, which
means the city followed US interest rates. Although the US Federal
Reserve has increased interest rates by 300 basis points this year,
analysts expect it will further raise interest rates by another 125
basis points around the year’s end as part of efforts to tame high
inflation.
(South China Morning Post)
外資代理行：末季甲廈空置率 持續高企
入境措施有所放寬，有外資代理行認為，市場仍需時消化大量甲廈新供應，料第四季甲廈空置率持續高企，非核心區壓力較大。
據該代理行每月商廈租金走勢上，中環最優質甲廈呎租約130.6元，按月跌約2.4%，而整體中環租金亦跌1.2%。至於邊綫地段，如上環、銅鑼灣及鰂魚涌，租金均稍為下跌。九龍區方面，尖沙咀租金按月跌1.1%，按年跌約1.8%。至於空置樓面較多的東九龍，最新呎租約28.8元，按月跌不足1%。
寫字樓租賃疲弱 港島呎租約73元
該行指，空置率創歷史新高的壓力下，香港島寫字樓的整體租金在8月份進一步下跌。寫字樓租賃依然疲弱，很多租戶選擇續租而非搬遷。港島區目前平均呎租約72.9元，今年累跌約3.6%。甲級寫字樓的吸納需求主要來自共享工作空間和政府機構。共享工作空間營運商正在積極尋求優質寫字樓作營運。其中新加坡共享空間品牌the
Great Room，於核心區增租樓面，租用中環長江集團中心2.1萬平方呎。
TEC中環新據點開幕 出租率85%
靈活辦公空間需求不俗，德事商務中心 (TEC) 位於中環士丹利街28號新據點近日開幕，成為集團在港第13個據點。涉及該廈全幢19層，總樓面約5.5萬平方呎。集團指，出租情況不俗，現時出租率已達85%。
據悉，新據點提供500個辦公位，設有共享樓層以及多個獨立辦公室。TEC指，隨着近期擴張，已經佔據中環和金鐘的甲級靈活辦公市場總面積的65%，有助鞏固業務。
核心區供應上，長實 (01113) 旗下中環和記大廈重建而成的長江集團中心二期，將於明年落成。長實再公布標準樓層全層面積約1.73萬平方呎，採用方正及無中柱式設計，並稱提供靈活多變的實用空間，強調戶戶可享維港海景。項目樓高41層，總建築面積達55萬平方呎，標準辦公室樓層建築面積約17,300平方呎，樓層採用方正及無中柱式設計，為租戶提供靈活多變的實用空間。
九龍區方面，該行指，寫字樓交易以細面積為主，營商信心轉差，以及中國內地和跨國公司缺乏需求驅動因素，預計九龍區寫字樓租賃仍將面臨壓力。
該行指，疲弱的營商環境預計持續，業主將提供更多創新和靈活的租賃計劃，以留住和吸引租戶。雖然政府已放寬邊境限制，但市場仍需要一段時間來吸納大量的寫字樓供應，預計下一季空置率將保持高企，特別是非核心區，租金將面臨壓力。九龍方面，料全年九龍區寫字樓市場的整體租金增長將在0至2%之間。與港島一樣，由於租賃活動在8月份繼續放緩，大多數租戶都持觀望態度。
(經濟日報)
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
更多長江集團中心二期寫字樓出租樓盤資訊請參閱：長江集團中心二期寫字樓出租
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
買賣方面，近期商廈罕有錄得全幢成交，涉及九龍灣高銀金融國際中心，以約70億元易手，成今年最大額商廈買賣。
總樓面92萬呎 出租率約7成
本年5月，外資測量師行獲接管人委託，標售九龍灣高銀金融國際中心全幢商廈，並於上月尾截標。據悉，項目正式售出，成交價料涉約70億元。成交價計，為今年最大手物業買賣成交。至於對上一宗最大手甲廈買賣，為去年由億京合組財團，以約105億元購入九龍灣國際展貿中心。該物業樓高31層，總面積約92萬平方呎，每層面積約3.5萬平方呎，據悉未計高銀使用樓層，現時出租率約7成，呎租約27至33元。按物業總樓面約92萬平方呎計算，成交呎價僅約7,608元。
翻查資料，高銀於2011年7月以34億元投得該商業地皮，項目於2016年入伙，一直作集團總部及收租用途。惟近兩年高銀金融陷入財困，故高銀金融國際中心多次傳出放售，及曾多次抵押。
(經濟日報)
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
更多九龍灣國際展貿中心寫字樓出租樓盤資訊請參閱：九龍灣國際展貿中心寫字樓出租
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
