Hong Kong homebuyers show up for third weekend sale in a
row, shrugging aside Trump’s threat amid rising US-China tension
Hong Kong’s real estate buyers
turned out in droves for the third consecutive weekend, as they shrugged aside
the Trump administration’s threat to strip the city of its special trade status
amid escalating US-China tension.
Sales results were mixed at two
developments in different parts of the city. Sun Hung Kai Properties (SHKP),
the city’s largest developer by market capitalisation, extended last weekend’s
sell-out streak and sold 200 of the 209 flats offered in the third batch of
Phase II of its Wetland Seasons Park project in Tin Shui Wai as of 8:30pm,
according to property agency. Wheelock & Co., the fourth-biggest developer,
managed to find buyers for only three of the 101 apartments at the more
expensive Ocean Marini complex in Tseung Kwan O, agents said. “Wetland Seasons
Park sold well, reflecting real demand from the market, Property agent said,
adding that he expects the current batch to sell out. “Those on offer at Ocean
Marini are the last batch of the project, which has been up for a while. That’s
why the response is [lacklustre].”
The mixed results underscore how
Hong Kong’s previous residential property bull run has given way to a buyers’
market, as investors now get to have the pick of the best locations with the
biggest discounts in an economy mired in its worst recession o record. The most
recent government data showed the transaction value of new and second-hand
homes tumbling by 52 per cent in April, compared with last year. A property
agency market index, which tracks the prices of used homes, fell 6 per cent in
April, from a record in June 2019
Escalating tension between the
United States and China has added more weight on the property industry, as more
buyers held off on making large financial commitments amid rising political
uncertainty and job insecurity. Hong Kong’s economy is projected to shrink 7.5
per cent in the second quarter, putting it on course for a 4.8 per cent
contraction this year, according to Standard Chartered.
The city’s real estate slump stands
in sharp contrast with mainland China, where a central bank injection of
liquidity for post-coronavirus economic stimulus has found its way into the
property market, spurring the bounceback of prices in some of the biggest
cities. Prices had been rising so quickly in Shenzhen that the city’s Housing
Authority was compelled to boost supply in the second half of the year to rein
in prices.
The Ocean Marini flats on offer by
Wheelock are priced at between HK$8.72 million (US$1.12 million) to HK$18.74
million, with a total sales value of HK$1.33 billion. The units, with areas of
541 to 1,062 square feet, are sold for between HK$15,001 and HK$23,323 per
square feet after a 22 per cent discount.
SHKP’s Wetland flats are being offered for between HK$4.04
million to HK$18 million, or a price range of between HK$11,358 and HK$14,938
per square feet. The developer sold 98 per cent of the flats on offer last
weekend.
In an indication of the strong demand, a total of 7,631
buyers put down a deposit to enter a lottery for the 298 flats at Wetland
Seasons Park last weekend. The flats, located in northwestern New Territories,
were priced at HK$10,842 to HK$15,670 (US$2,021) per square foot, with sizes
ranging from 331 to 816 square feet (76 square metres).
(South China Morning Post)
德祥土瓜灣工廈申強拍 估值1.8億
由德祥地產收購的土瓜灣上鄉道21至31號工廈，昨日申請進行強制拍賣，物業市值約1.79億元，料可建樓面約8.2萬平方呎，屬於今年第14宗強拍申請。
上鄉道21至31號(單號)的工廈在1958年落成，樓齡約62年，樓高4層，由德祥財團等在2018、2019年開始收購，當時每個單位收購價大約750萬至1,800萬元不等，現時成功收集足夠業權提出強拍統一業權。
可建樓面8.19萬呎 作商住發展
據土地審裁處資料顯示，該強拍由萬利富、崇星等8間有限公司聯合提出，目前只餘地舖的業權未完成收購，分別是由嘉禾體育用途、永利車行等有限公司持有，估計是自用舖位。
發展商提交的測量報告顯示，該工廈佔地約9,100平方呎，目前為「住宅(戊類)」用途，以地積比率9倍發展，可建樓面約8.19萬平方呎，可作商住發展，目前物業估值約1.79億元。
(經濟日報
