HK (+852) 3990 0799

Property agency: Henderson Land’s Belgravia Place residential project in Cheung Sha Wan a hit with buyers

All 138 units available in the first round of sale were bought by 3.30pm, within four hours of the launch

The sale attracted 4,400 expressions of interest, or more than 30 buyers for each available unit

Hundreds of prospective homebuyers rushed to seize units at Henderson Land Development’s new project on Sunday, the first major residential sale after the government removed all property curbs in the budget.

All 138 units available in the first round of sale in Belgravia Place, in Cheung Sha Wan, were bought by 3.30pm, within four hours of the launch, according to the developer.

Hundreds of prospective buyers arrived at the sales office at Mira Place in Tsim Sha Tsui before the doors were thrown open at 10am, as they jostled for a chance to snap up flats.

The project attracted 4,400 expressions of interest from clients who paid a deposit in the hope of securing a flat, amounting to more than 30 buyers for each available flat, Henderson said.

Among them was a buyer who snapped up four units for a total of HK$25.8 million (US$3.3 million).

The 138 units included studios to three-bedroom flats with area ranges from 199 sq ft to 457 sq ft. The prices ranged from HK$3.2 million to HK$7.5 million after discounts, or HK$14,838 to HK$17,359 per square foot.

Belgravia Place has a total of some 1,000 units, which will be developed in two phases, with the first phase providing 714 units.

Many buyers from the mainland were spotted at the sales office.

Tang, an insurance agent who only gave his last name, was one of the potential buyers. He decided to buy a flat in the project after receiving his permanent Hong Kong identity card last year.

Tang said he was considering buying a one-bedroom flat on the secondary market because “there weren’t many choices in the first-hand market due to my limited budget of HK$4 million”.

“But since the government scrapped all the property cooling measures, many sellers have raised their asking prices,” he said. “That’s why I have turned to new homes that fit my budget.”

Since the removal of the property curbs in the budget plan, the market has been revitalised, especially the first-hand segment, an agent said.

There were about 220 first-hand sales, from studio flats to luxury flats, in the past four days, amounting to nearly 80 per cent of the primary transactions in the whole of February, according to data from an agency.

The secondary market saw 12 transactions during the weekend, according to a property agency, double the previous weekend and the most in eight weeks.

In his budget plan last week, Financial Secretary Paul Chan Mo-po scrapped the decade-old property market curbs in a drastic bid to revive the ailing sector. Home prices in February fell for the ninth straight month, dragging the official home price index down to a seven-year low.

The measures withdrawn include Buyer’s Stamp Duty that targeted non-permanent residents and a New Residential Stamp Duty for second-time purchasers. Also, homeowners will no longer be required to pay a Special Stamp Duty if they sell within two years.

Following the resounding success of the first batch of sales, Henderson said the second round of sales at Belgravia Place could be launched as early as Thursday.

“The scrapping of all cooling measures has sped up the pace of buyers entering the market as they believe the worst of the property market has passed,” said Thomas Lam Tat-man, general manager of sales department at Henderson, adding that there were a large number of mainlanders and non-permanent Hong Kong residents among the buyers.

With regards to the buyer profile, Lam said 80 per cent were in the 31 to 45 age group, and had accounted for most of the one-bedroom units.

“Some of the buyers had come to Hong Kong via the talent schemes and were currently renting flats,” he added.

Other developers have also been quick to cash in on the improving sentiment.

A property agency found buyers for 75 of the 93 flats put up for sale at The Arles, near Fo Tan MTR station in the eastern New Territories on Sunday. The project first went on sale in 2021.

The removal of the property curbs has led to a sharp rise in the number of inquiries and property viewings, according to the Hong Kong developer, adding that the company had responded to the improving sentiment and demand by offering units at discounts.

The cheapest unit was a 228 sq ft studio priced at HK$3.9 million after discounts, or HK$17,276 per square foot.

One buyer bought three two-bedroom flats at The Arles for HK$27.8 million, according to the first agency, the brokerage for the deal.

(South China Morning Post)

For more information of Office for Lease at Mira Place please visit: Office for Lease at Mira Place

For more information of Grade A Office for Lease in Tsim Sha Tsui please visit: Grade A Office for Lease in Tsim Sha Tsui


Gloomy Hong Kong retail sector gets Swiss watchmaker Omega’s vote of confidence as it opens glitzy shops in Central, K11

‘It’s a long-term investment,’ says Switzerland-based president and CEO Raynald Aeschlimann

Watchmaker opens new multistorey shops in Central, Tsim Sha Tsui even as government predicts drop in tourism spending in 2024

Swiss luxury watchmaker Omega is ramping up its presence in Hong Kong, opening two specialty shops in the city as it bets on long-term success despite slower than expected economic growth and a gloomy retail outlook.

The brand, famously known for its Speedmaster and Seamaster watches as well as being the timepiece preferred by fictional British spy James Bond, opened two boutiques in December: a 5,102 sq ft, four-storey shop in Central and a 5,565 sq ft, two-storey space in K11 Musea in Kowloon.

“It’s a long-term investment,” said Raynald Aeschlimann, the company’s Switzerland-based president and CEO. “Hong Kong has become one of the destinations of a lot of people, not only Chinese people, and it’s good to be present here in the best way, and in the same way we are in Shanghai and the same way we are in Macau.”

Omega’s confidence in the Hong Kong retail segment comes at a time of uncertainty for the city’s tourism-reliant retail sector, as spending by visitors is unlikely to grow this year, according to government estimates.

The Hong Kong Tourism Board has forecast that 46 million people will visit Hong Kong this year, 35 per cent more than last year but still just 70 per cent of the 65 million tourists who came in 2018. Compounding the problem, estimated spending per overnight visitor is expected to shrink by as much as 16.4 per cent to HK$5,800 (US$741) this year from HK$6,939 in 2023.

Those facts do not bode well for the industry. Mainland tourists accounted for 30 per cent of all retail spending in the city before the Covid-19 pandemic hit in 2020, according to a commercial property agent.

Meanwhile, retail rents in Hong Kong’s high-street shopping districts, such as Central, Causeway Bay and Tsim Sha Tsui, are estimated to have increased by between 5.3 per cent and 9.7 per cent in 2023, compared with the previous year, according to another property agency. They remain 38 per cent to 47 per cent below their pre-pandemic 2019 levels, however, data compiled by the agency showed.

In the first six months of 2024, rents will rise between 2 per cent and 7 per cent, the property consultancy forecasts.

Along with the new shops, Omega has kept its store on Russell Street in Causeway Bay, once the world’s priciest retail strip, even as many other luxury brands, such as Burberry and Prada, have left the area. Omega’s neighbours on the street now include cosmetics retailers, money changers, and a Transformers-themed restaurant.

Omega is not planning to abandon the space, Aeschlimann said.

“We have a wonderful store in Causeway Bay where we are also very well presented,” he said.

Omega’s other exclusive stores in Hong Kong are in Pacific Place in Admiralty and at the Hong Kong International Airport. The brand is part of the Swatch Group, which also owns luxury watch brands including Tissot, Rado and Longines, as well as high-end jewellery maker Harry Winston.

Aeschlimann is adamant that Omega’s bet on Hong Kong is not related to the decline in rents in what used to be the world’s most expensive market. The brand has always believed in the city’s consumers, not just its big-spending visitors, he said.

“We don’t live only on tourists, and that’s why it’s easy to stay in Causeway Bay,” he said. “If we go only for [low rent], then we would be two streets behind our shop here in Central. We have been able to secure our new locations at a reasonable price … But if you only go by [rent], that wouldn’t be Omega. We prefer to be pioneers, and make the decision of going where our customers are.”

The Central location has a traditional storefront and customer service area on the first three floors, with the fourth floor hosting “The Suite”, complete with a lounge, cocktail bar, dining area and screening room.

The K11 Musea shop, meanwhile, takes advantage of sweeping harbour views, using a spiral staircase to take guests from a reception area to a second-floor bar and dining space that also has a watchmaking salon.

The city’s government has been making an aggressive push to lure tourists from other parts of the world beyond the mainland, an initiative that should further open Hong Kong to travellers from the Middle East and Southeast Asia, an agent said.

(South China Morning Post)

For more information of Office for Lease at Pacific Place please visit: Office for Lease at Pacific Place

For more information of Grade A Office for Lease in Admiralty please visit: Grade A Office for Lease in Admiralty


億京劈最多49%促銷商廈餘貨 兩月沽6戶 電訊一代廣場價新低

政府在新一份《財政預算案》中,終於為住宅市場全面撤辣,但早於2020年底已撤銷雙倍印花稅 (DSD) 的工商舖物業,撤辣至今交投未見起色,而且造價一浪低於一浪。億京近期積極劈價出售商廈餘貨,個別更以接近半價出貨,在今年首兩個月已速沽最少6個單位,套現逾7400萬元,當中,觀塘電訊一代廣場以減價47%或以上沽貨,呎價低見7638元,較該廈高位低逾56%。









此外,億京夥拍信置 (00083) 及資本策略 (00497) 的九龍灣偉業街38號富臨中心,早前售出B座19樓A室,建築面積約3222方呎,成交價3000萬元,呎價約9311元,亦為該廈開售以來呎價新低。雖然成交價只較定價4977.99萬元低39.7%,但就附送車位一個;以往該廈車位成交價由220萬至245萬元。







尖區加拿分道巨舖月租30 擴大自由行效應藥妝店進駐


尖沙嘴加拿分道53號 Art Piece 全幢, 對面為地標商場 The ONE,高峰期曾被珠寶金行搶高至月租逾300萬。自從逾6年前遷出後,物業曾作短租,疫市後為免丟空,一直由業主自用經營美妝場,近日在自由行擴大後,以每月30萬租出,雖然新租客藥妝品付租能力跟奢侈品不能比較,不過舖位獲承租,總算是一件好事。



隨後自由行褪色,舖市風光不再,租約屆滿期為2017年10月的周生生,決定約滿前提早9個月撤出。接着物業僅地舖作短租,租客包括利是封店,樓上依然丟吉。有代理指,業主一直希望覓得品牌租客,月租意向逾120萬,惟一直未獲承租。疫市後,業主為免舖位丟空,加上有見市場對護膚品需求上升,遂自行經營美妝購物商場免納空租,物業改名 Art Piece。



近期,尖沙咀區舖位租賃加快,其中,海防道近期一個地舖,由找換店以25萬租出,較舊租客小食店 (於2020年初疫市初期) 月租18萬,加幅38%。區內金馬倫道亦變身食街,突然熱鬧起來,區內部分店舖受內地客追捧爆紅,成為長龍店舖。




新財年有8幅賣地表住宅地推出,當中有2幅屬新增用地,均位於沙田小瀝源,並率先於下季 (4月至6月) 推出位於源順圍一幅「蚊型」地招標,打破今季政府停推地局面,而該地是新用地中最細,綜合市場估值約6.98億至9.66億,每方呎估值約4700至6500元,由於涉及投資額不大,料吸引各大中小發展商角逐。


沙田小瀝源源順圍 (沙田市地段第623號)「蚊型」住宅地,毗鄰小瀝源消防局,鄰近港鐵第一城站,地盤面積約2.48萬方呎,涉及可建總樓面約14.85萬方呎,共提供約280伙,是新財年2幅新增用地中最細。另外,項目須提供面積約7800方呎社福設施,包括中標財團負責建長者日間中心等。