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Grade A office occupancy drops for eight consecutive seasons

Total occupancy of Grade A offices contracted for eight consecutive seasons in the third quarter, breaking the record for the longest downward cycle in the history of Hong Kong real estate, property agency said.

The leasing volume of Grade A office space stayed flat at 1.3 million square feet in the third quarter, but the overall vacancy rate increased by another 0.2 percentage points to 11 percent, resulting in a new record high of 9 million square feet for the overall vacant floor space, the commercial real estate services company said.

The continued improvement in leasing momentum slowed down the rent decline in this quarter, which had fallen by 5.3 percent in the first half, while the decline in the third quarter was just 0.9 percent, the agency added.

Rents held stable for retail shops in the quarter as the market sentiment improved, but the vacancy rate of street shops in the core areas continued to rise.

Among them, the vacancy rate of Mong Kok jumped by 2.9 percentage points quarter-to-quarter to 18.9 percent. So far this year, street shop rents in Central, Causeway Bay and Mong Kok have all recorded increases, ranging from 0.7 percent to 3.2 percent, the agency stated.

(The Standard)


Bank rolls out green loans for Lam Tin flats

Bank of China (Hong Kong) (2388) will provide green mortgage loans for Wheelock Properties' Koko Reserve in Lam Tin which has received green building certification.

Buyers who successfully get the green mortgage loans will enjoy an additional HK$6,888 cash rebate, BOCHK said.

The lender joined hands with Sino Land (0083) to offer similar loans last month.

Koko Reserve, the second stage of the Koko Hills, will open sales on Sunday by tender, offering 28 three- and four-bedroom homes with areas starting at 700 square feet.

Koko Hills will also offer 100 flats for sale on the same day, of which 85 will be launched in the form of price lists.

Meanwhile, Centralcon Properties' The Arles in Fo Tan revealed its first price list of 268 homes at an average price of HK$18,888 per sq ft after discounts. The cheapest flat - a 33- sq-ft one-bedroom unit - costs HK$6.17 million after discounts, or HK$18,654 per sq ft.

The first batch of one- to three-bedroom flats range from 331sq ft to 945 sq ft. The project offers 1,335 homes, from studios to three-bedroom flats, with areas of 228 sq ft to 2,001 sq ft.

Also launching a new price list is Nan Fung Group's Lohas Park's phase 10 in Tseung Kwan O. The sixth price list offers 101 units ranging from 447 sq ft to 1,526 sq ft.

Together with the previous ones, a total of 183 homes will be put on market on Saturday.

This came as a property agency said that the net absorption of Grade A offices remained negative for eight consecutive seasons in the third quarter, breaking the record for the longest downward cycle in the history of Hong Kong real estate.

The leasing volume of Grade A office space stayed flat at 1.3 million square feet in the third quarter, but the overall vacancy rate increased by another 0.2 percentage points to 11 percent, resulting in a new record high of 9 million square feet for the overall vacant floor space, the commercial real estate services company said.

The luxury leasing market presented a mixed picture in this quarter, with rents on Hong Kong Island recording a rise of 1 percent, while Kowloon and the New Territories declined slightly by 0.1 percent and 0.8 percent, respectively, data from another property agency showed.

(The Standard)


Rare residential plot in Repulse Bay likely to draw strong bids from developers as outlook for luxury housing improves

Worth an estimated HK$900 million, the small plot is the first in Repulse Bay to come up for government tender in nine years

It has the potential to be developed into a handful of large luxury houses, say surveyors

A rare plot of residential land coming up for auction in Repulse Bay is likely to attract the interest of developers as the luxury housing market improves amid an easing of the coronavirus pandemic, according to market observers.

It is one of two parcels designated for low-density residential development to be sold in the Hong Kong government’s land sales programme in the three months to December, the other being in Tai Po.

“The residential plot in Repulse Bay would be the most sought after [of the two] by developers,” property agent said. “It is rare to see a residential site in Repulse Bay up for government tender.”

The site is small and likely to yield just a handful of large, luxury houses, surveyors said.

The last government land auction in Repulse Bay was in 2012 when Tai Cheung Holdings won a site near 110 Repulse Bay Road for HK$1.67 billion (US$210 million).

The Tai Po parcel, which is likely to yield about 200 flats, is valued at HK$1.4 to HK$1.8 billion, while the Repulse Bay site is worth around HK$900 million, according to another property agency. The homes built on the Tai Po plot may fetch HK$16,000 to HK$19,000 per square foot while those in Repulse Bay may go for HK$45,000 to HK$55,000 per sq ft.

The Tai Po parcel may attract five to eight tenders while the Repulse Bay one could see more than 10 developers bidding, surveyor said.

“After the pandemic has stabilised [locally] this year, the luxury housing market has gradually become active. The price of this land is not large in the luxury housing market,” surveyor said. “The price is likely to have an indicative effect on the luxury housing market in the Southern district.”

The plot covers an area of 21,097 square feet, with a gross floor area of about 18,987 square feet.

Another surveyor said that the site in Repulse Bay is “the most eye-catching [of the two]”.

The scale is small and can accommodate three to four houses, the surveyor said.

“As the project is located in a rare, traditional luxury residential section of Hong Kong Island, it has the potential to be built into super luxury houses,” another surveyor said.

The land, on South Bay Road, is surrounded by well-known developments such as Chinachem Group’s The Lily.

The exclusive Repulse Bay has counted many celebrities and tycoons among its residents through the years. They include actress Carol “Dodo” Cheng Yu-ling, singer Jacky Cheung, the late gaming magnate Stanley Ho and Cheng Yu-tung of New World Development.

One recent land transaction there was the private sale of 92 Repulse Bay Road in 2020. It went for HK$550 million to CSI Properties and Asia Standard International Group.

There were seven transactions involving lived-in homes in Repulse Bay in August, a relatively high number, compared to four a year earlier and zero in September of 2020 as the pandemic riled the market.

A house measuring 3,871 sq ft, with garden, sold for HK$438 million at Overbays of 71 Repulse Bay Road in July.

The Tai Po site is much larger, at 150,696 square feet, with an estimated gross land area of about 226,044 square feet.

Surveyor said that the neighbouring areas are mainly quiet, low-density residential developments such as Constellation Cove and Savanna Garden.

(South China Morning Post)


甲廈空置樓面達900萬呎 歷來最多





甲廈租金調整期 至少兩年





今年大手買賣 工廈佔38%




流標東涌商業地 重返今年賣地表



據發展局局長黃偉綸上周公布本財政年度第三季的《賣地計劃》時透露,希望視乎11月份中環海濱商業地的結果,再考慮推商業地招標,其中包括東涌新填海區的57區商業地。該地皮屬東涌市地段第45號,位於東涌迎東邨東面,亦是東涌新填海區首幅推出的私人發展用地,其地盤面積約13.3萬平方呎,目前坐落於「商業 (1)」地帶,以地積比率約9.5倍發展,預計提供約126萬平方呎商業樓面,並可興建樓高30至40層的商廈,可作酒店、辦公室及商場等用途。

東涌東站落成 料推動商貿發展



事實上,東涌新市鎮擴展區計劃分為東部及西部兩部分,當中東涌東的填海區,料提供多達918萬平方呎樓面面積,當中近6成,即約538萬平方呎樓面,將作辦公室用途。而於2014年由世茂集團 (00813) 及明發集團 (00846) 以約18.3億元投得東涌第53A區酒店地,該地皮可建樓面約61.05萬平方呎,每平方呎樓面地價約2,998元,並已經發展為東涌世茂喜來登酒店,及東涌世茂福朋喜來登酒店,共提供約1,200間客房。

另外,新世界 (00017) 早前亦投得赤鱲角機場的航天城項目第2期的營運權,並命名為「11 SKIES」,將可提供逾400萬平方呎的商業及娛樂設施樓面,項目於明年開始會分階段落成。據了解,項目總樓面達57萬平方呎,設3幢甲級寫字樓,而零售餐飲部分佔約266萬平方呎,將有逾800間商店進駐。















據土地註冊處資料,何文田窩打老道116號地盤,於上月以3.28億易手,買家為麗新發展,並以昊威有限公司 (WELLWAY LIMITED) 名義登記,公司董事包括麗新發展副主席周福安、麗新發展執行董事劉樹仁。

總投資10 建精品豪宅

原業主於11年10月以1.56億購入,並以榮多有限公司 (MUCH GLORY LIMITED) 名義持有,公司董事包括裕泰興家族成員羅守弘、區碧華及趙成基,目前帳面獲利1.72億。上址早於1956年落成,現為4座樓高三層住宅,據悉,可建樓面約4.61萬方呎,每呎樓面地價約7115元。








據城規會文件顯示,上述項目位於打磚坪街57至61號,現時屬「其他指定用途」註明「商貿」地帶,申請擬議略為放寬地積比率限制,以作准許的資訊科技及電訊業 (擬議數據中心發展)。

上址地盤面積約24337方呎,申請放寬地積比率約20%發展,由9.5倍增加至11.4倍,以重建為一幢樓高20層 (包括1層地庫) 的數據中心,涉及可建總樓面約277446方呎。




資料顯示,連同上述申請該廈已於過去3年、第3度申請不同的方案的重建,其中,前業主資深投資者鄧成波家族,去年11月申請重建一幢樓高31層的酒店,以提供1196間客房並獲批准;惟鄧成波家族於今年6月以9億易手,帳面蝕讓1.8億,新買家為萬國數據創辦人黃偉 (HUANG WEI),最新計畫作數據中心發展。




上址地盤面積約9978方呎,申請放寬地積比率約20%發展,由12倍增加至14.4倍,而建築物高度由主水平基準以上100米申請放寬至119.5米,即增加約19.5%,重建為一幢樓高30層 (包括1層平台花園及3層地庫) 的商廈,涉及可建總樓面約143689方呎。