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60 Kowloon flats to go on sale

The Aperture at 11 Ngau Tau Kok Road in Kowloon will open show flats to the public on Saturday and the first price list of over 60 flats will be on offer soon, the developer Hang Lung Properties (0101) said.

The project will offer a total of 294 flats ranging from 320 to 771 square feet, including 85 one-bedroom units and 145 two-bedroom units.

Meanwhile, in Kai Tak, 487 units of Monaco One have been sold, accounting for nearly 99 percent of the total 492 flats offered, said Ricky Wong Kwong-yiu, managing director of Wheelock Properties.

The second phase of the project, which will provide 559 flats, is expected to be granted pre-sale consent soon, and sales will kick off early next year, Wong said.

In Kennedy Town, Kennedy 38 was at least 26.5 times oversubscribed for 40 flats available in the second round of sales after the developers received around 1,100 checks.

Separately, property agency expects that the price of Hong Kong's luxury homes to rise by 5 percent in 2022, slower from this year's estimation of an 8 percent growth.

The real estate consultancy said the slowdown of the mainland economy coupled with the sluggish Hang Seng Index has dampened the growth of property prices, but luxury property prices are still at historic highs.

In other news, Hong Kong lost its seat in the top 10 most attractive cities in the world for the first time, according to Mori Memorial Foundation, beaten by Tokyo, Singapore, Shanghai, Melbourne and Sydney in the Asia-Pacific region.

(The Standard)


Veteran investors are snapping up Hong Kong retail property assets in sign market slump is ending, a property consultancy says

Local veteran investors accounted for all of the 15 major retail transactions in the third quarter, a property consultancy said, up from 20 per cent in the preceding three months

Volume has reached HK$22 billion this year through October 25, surpassing the HK$14 billion recorded in all of 2020 for deals above HK$100 million threshold

Hong Kong’s retail property assets are attracting a slew of domestic individual buyers, suggesting the year-long market fallout induced by the Covid-19 pandemic and recession may be bottoming out, according to industry experts.

Local investors accounted for all of the 15 retail transactions last quarter, according to a property consultancy, based on deals above the HK$100 million (US$12.8 million) threshold. They made up only 20 per cent in the second quarter and 80 per cent in the first quarter, with corporate and institutional investors picking up the rest.

Investors including Chang Miguel Yen Shee and Larry Chan Tzuenn Man, “big spenders” who have kept a low profile over the last couple of years, have snapped up retail assets in some core locations, the property consultancy said in a report on Wednesday.

Investors are “attracted by the potential for capital value growth after the borders reopen next year”, the property consultancy said in a report. “The return of these veteran investors suggests that the retail market is now close to the bottom of the cycle.”

Retail investment transactions have reached HK$22 billion this year through October 25, the property consultancy said, citing data from Real Capital Analytics using deals of the same threshold value. They amounted to HK$14 billion in 2020 and HK$30 billion in 2019.

The property consultant said that November and December are traditionally quiet months for the broader investment market in the city. Activity should continue to gather momentum next year, the consultant added.

Chang, known in the local market for his Taiwan origins and plastics business, bought a prominent shop in Central’s Wheelock House occupied by Citibank for HK$710 million in August, the property consultancy said in its report.

Chan, known for his jewellery business, paid HK$110 million in July for a shop on Nathan Road in Mong Kok. Peter Yip Mow Lum, chairman of local brokerage Bright Smart Securities, spent HK$525 million in August on a shop on Lockhart Road in Causeway Bay.

Another property consultancy also noted a busy market carrying into this quarter, with several sizeable deals in noncore areas. New World Development reportedly sold a basket of shops at Mei Foo Sun Chuen in Lai Chi Kok for HK$455 million to private investors Raymond Tsoi Chi Chung and David Chan Ping Che.

This year’s transactions represent a welcome sign of recovery as the city’s government started to ease social-distancing rules. The market cracked under months of social unrest in 2019, before the onset of the coronavirus pandemic deepened the fallout.

While the city has maintained its strict quarantine requirements for inbound visitors, local residents will be allowed to enter mainland China without quarantine starting from early December, the Post reported earlier this month.

The property consultancy expects that the next six months to be “a great time to invest” for several reasons. They include the Northern Metropolis plan, unveiled during the policy address last month, changes to local shopping habits that benefit neighbourhood retail properties and hopes for border reopening as early as February next year.

“Investors with defensive strategies should consider neighbourhood retail or retail podium assets,” it said in today’s report. “Investors with longer investment horizons of over five years should explore retail assets in the new Northern Metropolis area to capture the area’s longer-term growth potential.”

Occupiers with long-term occupancy plans should consider purchasing properties as pricing levels are currently attractive, it added.

(South China Morning Post)















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京城大廈兩層連廣告位 3.46億放售


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土地註冊處資料顯示,新蒲崗大有街萬迪廣場9樓F、G、H舖,面積約4,534平方呎,本月初以3,860萬元易手,呎價約8,513元。原業主為教協 (香港教育專業人員協會),其於今年3月以約5,942萬元購入,持貨約8個月,帳面蝕讓2,082萬元,蝕幅約35%。不過,若連釐印費 (約253萬) 計,估計蝕讓約2,335萬元離場。

續售名下物業 已套近2.7