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Land sale targets 5,400 homes in new quarter

Land supply from July to September will provide 5,400 residential units in total, says the Secretary for Development Michael Wong Wai-lun, a relatively high level in a single quarter in recent years.

The Development Bureau announced the July-September land sale plan yesterday.

The government will launch tenders on two residential sites, at 79 Broadcast Drive in Kowloon Tong and the junction of Lau Yip Street and Chung Yip Road in Yuen Long, offering 200 units. Surveyors estimated the valuation of the two sites at HK$1.51 billion.

Compared to 980 units in the previous quarter, the government land supply is down 80 percent.

Another 1,150 units will come from the Urban Renewal Authority's Bailey Street/Wing Kwong Street redevelopment.

The Tung Chung Traction Substation project of the MTR Corporation (0066) will contribute 1,600 units.

Four private development projects, which are expected to complete the lease modifications, will provide 2,450 units. The four projects include three in the New Territories and one in the urban area, said Wong.

The largest one could offer 1,800 residential units.

Together with the 1,650 units from April to June, the total land supply was 7,050 units, reaching 55 percent of the government target.

Wong is cautiously optimistic about meeting the target of providing 12,900 units in 2021/2022.

The proportion of government, MTR and URA projects accounting for the overall land supply is only 55 percent for the new quarter.

No commercial sites will be launched as two large-scale sites - on Caroline Hill Road in Causeway Bay and commercial site 3 of the New Central Harbourfront - are expected to have a tender result in November.

The government is considering adjusting the ratio of offices and malls at a commercial site in Tung Chung which had been rejected as the tendered premiums did not meet the reserve price, said Wong. It may be launched in the fourth fiscal quarter.

The government is rezoning five commercial sites in Kowloon East for residential use and Wong expects it could offer 6,000 units after rezoning. The sites may be launched in the next fiscal year.

On the Land Sharing Pilot Scheme, Wong pointed out that 10 projects are being discussed and expects a consortium will apply officially this year.

In response to the hot property market, Wong said the government will continue to launch land to meet the demand.

(The Standard)


HK's southern district enjoys surge in flats

Kerry Properties (0683) and Sino Land (0083) named The Southside phase II as La Marina, offering 600 units.

Located above the Wong Chuk Hang Station, La Marina composes of two residential buildings and provides a total of 600 units.

The saleable area ranges from 320 square feet to 1,901 sq ft, with anywhere from one to four-bedroom units.

Although it is still pending the pre-sale consent, the developers said the project will be launched right after the approval and the pricing will refer to the properties in the same district.

Meanwhile, the transaction of luxury flats in the Southern District was driven by the sales of South Land in Wong Chuk Hang.

A 1,949-sq-ft flat in Marinella is selling for HK$91 million, or HK$46,691 per sq ft - the highest in the project.

The four-bedroom double suite unit was purchased by the original owner at HK$53.9 million in 2011, with the unit price surging 68 percent over the last decade.

A 1,409-sq-ft flat in Oasis Kai Tak was sold for HK$52.46 million, or HK$37,230 per sq ft, after the former potential buyer cancelled the deal.

The transaction record showed that the unit was sold for HK$51.43 million in May. However, the previous buyer didn't sign the provisional agreement for sale and purchase and forfeited the deposit.

This new transaction price is approximately 2 percent higher than the last transaction.

Eric Ng Kam-lun, known as Ken Sir, bought an 818-sq-ft unit in The Harbourside at HK$24.5 million. The founder of Modern Education had to pay for a 4.25 percent Ad Valorem Stamp Duty of over HK$1.04 million. He was able to pay a lower stamp duty rate due to his "first home buyer" status.

(The Standard)


Hong Kong’s housing land supply shrinks to 10-year low, setting the stage for home prices to spiral in one of the world’s costliest cities

The city’s government will release two sites capable of accommodating 200 flats for sale in the fiscal second quarter starting on July 1

Total housing supply could top 7,050 units this fiscal year, inclusive of 5,200 new flats and 1,650 units from the first quarter

Hong Kong’s supply of residential land is shrinking to a 10-year low, as the local government runs out of usable plots for building homes, in a situation that may set the stage for property prices to rise further and fuel public grief in one of the world’s least affordable urban centres.

The city’s government will release two sites capable of accommodating 200 flats for sale in the fiscal second quarter starting on July 1, according to Hong Kong’s Secretary for Development Michael Wong, similar to the same period last year when land supply was just enough to build 160 flats.

With the dismal supply, local authorities will have to turn to the subway operator MTR Corporation, the Urban Renewal Authority (URA) and private developers for new homes to meet demand in the city of 7.5 million people. Total housing supply could top 7,050 units this fiscal year, inclusive of 5,200 new flats from other sources and 1,650 units from the first quarter, bringing the total to about 55 per cent of the target of 12,900 apartments.

“It is shocking” for land supply to plunge to such a level, analyst said, adding that developers could slow their conversion of farmland or industrial parcels into housing during bull markets to create supply volatility. “It is not a good sign as we are heavily reliant on private developers who are primarily profit-driven, instead of helping the government meet the housing supply target.”

“Hong Kong’s sky-high home prices will further frustrate the younger generation, and may even drive some to leave the city as their chances of getting on the housing ladder remains slim,” the analyst said.

Rising property prices increase the cost of acquiring land, and raise the payable land premium for converting unused land into housing, which all add to catalogue prices in one of the priciest cities to live and work in on Earth.

The first site to be released is in Yuen Long. The second plot is at 79 Broadcast Drive in Kowloon Tong, currently occupied by the RTHK Education Television Centre. The two plots are expected to yield a total of about 200 flats, valued at up to HK$2.31 billion (US$297.5 million), according to property agency.

The MTR, URA and private developers are expected to provide 5,200 flats in the three months starting in July, comprising 1,600 units by the MTR in Tung Chung, 1,150 by the URA in To Kwa Wan and 2,450 by private developers in the New Territories and elsewhere.

Hong Kong’s housing affordability had been described by China’s central government as a “deep-seated problem,” one that prompted Chief Executive Carrie Lam Cheng Yuet-ngor to raise the allocation of the city’s land supply for public housing to 70 per cent in 2018, from 60 per cent.

Still, that increase in land supply failed to stop the upwards spiral of median home prices, which are poised to touch a record over the next two months, after briefly stumbling last year amid the coronavirus pandemic.

The prices of lived-in homes extended a five-month rally in May and were at their highest since July 2019, according to Rating and Valuation Department data. They were also within 0.8 per cent of a historic high recorded in May 2019, before anti-government protests kicked off in the city.

The supply of Hong Kong's private housing land increasingly relies on developers, who contribute to 2,450 homes, or 45 per cent of the total in the fiscal second quarter, said Ryan Ip, head of land and housing research at the Our Hong Kong Foundation think tank.

The proportion of supply controlled by the government is only 55 per cent, lower than the 67 to 80 per cent in the last three years, reflecting the diminishing supply of mature land held by the government, Ip said.

“If the government can provide 5,400 units per quarter, home prices can stabilise,” said Wheelock Properties’ managing director Ricky Wong, adding that stable prices is “the ideal situation for everyone in the city, not just Beijing’s wishes.”

“The housing market has been recovering and strong demand can absorb the supply and the market will be in equilibrium,” Wong said.

For now, the city government is “cautiously optimistic” about meeting the supply targets, the Development Secretary Wong said during a press conference.

(South China Morning Post)





代理指出,工廈上半年錄約4567宗成交,料下半年租售價升約10%。 代理稱,上半年寫字樓錄579宗買賣,較去年同期升1.15倍,料下半年租售價升約5%。該行於下半年將擴充人手約15%至20%,以該行涉700人員計,涉約140人,同時逐步擴充分行數量。








兩商場回報料四厘變八厘 「磁帶大王」陳秉志13億承接斥巨資翻新


















至於鄰近九龍灣、牛頭角之間的九龍灣行動區、臨澤街8號啟匯 (前稱傲騰廣場),去年獲批出建築圖則,並將重建為商廈,涉約68萬平方呎總樓面。項目於2018年由「重慶李嘉誠」張松橋及資本策略 (00497) 等斥約80億元購入,樓齡約10年。

事實上,比鄰的的嘉里 (九龍灣) 危險品貨倉,於2012年曾獲批重建為216個豪宅單位。不過,嘉里 (00683) 於2019年底向城規會申請將地積比率由9.5倍放寬至11.4倍,擬建26層高商廈,涉及總樓面約52.7萬平方呎。









九龍灣德福大廈低層 1500萬售









保柏洽租觀塘海濱匯 呎租約25

原租鰂魚涌九龍灣商廈 搬遷省租質素升



較高峰呎租33 跌逾2
































工商舖低潮期結束 下半年料漲價15%







上述兩項物業由資深投資者「舖王」鄧成波家族於2016年底斥資約12.96億元向領展 (00823) 購入,賬面微利離場,料須蝕使費。



東涌商地延至年底售 改寫字樓比例

政府在2021至2022財政年度 (下稱本財政年度) 第一季度 (4月至6月) 接連推售銅鑼灣及中環兩幅大型商業用地後,於第二季度 (7月至9月,下稱下季) 無計劃推出更多商業地皮,原先打算在下季推出的東涌第57區商用地,有機會延至今年底才招標。

東涌第57區商業地皮原屬本財政年度賣地表中上半年度 (即4月至9月) 供應的用地,最終未有在季內推出。發展局局長黃偉綸解釋,該東涌地皮正進行內部考慮,或調整辦公室與商場的樓面發展比率,不排除於第四季才登場。