国际财富管理机构瑞银 (UBS) 上周公布，提早近4年向新地 (00016) 预租尖沙咀广深港高铁香港段西九龙总站上盖 (下称高铁上盖项目) 9层写字楼约25万方呎楼面，作为新总部。不过，瑞银现时位于中环国际金融中心二期共14万方呎楼面，仍提早近两年续租，料涉及月租约1820万元，租金下跌近三成，租约至2029年，意味瑞银不会短期内撤出中环。
合约至2029年 延迟撤出中环
瑞银现时的香港总部位于国际金融中心二期，租用45楼半层、47至52楼全层，合共6层半，总租用面积共约14万方呎，租期至2024年。瑞银上周才公布，将进驻高铁上盖项目最高一座大楼的最顶9层，总楼面面积约25万方呎，其在香港的营运办公室会迁入新大楼，在2026年初开始进驻，提早近4年预租，令市场相信瑞银稍后将会撤出中环。
不过，瑞银在租用新写字楼的同时，已为目前中环总部作中长线部署，提早近两年续租国际金融中心二期的6层半楼面，租期由2024年7月至2029年6月，即瑞银进驻高铁上盖项目后，仍有一段时间会在中环维持办公地点。市场估计，国际金融中心二期的最新呎租约130元，估计上述续租楼面涉及月租约1820万元。
翻查资料，瑞银是国际金融中心二期2004年大厦入伙时首批进驻的租户之一，更是当时最大手的租户，向港铁 (00066) 租用14.6万方呎楼面，租期长达10年。由于当时香港经历完沙士疫情，商厦租金陷入谷底，据知首批租户的租金甚为「优惠」，料呎租只约30元 (扣除免租期等条款，呎租或低至不足20元)。
瑞银一直将总部设于国际金融中心二期，更在2013年续租，增租至9层楼面合共20.5万方呎，续租呎租已飆升2.5倍至约106元。其后由于全球经济增长放缓，一直有传瑞银会退租部分楼面，最终在2018年时只落实续租其中45楼半层、46至52楼共7层半，涉约16.5万方呎楼面，呎租调高到185元，租期至2024年。但受到新冠肺炎疫情影响，瑞银去年提早3年弃租46楼全层，令租用规模减至约14万方呎。以瑞银最新续租的呎租计，较2018年的185元，下跌29.7%。
预租高铁上盖未必準时交付
有业内人士认为，虽然瑞银已预租新写字楼，但该物业始终仍在建筑阶段，有许多不确定性因素，如未必能準时交付或装修有延误等，故瑞银仍续租中环国际金融中心二期，令日后搬迁时更具弹性。同时，目前商厦租赁市道低迷，提早续租可以锁定一个较低的租金水平。
资料显示，瑞银除国际金融中心二期外，还有租用上环李宝椿大厦和无限极广场，以及尖沙咀北京道一号共4幢商厦合共超过20层作为办公室，总楼面约29万方呎，部分租约在明年起逐步到期。
(信报)
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「小巴大王」马亚木沽铺，涉及中环德辅道中141号中保集团大厦地下C1D及C1E铺，面积约720平方呎，以约4,700万元成交。铺位现由中医诊所以月租11万租用，回报率约2.8厘。
据了解，马亚木早于2002年，以1,188万元购入该厦C1D、C1E及C2E合共3铺，较早前以2,900万元沽出其中一间，如今再以4,700万元沽出两铺，合共共套现约7,600万元。持货20年转手，获利约6,412万元，升值5.4倍。
(经济日报)
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上环南和行大厦 地铺连两全层放售
有代理表示，上环永乐街148号南和行大厦地下1号铺 (包括相关部分)、1楼及2楼全层写字楼现以「私人协商」形式放售，市场估值约1.5亿元，平均每平方呎价约1.1万元，总建筑面积逾13,503平方呎。
据了解，投资者廖伟麟年初以1.38亿元购入，惟早前取消交易，如今提价约9%再新放售。
(经济日报)
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黄竹坑9项目陆续登场 成新商贸区
今、明两年黄竹坑区将有不少新建商厦落成，包括今年中入伙的商厦 Landmark South，以及明年入伙的商厦 S22 等，区内未来几年将陆续有9个商业项目推出，涉及逾200万平方呎商业楼面，逐渐转型成为商贸区。
黄竹坑早年属于工业区，早在60年代开始发展兴建了大量工业大厦，并且以轻工业为主，后来政府改划成为商贸区，本身将推动配合邻近的海洋公园发展酒店业，不过随着港铁南港岛綫通车，加强跟金鐘的交通接驳，发展商由酒店转为兴建商厦，近年已经陆续转型。
增206万呎楼面 8成建商厦
目前区内至少有9个商业项目，合共涉及逾206万平方呎楼面，当中8个属于办公室项目，餘下一个则为港铁 (00066) 旗下黄竹坑站港岛南岸的上盖商场THE SOUTHSIDE。
最早登场相信是信置 (00083) 伙拍帝国集团合作的 Landmark South，于2016年以约25.3亿元，投得业勤街商贸地，并且建成楼高28层商厦，总楼面面积约28.5万平方呎，包括16层甲厦、3层零售空间及艺术展览厅，另提供佔地约9,000平方呎空中花园，最顶两层29及30楼，享特高楼底。
Landmark South 单位面积约1,497至约1.4万平方呎，每平方呎租金约30餘元，当中艺术发展局将于此开设一个约5,000平方呎的多用途艺术展览空间。
THE SOUTHSIDE预租3成楼面
另外，明年亦有更多商业项目登场，当中同由帝国集团发展的香叶道22号商厦早前命名为「S22 」，项目楼高28层，总楼面面积达16.35万平方呎，每层面积约7,600呎。
而港铁旗下黄竹坑站港岛南岸上盖商场THE SOUTHSIDE，亦于明年开幕，项目总楼面面积近51万平方呎，设有5层商铺楼层，有约150间商户，提供约235个停车场车位，属于区内最大商场之一，招租工作亦进行中，预租楼面已超过30%。
同时，会德丰地产在今年5月申请强拍黄竹坑道合隆工业大厦，项目佔地约7,830平方呎，若果以地积比率15倍重建，可建楼面约11.74万平方呎。
(经济日报)
更多Landmark South写字楼出租楼盘资讯请参阅：Landmark South 写字楼出租
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W50 高层户 1600万易手
近年黄竹坑新落成商厦造价理想，当中黄竹坑 W50 日前录得一宗成交，涉及高层两伙合共面积约1,155平方呎，成交价约1,600万元易手，转售帐面赚约160万元。
厂家续购保济工厦楼面
该两个单位为高层1及2室，合共面积约1,155平方呎，原业主分别于2018年及2020年约739.8万及约700万元购入，早前以合共约1,600万元沽出，平均呎价约1.39万元，属于理想呎价，是次转手帐面赚160万元。
至于工厦方面，随着楼价下跌，吸引本港厂家增持区内物业。已有过百年历史的「保心安药厂」今年初以近1.22亿元购入黄竹坑道28号保济工业大厦5楼及11楼两层物业，呎价约8,820元，目前至少持有该厦6层楼面，对上一次是于2013年以约5,500万元购入14楼全层。原业主于1985至1998年间入市，合共作价约484万元，现帐面劲赚约1.17亿元，赚幅24倍。
(经济日报)
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葵涌蓝田街全幢工厦放售
今年以来工厦交投活跃，业主趁势放售，葵涌蓝田街一幢工业大厦，佔地逾16700方呎，具重建价值。
有外资代理行代理表示，葵涌蓝田街30至38号全幢工厦，楼高3层，地盘面积约16721方呎，总楼面约35331方呎，重建总楼面约190619方呎，以政府补价及城规会最终审批为準，按现状形式连现有租约出售。
佔地逾16700方呎
该代理表示，区内周边落户多个重建项目，数据中心龙头企业万国数据在过去4年间，已斥资逾25.5亿购入位于蓝田街2至6号、打砖坪街57至61号及大圆街2号的三个地盘，作重建高端数据中心用途。另外，打砖坪街105至113号现为地标工厦iCITY，近期成交呎价约9300至10300元。
昌隆工厦意向价1.3亿
另一外资代理行代理表示，长沙湾长义街10号昌隆工业大厦地下3B单位及1楼全层，市值约1.3亿，该厦于1977年落成，建筑面积约9500方呎，物业全部获得承租，位处荔枝角港铁站D2出口，为单边夹角位置，地下门阔逾50呎，毗邻大型住宅、商场及商厦，如昇悦居、D2 Place 及亿京广场。
(星岛日报)
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沙田「蚊型」住宅地中标价高次标3.9%
上月底永泰地产伙拍万科海外以7.8638亿力压16个财团、投得的沙田显和里「蚊型」住宅地皮，地政总署昨日以不具名方式，公布其餘16份落选标价，出价介乎2.64亿至7.56575亿，楼面呎价约2955至8469元；而中标价较次标仅高出约3.9%，属险胜而回。
沙田显和里「蚊型」地于上月底共收到17份标书，由永泰地产伙拍万科海外以7.8638亿力压16个财团夺地，每方呎楼面地价约8802元，当时属贴近市场上限价，地政总署以不具名方式，公布其餘16份落选标价，从标价可见，首3标出价相当接近，介乎7.03亿至7.56575亿，每方呎楼面地价约7869至8469元。
次标出价约7.56575亿，与中标价相差约2980.5万，每方呎楼面地价约8469元，首标较次标仅高约3.9%，可见竞争十分激烈。紧随其后的投标价为7.17亿，相差约6938万，首标较高约8.8%，每方呎楼面地价约8026元。
最低出价仅2.64亿
值得留意的是，有财团以「执鸡」心态超低价入标，有2标出价不足3亿，最低标出价仅约2.64亿，与中标价相差约5.2238亿，差幅达约66.4%，楼面呎价仅约2955元。除中标的永泰地产及万科海外，其餘入标发展商包括长实、新地、信和、嘉华、佳明、鹰君、香港兴业、远东发展、汉国置业、英皇、中信泰富、中国海外等，而百利保伙拍富豪酒店入标，宏安则伙拍其士以合资方式参与竞投。
沙田显和里地皮，毗邻显径邻里社区中心，东面为田心消防局，北面为居屋云叠花园，位于港铁大围及显径站之间。项目地盘面积约14890方呎，可作纯住宅或商住形式发展，以纯住宅发展涉及可建楼面约89339方呎，是今季卖地表中最细的住宅地。
(星岛日报)
旺角商住地改划地建会支持
城规会早前就《旺角分区计画大纲核准图》提出修订建议，放宽区内多个商业及住宅地带的发展限制，包括将区内商业用地的地积比率由12倍上调至15倍，同时放宽建筑物高限至115米等。有关修订于諮询期收到5份申述，其中香港地产建设商会表态支持，惟香港规划师学会及保育人士均表示反对修订。
规划师学会：导致交通挤塞
地建会认为，原有大纲图对区内地盘施加限制，而是修订为私人发展商提供足够诱因，并鼓励参与更多社区重建项目，而且修订对城市设计及规划有利，故对有关修订表示支持。
香港规划师学会则指出，有关放宽地积比率及高度限制修订，不符合《香港2030+：跨越2030年的规划远景与策略》的框架，由于大增商业用地发展密度后，将会导致该区交通挤塞、人流过多等问题。
是次修订，主要包括删除对商业地带的12倍地积比率限制，在建筑物条件许可下地积比率增至15倍。并将界限街与太子道西之间，及旺角道与亚皆老街之间邻近港铁站的「商业」地带，建筑物高度限制由130米 (主水平基上．下同)，增加至160米；并把弥敦道两旁其餘的「商业」地带的建筑物高限由110米提高至140米。
把2幅太子道西、洗衣街、花墟道及园圃街的用地和西洋菜南街、登打士街、花园街及水渠道之间的用地由「住宅 (甲类)」地带，建议改划为「其他指定用途」註明「混合用途」地带，放宽目前只有最低3层商业用途的限制，允许更高的设计灵活性，而且建筑物高度限制亦增加15米至115米。另外，该区的住宅地亦有相应调整，修订「住宅 (甲类)、(戍类)」地带的「备註」，「住宅 (甲类)」及「住宅 (甲类) 3」的最新地积比率由7.5倍，增加至最新的8.5倍，以及纳入「住宅 (甲类) 4」。而且建筑物高限由100米，上调至115米。
(星岛日报)
Home prices to fall 5pc 'even if border reopens'
Home prices in Hong Kong will still fall 5 percent next year even if the border with the mainland reopens, DBS Hong Kong said yesterday.
Its forecast came as Sun Hung Kai Properties (0016) rolled out a new project ahead of today's policy address in a move rarely seen by developers, who usually wait to see if any new polices will be revealed in the address before launching new developments.
Residential property prices in Hong Kong are down about 8 percent year-to-date and 11 percent from last year's peak, said Jeff Yau Cheuk-man, director of research at DBS Hong Kong.
Mortgage interest rates may rise to 3.5 percent next year, further affecting the property market, and as the supply of new flats increase, prices are expected to fall by 5 percent next year, he said.
Yau suggested the government relax property curbs to stop falling prices from hurting consumption.
He said talent will be attracted to the city if the government relaxes stamp duties, and the potential border opening will help stimulate market demand, but added that even if the government relaxes stamp duties, property prices will not necessarily rebound immediately.
Meanwhile, SHKP unveiled the first price list for Park Yoho Bologna in Yuen Long, offering 50 flats, with the cheapest priced at HK$3.91 million.
The discounted average price of the flats is HK$13,088 per square foot, which is not only the lowest starting price for new projects this year but also 14 percent lower than the first batch of flats at Park Yoho Napoli, which was launched in September 2018 by SHKP at an average price of HK$15,211 per square foot after discounts.
The first batch in Park Yoho Bologna includes 5 studios, 23 one-bedroom units, 5 two-bedroom units and 17 three-bedroom units, with areas ranging from 279 to 674 square feet.
In other news, Longfor (0960) said it has sold 582 units in Upper RiverBank since 2019 and there are still 85 unsold flats, which are all four-bedroom units. The developer will sell the remaining units by tender at an intended price of about HK$40,000 per square foot or more.
(The Standard)
Easing of cooling measures is not a cure-all for Hong Kong’s struggling property market, say analysts
Any relaxation of the government’s cooling measures will only slow down the decline in homes prices but not reverse the trend, says DBS Bank analyst Jeff Yau
Chief Executive John Lee is expected to unveil many measures in his inaugural Policy Address to revive Hong Kong’s struggling economy
The potential easing of cooling measures anticipated in Chief Executive John Lee Ka-chiu’s maiden Policy Address will stimulate housing demand but not necessarily lead to a quick rebound in prices because of the prevailing headwinds, according to analysts.
Lee is expected to announce several groundbreaking measures in his address on Wednesday, aimed at reviving the city’s battered economy. Property developers and agents have been lobbying the government to scrap legacy stamp duties.
Analysts have not ruled out the possibility of the government relaxing some of its measures to cool the property market in the event of a sharp correction. However, its impact on steadying prices will be felt gradually, they added.
“After the relaxation, it does not mean the housing market will rebound tomorrow,” said Jeff Yau, group research executive director at DBS Bank (Hong Kong). “I believe the extent of the decline will slow down.”
If the cooling measures are dropped, the price decline may slow down but the trend will not be immediately reversed, he added.
The government introduced a series of extra stamp duties and taxes on residential property transactions since 2010 to curb non-local and speculative housing demand. The first was the Special Stamp Duty (SSD) in November 2010 to curb speculation, followed by the Buyer’s Stamp Duty (BSD) in October 2012 to suppress demand from non-local buyers. A year later the Double Stamp Duty (DSD) was introduced, which is applicable to multiple property owners. Pressure has now mounted on these taxes as the city faces economic headwinds.
“BSD, SSD and DSD, do they need to exist at this moment?” Yau asked.
He also said he expected Hong Kong home prices to fall 5 per cent next year, joining analysts from Goldman Sachs, Morgan Stanley, HSBC, and property agencies who have made similar forecasts.
Goldman’s predictions have been the most dire. It expects home prices to plummet by 30 per cent by the end of 2023, as sharply increasing interest rates continue to pressure affordability and repel investors from the market.
“I don’t think [prices] will immediately rebound sharply if [cooling measures] are withdrawn,” said Chong Tai-leung, associate professor at the Chinese University of Hong Kong.
Chong said the extra stamp duty made homeowners hesitant when deciding to sell and failed to tame the growth in home prices.
“I don’t think that these cooling measures have been effective,” said Chong. “It hinders the normal operation of the property market … so I have always recommended scrapping them.”
Chong said transaction volume has shrunk dramatically after the imposition of cooling measures, dampening the livelihood of many property agents and market players.
Chong expects transactions to improve if cooling measures are scrapped. “The entire industry chain, be it transactions or renovations, will pick up. The whole economy will recover.”
He said this requires a Chief Executive bold enough to scrap the cooling measures.
“The cooling measures were demand management measures introduced 10 years ago,” said Victor Lui Ting, deputy managing director at Sun Hung Kai Properties (SHKP). “The amount of stamp duty levied by the government in the past few years is not large. I believe the government will make adjustments balancing various parties’ views.”
Partial relaxation of the cooling measures would show that the government is adapting to the needs of the times, he added.
SHKP, Hong Kong’s biggest developer by value, priced the first batch of 50 flats at Park Yoho Bologna in Yuen Long at HK$13,088 per square foot after discounts on Tuesday.
The price is 26.9 per cent lower than the HK$17,898 per square foot for the second phase of Grand Mayfair launched in May, according to data from a local property agency.
(South China Morning Post)