黄竹坑新工厦恒云国际中心低层以495万易手，原业主5年前一手购入现蚀一半离场。

资料显示，黄竹坑香业道44号恒云国际中心录得成交，涉及3楼11室，以495万元成交。单位面积约763平方呎，呎价约6,487元。翻查资料，原业主于2018年，以一手购入单位，涉984.3万元，持货6年转手，蚀489.3万元，蚀幅高达5成。

2018年楼花 曾呎价1万拆售

恒云国际中心前身为傲南广场，属全新工厦项目，投资者于2018年以楼花形式拆售，当时呎价约1万餘元起，而最顶层3层单位，更以4.5亿元沽出，呎价高达1.8万元。惟近年工业物业呎价明显回调，该盘近月录得买卖成交，均现大幅蚀让，如去年尾一个中层单位，面积约610平方呎，以370万元沽出，成交呎价约6,066元，帐面劲蚀465.7万元，单位贬值56%。

另商厦租务方面，消息指尖东康宏广场高层9室，面积约1,213平方呎，以每呎约32元租出。

(经济日报)

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Hong Kong property: discounted Mid-Levels luxury homes entice buyers amid loan distress as rates outlook improves

Two Mid-Levels West assets changed hands recently at a big discount, a sign that deep-pocketed investors or homebuyers are coming back to the market

Sentiment has improved amid speculation on more market-friendly measures, and popular view that global rate-hike cycle has peaked

Hong Kong’s deep-pocketed investors and homebuyers have been snapping up foreclosed luxury homes at great bargains in recent transactions, suggesting an increase in appetite as the global interest-rate hike cycle comes to an end.

A 1,301-square foot unit at Azura on 2A Seymour Road changed hands at HK$37 million (US$4.73 million) last week, according to people familiar with the matter. The property was valued at HK$45 million. A three-bedrooms unit at Alassio on 100 Caine Road was sold for HK$34.8 million, or about 20 per cent below its asking price.

Both properties are located at Mid-Levels West and developed by Swire Properties.

Foreclosed properties, those seized by banks due to missed mortgage repayments, have added to active transactions of luxury homes in recent months, an auctioneer said. A multi-year stock market slump and higher interest rates are the likely source of financial distress.

“Veteran investors in the property market are quick to act, and those who are cash-rich will come out to buy now, but the bargains have to be big,” the auctioneer said. “There are more enquiries for these properties after the recent easing measures and the view that the rate-hike cycle has peaked.”

The Hong Kong Monetary Authority has lifted its base rate by 525 basis points in total since March 2022 in lockstep with the hikes by the Federal Reserve, while the city’s commercial banks raised their prime rate five times by a total of 87.5 basis points. An unprecedented slide in the Hang Seng Index has erased about US$2 trillion of equity wealth since early 2021.

Still, there has been a turnaround in sentiment. The stock market has rebounded this month, and there is hope that Financial Secretary Paul Chan Mo-po will deliver more surprises during the budget on February 28, including undoing the curbs to combat excessive speculation introduced in the early 2000s, to follow up on the incentives in last year’s policy address.

In another recent transaction, a 420-sq ft unit at The Arch in Tsim Sha Tsui was sold at HK$11.25 million last week, or 25 per cent below the asking price. The property, owned by former chairman of Goldin Financial Holdings Pan Sutong, was seized by lenders last year, according to a local media report.

Banks sell foreclosed properties according to valuations pegged to recent secondary-market home transactions, another auctioneer said. That market has been lukewarm as transaction volume and prices have weakened.

Property transactions shrank last year to the lowest level in decades. Sales totalled 29,690 units worth a combined HK$251.2 billion last year, according to a local property agency. The number of deals fell by 6.6 per cent to a 28-year low, while value shrank by 11 per cent to a seven-year low.

While banks sell seized properties at a much lower price, they will not incur losses, according to the auctioneer. At best, they will recoup their loans and gain a small profit,”. Current low unemployment rate also indicates that homebuyers generally can still afford to repay their loans.

“More end-users are looking for foreclosed mass residential properties, as valuations of these properties have been discounted by almost 30 per cent during the past three months,” the auctioneer said. “[Properties] from some popular housing estates can be sold quickly as the supply is limited.”