核心区甲厦租金急下滑，中环中心一个低层单位，于交吉一个月后，以每呎约43元租出，较旧租金急挫33%，创今年以来该厦呎租新低，回报更低见1.2厘水平，业内人士指，由于疫情走势反覆，加上甲厦市场正处供应高峰期，料甲厦租金持续受压。
市场消息透露，中环中心22楼3室，建筑面积1651方呎，最新以每呎约43元租出，月租约70993元，上址上一手租约于2019年5月以每呎约65元租出，至今年5月届满，故交吉仅一个月即再度租出，租金急挫约33%。
属今年以来呎租新低
据大型代理行资料显示，该甲厦于今年以来频录承租，租金介乎每呎55至85元，故上述创该甲厦今年以来新低水平，该厦低位租金需追溯至去年12月，为该厦低层10室，建筑面积1810方呎，当时以每呎约40元租出，月租约7.24万。
租金回报仅1.2厘
据业内人士指出，上述全层由资深投资者蔡志忠拆售，业主于2018年购入该单位，当时正值市场高峰期，购入价约6864.9万，每呎造价达41580元，以最新租金计，租金回报仅约1.2厘，实属偏低水平。
代理亦指出，上址虽邻近升降机，惟因位处低层，景观为楼景为主，最新租金属市价水平。该名业主为厂家，本身为表带生产商，并涉资物业投资，先后购入大潭浪琴园、中半山麦当奴大厦等豪宅，并持有上环德辅道西46至50号乙厦西区中心大厦多个单位。
据业内人士指出，中环中心于商厦市况高峰期时拆售，当时备受投资者及用家追捧，令售价水涨船高，惟及后受疫情等负面因素打击，令市况急转直下；资料显示，该厦早前频录减租个案，其中，由外号「小巴大王」马亚木持有的中环中心中层单位，建筑面积约4233方呎，早前以每呎约80元续租，较旧租金下跌约15%。
此外，代理亦指出，虽然第五波疫情减退，但企业对承租写字楼的态度仍然审慎，空置率仍偏高，令租售价持续受压。该代理又指，近日疫情有反弹迹象，加上通关前景未明，相信写字楼市场在短期内仍然难以快速反弹復甦。

(星岛日报)

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上半年工商铺录2655宗 代理：买卖按年跌28.5%

有代理指出，今年上半年工商铺录约2655宗买卖，按年跌28.5%，成交金额录约497.1亿，按年跌31.6%。不过本港疫情稳定，市场憧憬有望通关，故料下半年工商铺市况稳步上扬，成交量有望达2900宗，较上半年升约一成。
该代理指，对于美国加息对市场影响，该代理认为，市场对加息早已消化，加上本港息口仍处低水平，本港亦不必跟随美国加息步伐，故对后市仍感乐观。
疫情稳定憧憬通关
另一代理称，上半年甲厦市场走势疲弱，租金及售价分别跌3%及1.7%，上半年50大甲厦录39宗买卖，按年急挫6成。然而，随甲厦租售价从高位大幅回落，该代理认为甲厦市况已「见底」，料下半年租售价回升3%至5%。
料后市稳步向上
另一代理表示，工厦市场上半年录1573宗成交，按年跌约21.2%，惟期间租金升约1.4%，因环球正处高通胀，工厦吸引投资者入市，料下半年工厦成交1700宗，较上半年升约一成，租售价亦升约5%。

另一代理指，受第五波疫情影响，上半年铺位录655宗成交，按年跌32.5%，成交金额涉149.6亿，按年跌23.2%，惟受消费券等利好因素推动，料下半年核心区铺市走势平稳。

(星岛日报)

外资代理行指上半年甲厦租金跌1.7%

有外资代理行指出，儘管今年第二季，甲厦整体租金于上半年跌1.7%，惟第二季跌幅0.8%，较首季0.9%收窄，然而，随着待租楼面回归市场，目前整体甲厦待租率高达13.8%，属20年来新高，未来料继续上升，至年底高达16%。租客方面，仍然以银行及金融行业主导。
该行代理总结，甲厦于今年第二季录负吸纳量17.69万呎，整体待租率按季升0.2%，至13.8%，预料年底升达16至17%水平，属历史新高。以租赁面积计算，银行及金融行业佔29.2%，其次专业服务及房地产佔17.5%，按季增7.6%，消费及制造业亦趋活跃。
次季负吸纳量17.69万呎
该代理表示，踏入第二季，写字楼整体租金按季回落约0.8% (首季跌幅0.9%)，上半年累跌1.7%，次季以港岛东及九龙西租金跌幅较大，按季分别跌1.6%及2%，各区平均租金从2019年4月份高位累跌逾27%，料下半年租金跌幅介乎1至2%，核心区受银行和金融机构追捧，引领復甦。
该行另一代理指，展望未来，个别地区租金有机会回升3%至5%，零售及餐饮业铺租下半年将升1%至5%，抵销1至6月份跌幅，全年整体租金平稳发展。

(星岛日报)

外资代理行：下半年租务改善 港岛租金料升

近日整体甲厦租务活动有改善，有外资代理行认为，随着经济正在恢復，下半年港岛区甲厦租务反弹，租金料升。

据该行每月商厦租金走势资料显示，中环最优质商厦按月升0.3%，每呎约135元，而中环整体呎租按月微升，按年升2.6%，反映租金较稳定。其他各商业区升跌不足1%，整体变化不大。尽管核心地段的写字楼租金有见底的迹象，但北角和黄竹坑等地点的写字楼租金仍然面临压力，空置率处于高水平。

近1个多月来，核心及非核心区租务均有增加，中环方面，国际金融中心二期2.75万平方呎楼面，获美资投资银行富瑞金融集团 (Jefferies) 租用，该公司原租用同区长江集团中心，趁租金下跌转租国际金融中心二期。据悉，有关楼面原由野村证券租用，集团早前弃租。另外，另一家美资机构景顺投资 (Invesco)，租用怡和大厦约3.1万平方呎楼面，机构原租用同区花园道3号 ，亦属办公室升级。

The Henderson 2万呎获预租

另一宗较具指标成交，为明年落成的 The Henderson 1层半楼面，涉及逾2万平方呎，获一家美资机构租用。该机构目前办公室位于金鐘太古广场二座，楼面约2万平方呎，是次搬迁可作少许扩充，而最重要是可升级至中环全新超甲厦。市场人士估计，是次成交呎租约130元。

至于非核心区，则录得今年市场最大宗租务，涉及鰂鱼涌太古坊二座低层及中层各3层楼面，合共6层楼面，以每层面积约2.2万平方呎计算，涉逾13万平方呎。按面积计，为疫情后港岛区最大手甲厦租务成交个案。新租客为大型中资机构中信银行 (国际)，集团原租用太古坊的德宏大厦多层，是次搬至同属太古地产 (01972) 旗下物业，而太古坊二座为全新甲厦，质素大幅提升，楼面上未有扩充。

遥距工作普及 共享空间需求升

有外资代理指，共享空间需求上升，如一家网上旅游中介公司，原租用中环商厦，现转租铜锣湾商厦共享空间。该行指，一些规模较大的公司对共享工作空间的租赁需求强劲，以实现更大的灵活性。在灵活和遥距工作安排日益普及的推动下，预计更多规模大的公司将採用共享工作空间，这将成为未来12个月值得注视的趋势。

整体港岛区租务上，该行指，疫情较年初为稳定，经济亦正在恢復，预计今年下半年港岛区甲厦租务可反弹，相信全年甲厦租金可升5至10%。

(经济日报)

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东九新商厦 吸引搬迁

九龙区方面，有外资代理行指，东九龙新式甲厦质素理想，吸引租客搬迁，需求甚高。

该行指，随着第5波疫情得到控制，九龙区写字楼市场的租赁活动重拾势头，5月面积超过1万平方呎的中型写字楼交易不断增加。九龙东继续成为市场焦点，需求主要来自电子和制造业。

啟德配套渐佳 长远睇好

新供应项目甚多的东九龙，录大手预租。消息指，新地 (00016) 观塘巧明街98号，当中8万平方呎楼面，获积金局租用，呎租料约30元。据悉，该租客原租用不同地区写字楼，搬迁可作整合业务，以及为办公室升级。据了解，项目总楼面115万平方呎，其中2幢写字楼合共约65万平方呎。

该行认为，疫情期间一些大规模公司减少写字楼面积，并在更优质的写字楼物业租用办公空间。随着租户继续以可承担的租金租用写字楼，租户对顶级办公楼的需求依然强劲。相比之下，老化写字楼物业可能面临更高的空置压力。另外，该行亦看好啟德区，而该区今年新落成 AIRSIDE 每层楼面达5万平方呎，适合企业升级或扩充，而周边配套日渐理想，长远看好该区前景。

(经济日报)

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中港倘通关 甲厦空置率可改善

香港作为亚洲金融中心，核心商业区指标商厦向来为本地及中、外资企业争相进驻之地，以往黄金核心地段中环商厦更是长期一盘难求，空置率低。惟过去2年半全球受疫情影响，经济环境淡静，加上入境香港受限，商务人士长时间未能亲身到港物色写字楼，令商厦市场气氛持续寂静，各核心区甲厦空置率上升。要改善甲厦空置率情况，讨论已久的中港通关成为关键，市场人士认为，香港金融地位巩固，只要新政府上场后为通关事项落实具体方案，以及为在港隔离措施作出修订，配合疫情持续回稳，将可大大改善写字楼市况，长远而言对写字楼市场抱审慎乐观。

根据代理行统计，5月份港岛区整体指标商厦空置率录得约9.76%，按月增多0.19个百分点。5大核心商业区中，中环、上环及铜锣湾空置率均呈升势，其中，中环区由4月约8.19%，上升0.45个百分点至最新约8.64%，反映经济前景未明朗下，企业对租用写字楼态度趋向保守审慎。

力宝中心每呎38元租出 跌两成

早前金鐘指标甲厦力宝中心二座高层04室，单位面积约1,341平方呎，以呎租约38元租出，对比旧呎租约48元，租金下调约2成。同时，湾仔指标商厦会展广场办公大楼中高层11至12室亦录得成交，该单位面积约3,692平方呎，由去年中以呎租约50元招租，1年后终获租客青睞承租，成交呎租约43元，对比意向呎租减约14%，同时对比单位旧呎租约75元更大幅减低约43%，据知，该单位亦获多家企业竞投承租，反映单位呎租叫价跌至吸引水平，随即获市场承接。

写字楼市场走向最关键因素为中港能否通关，而谈论已久的通关问题一直受疫情影响而未能落实，由去年底政府高调宣布积极与中央讨论通关，至农历新年过后香港爆发第5波疫情而再度暂缓。特首李家超上场，早前亦表示将努力与内地沟通通关以及研究缩短来港人士隔离时间，意味着新政府亦意识到通关事宜为振兴经济的重点议题。市场人士预期，香港金融中心地位仍然存在，过去2年写字楼租金大幅调整，已届落后大市阶段，甲级商厦定必成为企业兵家必争之地，长远而言核心商业区写字楼前景仍见审慎乐观。

(经济日报)

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市局西营盘重建项目 下周一截标

测量师：加息因素 估值调低约1成

市建局旗下西营盘崇庆里 / 桂香街发展项目将于下周一 (11日) 截标。有测量师认为，地皮属于港岛罕有供应之一，估计落成后开售呎价可达3.2万元，惟地皮的景观则稍逊。而考虑近日加息因素后，该测量师调低估值约1成至约13.8亿到14.5亿元。

该测量师认为，项目主要优势是其交通方便，由项目步行约2至3分鐘可到达港铁西营盘站出口，而乘坐电车约3站，已经可以到达上环商业区一带。同时，鑑于西营盘的地皮供应量十分少，区内新供应大多靠旧楼收购，加上地皮规模不大，所以相信项目将受各类型的发展商欢迎，预计是次可以接获15份或以上标书。

估值降至13.8亿至14.5亿

不过，该测量师提及，由于当年市建局没有就项目以东的数座旧楼提出收购，故令项目的地形呈不规则，但是该测量师认为，中标发展商日后可以透过设计解决这个缺点。同时，项目位处内街，变相景观会相对逊色，整体单位面向楼景为主，惟参考附近同样位处内街的艺里坊系列，其销情相当不错，所以预计景观对日后项目销情不会构成大影响。除外，在市建局订立的单位面积限制下，该测量师预计将来项目供应户型以1及2房为主，亦会提供少量3房。

资料显示，中标发展商日后需要扩宽由项目接驳崇庆里儿童游乐场的通道，并须兴建车位。至于项目的配套方面，该测量师认为项目周边设有多间民生商店、食肆等，配套充足，加上西营盘对出的海傍设中山纪念公园，该处提供球场、泳池及海滨长廊，可提供优质的休閒地点。

该测量师又指出，早于4月时，该测量师预测地皮估值约14.7亿至16亿元，每呎楼面地价约1.55万至1.7万元。而考虑近日加息等因素后，该测量师最新把项目估值调低约6%至1成，至约13.8亿至14.5亿元，即每呎楼面地价约1.46万至1.53万元，预料项目落成后开售呎价可达约3.2万元。

该测量师直言，由于这区属于优秀的市区地段，而且大多项目拥有999年地契，所以吸引发展商「插旗」。但是，该测量师留意到过去几年区内收购旧楼的活跃度稍为减慢，因为这区有很多项目已经发展，而且不少发展商会计划把细型地盘改划作写字楼或酒店发展，变相项目与周边旧楼没有连贯性，所以剩下的地盘比较零碎，相对难发展。

(经济日报)

花旗近94万续租铜锣湾铺 减价35%

本港疫情反覆上落，影响商铺铺租回落，部分核心区大面积商铺在续租时租金下调。当中由花旗银行租用一段长时间，位于铜锣湾轩尼诗道逾7500方呎复式铺，最近成功续租，惟月租仅约94万元，相比高峰期回落逾五成外，更低于2008年金融海啸时的95万元。

资料显示，花旗银行租用多年、位于铜锣湾轩尼诗道513号维宝商业大厦地下、1楼及2楼，涉及楼面面积7585方呎，该银行成功在上月签订新租约，租约期为3年，在今年10月起每月租金调整至93.925万元，呎租约124元，至2025年9月底。

据了解，花旗银行早在1999年维宝商业大厦落成时，已租用有关商铺，至今已长达23年。最初首度租用时月租62万元，至2008年金融海啸期间以95万元续租，随后至2014年铺市高峰期，该铺更以高达199.44万元续租；但之后铺市回落，在直至2019年3月在反修例风波前，该铺租金下调至144.5万元。现时该巨铺最新续租租金93.925万元，相比2014年高峰期199万元低53%，而较上一份租约，则减租约35%。

(信报)

Hong Kong’s premium office vacancy rate hits 19-year high of 12 per cent as more companies adopt work-from-home policies to counter downturn

There is 9.8 million sq ft of empty grade A space in the city, equivalent to about five Two International Finance Centre or 170 football fields, according to a property agency’s report on Tuesday

Kowloon East had the highest vacancy rate, at 14.6 per cent, while in the city’s main business zone, Central, the rate was 8.2 per cent

The vacancy rate in Hong Kong’s premium office market climbed to 12 per cent in June, the highest in almost 19 years, as a rising number of companies adopt work-from-home arrangements and cost saving measures to cope with the economic downturn.

There is 9.8 million square feet of empty grade A space in the city, equivalent to about five Two International Finance Centre or 170 football fields, according to a property agency’s report on Tuesday.

“As the trend of downsizing and cost saving continue, measures like work-from-home arrangements will remain, which leads to such high vacancy rates in all submarkets,” an agent said.

Some of Hong Kong’s main office districts – Wan Chai and Causeway Bay, Hong Kong East, Tsim Sha Tsui and Kowloon East – saw double-digit vacancy rates last month. Kowloon East had the highest at 14.6 per cent, the data showed.

The vacancy rate in the zone covered by Central, Admiralty and Sheung Wan increased from 7.6 per cent at the end of last year to 8.2 per cent by the end of June.

In February, Mark Leung, associate director of Hong Kong and China real estate research at UBS, said in a Spotify podcast that the office market in Hong Kong will continue to be disrupted by the work-from-home trend this year as the coronavirus pandemic rages on.

Several banks in Hong Kong were among the employers who adopted flexible working arrangement as the city continues to guard against covid-19 infections.

“We support our employees to adopt flexible and alternative ways of working where possible, including working from home and different hours,” said a spokesperson at HSBC in response to a query from the Post.

The largest drop in office rents in the first half of 2022 was seen in Hong Kong East, where the average rate fell 3.9 per cent on a year-on-year basis.

The agent said that Hong Kong’s office rents have fallen by 13 per cent from their historic peak in December, 2018. However, she forecasts a rise of between 3 and 8 per cent rise in the second half of 2022, provided the border with mainland China is reopened.

The agent said that the decline in average rents has been led by a surplus of supply in the market, which happened as companies tried to control costs by adopting remote-working policies.

The agent anticipates new office supply surging to 3.7 million square feet by the end of 2022, from 576,200 square feet last year.

“With business momentum forecast to resume along with the potential return of Chinese enterprises, leasing activity is expected to increase in [the second half of] 2022,” the agent said.

Overall, grade A office rents fell by 0.4 per cent in the second quarter, bringing the total decline for the first half of 2022 to 1 per cent. Gross leasing activity dropped 23 per cent to 855,700 square feet in the second quarter, resulting in a 6.7 per cent year-on-year slump in leasing volume.

Another agent said that opportunities remain for both investors and occupiers as discounts are relatively large right now. The potential return of Chinese firms and a possible change of quarantine policies gives office owners a glimmer of hope, though they will still face challenges.

“The supply boom and a limited increase in demand will intensify competition,” the agent said.

(South China Morning Post)

For more information of Office for Lease at International Finance Centre please visit: Office for Lease at International Finance Centre

For more information of Grade A Office for Lease in Central please visit: Grade A Office for Lease in Central

Home buyers snap up Sino Land’s Villa Garda flats in Lohas Park, enticed by 16 per cent discounts

Eager home-seekers snapped up 225 of the 238 flats on offer at Sino Land’s first project in Tseung Kwan O’s Lohas Park

Hong Kong’s overall housing market will continue to soften in the third quarter, says property agent

Hongkongers snapped up almost every flat in the second phase of Sino Land’s Villa Garda project in the Lohas Park district of Tseung Kwan O in the New Territories, shrugging off the city’s rising mortgage rates.

The developer sold 225 flats, or 95 per cent of the 238 units on offer at Villa Garda I as of 7pm, for close to HK$2 billion (US$255 million) in sales proceeds, according to Sino Land’s executive director Victor Tin.

“Including the sales launch on June 30, Villa Garda I sold 463 units, about 97 per cent of the total launched units,” Tin said, adding that the developer has raked in HK$4 billion in total sales from the project.

The current batch of flats were priced between HK$17,106 and HK$21,346 (US$2,180 and US$2,720) per square foot after an average discount of 16 per cent, cheaper than the HK$23,000 per sq ft price in the neighbourhood.

The cheaper entry price made the project popular among young, first-home buyers, a property agent said.

“The developer is selling at close to the market price, or even lower than the prevailing price,” the agent said. “It is very [popular] among young first-time buyers. Everyone thinks Lohas Park is a district with great potential.”

Flats at Villa Garda are priced between HK$6.43 million and up to HK$13.7 million for the most expensive unit measuring 721 square feet. A 335-square foot unit sold for HK$7.42 million, or HK$22,151 per sq ft, making it the most expensive unit by square footage, Tin said.

Buyers of Villa Garda I were mostly young families and residents of the neighbouring district Tseung Kwan O, who wanted bigger homes for their own use, Tin said.

Hong Kong’s home prices softened in the first half, as a resurgent Covid-19 outbreak forced developers to postpone all property launches for three months, writing off the first quarter.

Prices fell in every major district on Hong Kong Island, the New Territories and Kowloon during the second quarter, dropping between 0.4 per cent and up to 10.9 per cent in housing estates.

“Property prices are expected to continue [softening] in the third quarter, as the United States continues to raise interest rates,” another agent said.

Hong Kong’s banks have kept their prime rates unchanged, even after the Hong Kong Monetary Authority (HKMA) raised the city’s base rates by a whopping 75 basis points on June 16, in lockstep with the US Federal Reserve.

Still, mortgages tied to the Hong Kong Interbank Offered Rate (Hibor) have risen, as the cost of money has increased to surpass a two-year high of 2.1 per cent, a trend that would dampen appetite for property purchase in the city.

Some of that had already been evident, when two projects launched in the first week of July received the collective cold shoulder from buyers.

Billion Development and Project Management failed to find a single buyer when it released 283 unsold flats in its The Horizon and Centra Horizon projects in Pak Shek Kok, not even with discounts of up to 6 per cent.

On Sunday, only a fraction of the 72 units at the Grand Jeté project in Tuen Mun by CK Asset Holdings and Sun Hung Kai Properties was sold, even with prices that were 10 per cent cheaper than the other new projects nearby.

(South China Morning Post)

June presale approvals hit 31/2 year high

Presale approvals for new homes hit a three-and-a-half year high of 4,611 in Hong Kong last month while the number of private flats completed reached nearly half of the annual target as of May.

The flats across seven projects include three phases of Villa Garda in Lohas Park in Tseung Kwan O, which provides a total of 1,880 flats, according to data from the Lands Department.

Wheelock Properties' two projects with Sun Hung Kai Properties (0016) and others in Kai Tak, which offers 1,219 flats altogether, have also won the nod for presale.

Approvals have also been given to SHKP's phase 1A of Novo Land in Tuen Mun and phase 2B of Silicon Hill in Tai Po, providing 824 and 668 units, respectively.

The department received two new applications last month, including phase 12 of Lohas Park with 650 homes.

As a result, the number of residential units pending presale consents dropped by 16 percent to 20,688 as of the end of last month.

Meanwhile, figures from the Rating and Valuation Department showed that the number of private flats completed in the city plunged 37.6 percent to 1,183 in May from April but the total number in the first five months was 11,162 or nearly 49 percent of the annual target of 22,851 flats.

In the primary market, at least 95 percent of the 238 homes on sale yesterday at Villa Garda I, phase 11B of Lohas Park, were sold, said the developers.

They pocketed over HK$2 billion from the sales of 225 units yesterday and said the Villa Garda II with 644 units will be put on the market soon.

The project with 592 flats is jointly developed by Sino Land (0083), K Wah International (0173), and China Merchants Land (0978).

In Tuen Mun, SHKP said the first price list with at least 165 units at phase 1A of Novo Land will be unveiled soon.

The fist batch will comprise homes from studio units to three-bedroom units, the homebuilder said.

In the shops market, Citibank is said to have renewed the lease of a 7,585-sq-ft shop in Causeway Bay for HK$939,250 per month for another three years, more than 50 percent cheaper than the peak level seen in 2014.

The rent is around 35 percent lower than the last contract and even less than the rent of HK$950,000 recorded during the 2007-08 financial crisis.

In other news, DBS Bank (Hong Kong) has launched green mortgages to support customers' green living and promote sustainable development of the society.