Carmel buyer walks from $1.5m deposit
A prospective buyer of a duplex apartment at The Carmel, Tuen Mun, developed by Wing Tai Properties (0369), forfeited a deposit of HK$1.46 million after canceling the transaction.
The 1,418-square-foot unit sold for HK$29.21 million, or HK$20,599 per sq ft last week, which would have been the highest for the project.
Meanwhile, the developer recorded another forfeit of around HK$336,450 after the buyer of a 450-sq-ft flat at Oma Oma canceled the deal.
Elsewhere, luxury project Grand Homm in Ho Man Tin, under Goldin Group, sold five units by tenders at HK$30,000 per sq ft on average. Separately, a 1,403-sq-ft unit sold for HK$39.34 million, or HK$28,039 per sq ft, the lowest for the project so far. And Ocean Marini in Tseung Kwan O, developed by Wheelock and Company (0020) will launch 101 units this Sunday but will limit visiting groups to three only, to meet the social distance restrictions by the government.
In the secondary market, 97.5 percent of homeowners gained after selling their units in the first quarter, with an average return of 74.5 percent for each deal, the lowest in 15 quarters and 12 quarters, respectively, data from the Land Registry and property agency showed.
An 897-sq-ft flat at benchmark project Tai Koo Shing in Quarry Bay changed hands for HK$17.29 million, or HK$19,273 per sq ft after 4 percent was cut from the initial asking price.
In other news, Edwin Lee Kan-hing, founder of Bridgeway Prime Shop Fund Management, predicts the local shop market will face the hardest time with bankruptcies during June and July.
(The Standard)
Bids for Hong Kong’s land tenders may come in with 20 per cent discounts, foretelling more woes for city’s real estate industry
Three plots of land the Hong Kong government is going to sell through tender could attract bids that are up to 20 per cent below mid-2019 levels, which in turn could determine transaction volume and prices in the world’s most expensive property market, industry consultants said.
A residential plot in Mong Kok, the tender for which closes on Friday, a commercial plot in Kai Tak and residential land on Anderson Road in Kwun Tong, the tenders for which close next month, could see their estimated valuations cut by as much as a fifth by property developers, according to consultants and surveyors.
The coronavirus pandemic, a bleak economic outlook as well as rising unemployment continue to weigh on Hong Kong’s property market. For instance, the prices of used homes have fallen by 6.6 per cent between a peak in May 2019 and February, according to the Rating and Valuation Department.
How the land sales pan out might affect the decision-making of some homeowners, a surveyor said. “Developers are major market players. Their bids will be indicative of the property market and economy in the future, ” the surveyor said.
The bids might affect transactions and market sentiment in the short term, a consultant said. “When land is sold at a high price, [homeowners] might withhold listings in anticipation of higher prices in the future. If the prices are low, there will be more discounts,” the consultant said.
The Consultant cut the valuation of the residential site in Mong Kok by 20 per cent to between HK$480 million (US$61.9 million) and HK$530 million. The site has a gross floor area of up to 50,497 sq ft. The value of the Kai Tak commercial plot was cut by 15 per cent to between HK$6.6 billion and HK$7.7 billion. The site can yield a gross floor area of up to 1.16 million sq ft.
The Anderson Road plot faced the risk of being withdrawn from sale by the government if the bids do not meet its reserve price, Lam said. He cut the plot’s estimated value by 15 per cent to between HK$5.5 billion and HK$6.5 billion. The plot can yield 1.09 million sq ft. More than half of the homes to be built on this site will be sold as starter homes, at 20 per cent below market price. These homes come with rules about layouts and buyers’ income requirements.
Another property consultant meanwhile cut its valuation of the residential plots by 10 per cent. As far as the commercial plot is concerned, it slashed its valuation by more than 20 per cent, saying that Kai Tak was not mature enough to attract developers under the currently depressed economic situation.
Lower bids will send a negative signal to the market, that developers have become more cautious, a director of an advisory and appraisal company said. “Homebuyers will aggressively ask for more discounts from the sellers then.”
Last week, Paul Chan Mo-po, Hong Kong’s Financial Secretary, said the decline in land prices will be faster than a drop in home prices in a depressed economy, and suggested that the government would receive less in land sale revenue this year.
This month, a 470 sq ft flat on Macpherson Place in Mong Kok sold for HK$8 million, at a loss of about HK$2 million including other expenses, according to property agent. The sale came after a plot of land equalling half a basketball court in area sold for HK$85.9 million. At HK$3,512 per square foot, it was about 20 per cent less than the lower end of market expectations and the lowest per sq ft price recorded in urban Hong Kong since 2004.
(South China Morning Post)
荃灣逾10工廈重建 增340萬呎工商樓面
位於荃灣的柴灣角工業區舊式工廈林立，受惠於政府推動工廈活化2.0，加快區內重建及轉型，區內目前至少10個工廈重建計劃，合共提供多逾340萬平方呎的工商業樓面供應。
荃灣屬於第一代的衛星城市，除了大量住宅發展外，亦發展出柴灣角及大窩口兩個工業區，當中位於荃灣西面的柴灣角工業區佔地達117.4萬平方呎，在上世紀60、70年代以紗廠、紡織廠等輕工業為主，設有南豐紗廠、中央紗廠等大型紗廠。
改劃用途增地積比 加快轉型
近年政府有見區內具有轉型的潛力，故此將整區改劃成「其他指定用途(商貿)」，再加上政府推出工廈活化政策2.0後，提供額外2成地積比率，加快區內的工廈重建步伐。目前區內至少有10個工廈重建計劃，預計未來能提供約340萬平方呎的工商業樓面供應，推動該區轉型成為新的商貿區。
理想集團廣場 改建新型工廈
除了大型工廈外，區內中小型財團近期亦參與重建，當中理想集團旗下荃灣白田壩街46至48號理想集團廣場，申請把地積比率上限放寬兩成至11.4倍，以便重建為1幢22層高的新型工廈，總樓面面積約8.9萬平方呎。
區內近年亦有不少大型重建項目，當中坐落半山街及沙咀道交界的中央紗廠1至5號廠房，麥格理嘉民亞洲基金在2012年以約9.45億元購入，該財團及後亦併購比鄰的沙咀道工廈，並進行拆卸重建。
當中，中央紗廠1廠部分的5萬平方呎地盤，申請重建作「非污染工業發展」，總樓面約57萬平方呎，而其餘第2至5號廠房的原址合共約7萬平方呎的地盤，市場估計，發展商之後亦會提出重建申請，若果同樣以地積比率11.4倍發展，將可提供接近80萬平方呎樓面。
另外，億京在2017年底亦以約21.6億元購入荃灣青山公路503至515號的永南貨倉大廈，該工廈佔地約5.08萬平方呎，發展商可補地價後，以地積比率12倍重建成商廈，可建樓面約60.96萬平方呎。
至於半山街18至20號慶豐印染廠，金朝陽 (00878) 則申請重建成25層高新型工廈，提供約28.5萬平方呎樓面，旁邊的通利琴行貨倉，業主也提出重建成銀座式商廈，提供寫字樓、食肆及零售商店服務等用途。隨着多個大型工廈陸續落實重建，柴灣角工業區的面貌將會煥然一新。
(經濟日報)
西營盤商住樓叫價6.1億
土地需求殷切，部分業主亦趁勢放售旗下物業，西營盤德星里商住物業，地盤面積約4338方呎，現為5幢住宅大廈，作價6.1億放售。
代理表示，上述為西營盤德星里1至7號，地盤面積約4338.9方呎，以約6.1億放售。
地盤面積約4338呎
該代理續指出，物業現為5幢相連住宅大廈，可重建作商住項目或服務式公寓，地契達999年期，住宅部分地積比率為8倍，非住宅則為15倍。
該代理續稱，該項目地理位置不俗，周邊商廈、商鋪及住宅林立，人流量理想，交通配套方面，物業鄰近區內港鐵站，附近亦有多條巴士、小巴、電車綫。
該代理稱，西區一帶有不少新落成的住宅項目，例如藝里坊1號、星鑽、縉城峰及薈臻等，周邊規劃發展理想，是次放售物業屬市場罕有供應，地盤面積具規模，適合商住規劃發展，對發展商及投資者均具吸引力。
(星島日報)
上環信德中心呎價2.6萬低10%重返四年前水平投資者承接
市場觀望氣氛瀰漫，拖累甲廈造價持續下滑。消息指，上環信德中心招商局大廈中低層單位，每呎造價約2.6萬，低市價10%，造價重返四年前水平，買家為投資者，回報約2.5厘。
市場消息透露，上址為信德中心東翼招商局大廈中低層7室，面積約1669方呎，作價約4339.4萬易手，呎價約2.6萬，據代理指，該單位層數高於10樓，望四季酒店及開揚海景，屬優質單位，成交價低市價約10%，現址以每呎55元獲中資貿易公司租用，月租逾9.1萬，租約到明年底，買家享回報約2.5厘。
成交價4339萬
土地註冊處資料顯示，最新成交的中低層7室，原業主於2004年以782.36萬購入，持貨16年，帳面獲利3557萬，期間升值約4.5倍。
該廈最近期成交，為去年10月份，投資者連購單位，包括中低層13室，以2618萬易手，平均呎價約24768元，同層12室，面積1057方呎，以2854萬成交，平均呎價約2.7萬。代理指出，上述12及13室望城市及街道景觀，未及海景戶優質，當時造價為重返兩年前水平。因此，最新單位造價更低。
美國銀行中心每呎56元租出
市場消息指出，灣仔會展廣場辦公大樓高層01至09室，面積約12778方呎，以每呎43元租出，月租逾54.9萬；同區修頓商業大廈中層單位，面積約950方呎，以每呎36.8元租出，月租約3.49萬。
中環美國銀行中心甲廈低層20室，面積約674方呎，以每呎56元租出，月租逾3.77萬；上環中遠大廈中層05室，面積約1290方呎，以每呎56元租出。
電影發行商租西環巨鋪
有代理稱，金鐘力寶中心中層單位，面積約3341方呎，意向月租18萬，意向呎租約54元。陳國基指出，該單位早前呎租約60元，月租約20萬，意向租金調整約10%。
著名電影發行商Golden Scene將於西環開設電影院，土地註冊處資料顯示，承租堅尼地城北街海怡花園3座地鋪連1樓，以每月46萬租出，租約由去年11月1日至2023年10月31日，並有3年續約期。市場消息指，該戲院類似油麻地百老匯電影中心，主要放映文化及小眾的電影院。
(星島日報)
