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"Honglou" U.S. Lianbu Shaoming expects a rental return rate of 4.5 to 5% for "101 KINGS ROAD" in the project, with potential for price increases and additional promotion space.
Developed by wang on ppt (01243.HK), the commercial and residential project '101 KINGS ROAD' located on King's Road in North Point announced its first price list today (12th), involving 51 units, with an average actual price of about 20,800 yuan per square foot, setting a new low price for new developments in the North Point area in the past 10 years. Vincent Cheuk, CEO of the residential department at Midland Realty, said that the above project is located in the central district of Hong Kong Island, close to the MTR station, with diverse unit types. In addition, with the ideal rental demand in the area, it is expected that the rental return after the project is completed can reach a level of 4.5 to 5 percent, which will attract many end-users and investors. It is believed that investors will also account for about 40%. Cheuk expects that
Standard & Poor's expects that Hong Kong property prices will stabilize next year, raising the sales volume forecast for new projects to 0.02 million units.
Rating agency Standard & Poor's released a report stating that after a nearly 30% decline in high Hong Kong property prices in 2021, they are expected to stabilize next year. However, local developers are still struggling, mainly due to high inventory, and the recognition of residential projects purchased during the period of high land prices will further pressure profit margins. Nevertheless, Standard & Poor's believes that with the government relaxing housing market measures and interest rates trending downwards, they have revised their forecast for next year's new home sales volume to 0.02 million units. In addition, Standard & Poor's expects that the future three to four years' new supply may exceed 80% of the government's ten-year private residential supply target.
The total number of negative assets in the third quarter increased by nearly 35%, reaching a nearly 21-year high. The real estate market stabilized in the fourth quarter after the decline.
According to the latest data released by the HKMA, there were 40,713 cases of negative assets recorded in the third quarter of this year, involving an amount of 207.51 billion yuan. Compared to 30,288 cases and 154.992 billion yuan recorded in the second quarter, the number of cases and the amount increased by 34.4% and 33.9% respectively each quarter, with the number of cases reaching a new high nearly twenty-one years since the fourth quarter of 2003. Clarence Mak, Chief Vice President of Mortgage Referral, stated that despite a slight rebound in the property market after the government's cooling measures were lifted earlier this year, the cooling effect did not continue. Additionally, with high interest rates and developers promoting properties at low stock prices, property price increases have all evaporated and fallen. According to the Rating and Valuation Department.
In September, the number of commercial properties registered in Hong Lou increased by about 33% monthly. The United States Liangu industrial and commercial properties are expected to attract more investors to enter the market for low stock price purchases
According to the data from the Land Registry, there were 76 registrations of local commercial premises in Hong Kong in September this year, representing a monthly increase of about 33.3%; the registered amount is approximately 1.304 billion yuan, with a monthly increase of about 58.9%. The research department of the United States Industrial and Commercial Premises stated that the relevant data mainly reflects the market conditions in August this year. With the Hong Kong Monetary Authority relaxing the mortgage loan conditions for residential and non-residential properties, providing incentives for investors to enter the market, and the Federal Reserve announcing a half-point interest rate cut in mid-September this year, major banks in Hong Kong have also lowered mortgage rates. It is expected that besides homeowners buying commercial properties for self-use, there will be more investors re-entering the market in the future, absorbing quality commercial properties at low stock prices.
The bidding for the medium-sized residential land in Sha Tin Siu Lek Yuen has been completed. Colliers International: market conditions are improving and the scale is moderate, with an estimated value of 1.065 billion.
The residential land in Sha Tin Wai Road, Sha Tin, will close its bid tomorrow (25th). Director Lam Tsz Pan from Meritas Surveyors mentioned that this project is the second residential land tendered in the same area within a short period of time. Compared to the Yuen Shun Circuit project sold in July, this project is approximately twice the size. The location is about a ten-minute walk from the MTR station, situated at a street corner, adjacent to a highway, expected to enjoy unobstructed views in the future, with some noise pollution. The transportation and community facilities in the area are well-developed, showing considerable development potential. The response and fill price of the previous land tender in the same area were ideal, with an approximate land price of HKD 3,952 per square foot, expecting some involvement in this case.
《Hong Kong Building》: Latest MMI reports 4.13 cents, dropping for four consecutive months and hitting a nine-month low.
According to the latest data from the Meridian Mortgage Referral Research Department, the Meridian Mortgage Interest Rate Index (MMI) in September this year, which reflects the actual interest level that new mortgage customers can generally achieve, is reported at 4.13 basis points, a slight decrease of 1 basis point per month, marking a four-month consecutive decline and reaching a new low in nine months. Deputy Chief Vice President Cao Deming of the Meridian Mortgage Referral mentioned that in September, as many as 95% of new mortgage customers chose Plan H, indicating a trend of new customers preferring Plan H. Meanwhile, in September, the average one-month Hong Kong Interbank Offered Rate (HIBOR) reported 3.89 basis points, causing the actual interest rate and MMI of Plan H to consistently hit the ceiling. Cao Deming continued.
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