|
|
| HONG KONG
PROPERTY |
Residential
|
Office premises
|
Retail premises
|
Flatted factory
|
| TRENDS |
Price
|
Rental
|
Price
|
Rental
|
Price
|
Rental
|
Price
|
Rental
|
| 1996 |
8.9 |
-1.4 |
-3.2 |
-14.7 |
3.3 |
* |
-13.7 |
-9.9 |
| 1997 |
39.5 |
13.0 |
13.1 |
3.0 |
32.3 |
4.8 |
-1.5 |
0.1 |
| 1998 |
-28.2 |
-16.3 |
-36.9 |
-13.3 |
-27.6 |
-10.0 |
-22.0 |
-10.9 |
| 1999 |
-14.6 |
-11.2 |
-25.7 |
-26.4 |
-22.1 |
-10.1 |
-24.1 |
-15.3 |
| 2000 |
-10.4 |
-1.9 |
-10.1 |
-1.5 |
-6.4 |
1.3 |
-8.8 |
-4.6 |
| 2001 |
-12.5 |
-2.8 |
-12.9 |
2.7 |
-8.4 |
-1.6 |
-10.6 |
-5.2 |
|
>> HISTORICAL
Source: HK
Government |
SNAPSHOT as at 2002:
- Population up 0.7%
(48,000) in 2001
- Unemployment up to 7.1%
- Decline in number of expatriates and their lower
housing budgets
- Turnover of property transactions down by 25% over
previous year
- Best lending rate (prime) at historic low of 5.25% in
2002
- However because of preferred packages offered by
developers and banks, 95% of the loans were at below prime with average
mortgage rates at 2.7%
- Continuing trend of change to rental projects from
pre-sales
- Investor expectations according to DTZ
Research (p. 28):
- Luxury
Residential
5-6% average yield per annum
- Industrial
10-15% average yield per annum
- According to Cushman
Wakefield, property values at The Peak are down 43.4% since the
height of the market in 3Q97
LUXURY MARKET OUTLOOK:
- End users searching for reasonably price prime
residences for owner occupancy
- Despite historic low interest rates, investors remain
cautious in light of uncertain economic trends in both United States and
Hong Kong
- Luxury market comprise just 2% of private housing stock
- Property market poised
for a rebound next year according to Chartered Surveyors institue
- In the past, luxury supply had been consistently low
but this is not the case with the following:
| Completion |
Project
|
# units |
Developer |
| 2001 |
41C Stubbs Road
Summit |
56 |
Hang Lung |
| 2002 |
41D
Stubbs Road
High Cliff |
117 |
Central |
| 2001 |
26
Peak Road |
11 |
Nanfung |
| 2001 |
2 Bowen
Road
Regency Royale |
105 |
|
| 2002 |
8-10
Mount Austin Road |
76 |
Nanfung |
| 2002 |
80
Robinson Road |
264 |
Nanfung |
| 2002 |
Bamboo
Grove @ Kennedy Road (renovation) |
345 |
Hysan |
| 2003 |
3
Tregunter Path
Ava Mansions |
68 |
|
|
|
    
Copyright © 2003
By opening this page you accept our Privacy
and Terms
& Conditions
|
   
|
|
|
