〈The Standard, Oct 15, 2022〉Several new property projects are ready for sale as the city looks forward to the new policy address, hoping for support for the local economy and property market

Six new projects of about 2,200 flats are being prepared for sale, according to Sing Tao Daily, the sister publication of The Standard. Two are on a large scale and each provide 600 flats for sale: Henderson Land Development's (0012) One Innovale phase 3 at Fan Ling, and Sun Hung Kai Properties' (0016) Silicon Hill located at Pak Shek Kok, Tai Po.

One Innovale has 1,576 units in three phases, and has sold 882 units for HK$4.35 billion in the first two phases. The third phase has been granted pre-sale consent, and sales may kick off this month. This project, which has 565 units, may follow previous sales results as its house types are similar to the first two phases.

In addition, Henderson Land said that Baker Circle phase 2 in Hung Hom may be put up for sale. The project, providing 300 flats with house-type similar to the first phase, is attractive to potential customers.

〈The Standard, Oct 14, 2022〉The hotel market has been booming, with eight full-block hotel sales involving HK$9.3 billion so far this year, a nine-fold increase compared to HK$920 million in the same period last year.

The most expensive deal of this year is of Hotel COZi Harbour View.

The Kwun Tong hotel, with 598 rooms was sold for HK$2.47 billion in September, putting the value of each room at HK$4.13 million.

The family of Hong Kong's late "Shop King" Tang Shing-bor reportedly bought the building from Henderson Land Development (0012) in 2017 at HK$2.3 billion, which means the unit has recorded a HK$170 million increase in valuation within five years.

〈Hong Kong Business, Oct 13, 2022〉Rents for luxury apartments grew in Hong Kong Island, Kowloon, and the New Territories in Q3, thanks to Mainlanders moving to the city amidst the sporadic lockdown across China.

Based on Savills report, rents picked up by 1.2% QoQ for Hong Kong Island, 1.9% QoQ for Kowloon, and 0.5% QoQ for New Territories.

All districts in Hong Kong Island also saw modest growth in Q3, led by Happy Valley/Jardine’s Lookout (+3.2%) and Southside (+1.9% QoQ). Meanwhile, Mid-levels and Pokfulam both increased by 0.6% QoQ.

Savills said Mainlanders were mainly focused on traditional luxury enclaves such as Southside, The Peak and Mid-Levels.

〈Asian Post, Oct 12, 2022〉The warehouse vacancy increased by 0.4 percentage points quarter-on-quarter (QoQ) to 2.7% in the third quarter, partly driven by the completion of a new logistics centre in Tuen Mun.

In a report, CBRE said the limited industrial space availability and softening demand contributed to the further slowing of leasing momentum in the third quarter

The demand in warehouses was mainly driven by a select number of retailers, whilst the other activity included a data centre operator pre-leasing 150,000 square feet of space, which comprises most space in an upcoming building. Third-party logistics remained inactive

〈Hong Kong Business, Oct 12, 2022〉The total volume of commercial real estate investment involving deals worth over $77m, excluding pure land or related transactions, rose by 5.7% quarter-on-quarter (QoQ) to $18.1b in the third quarter, according to CBRE.

In a report, CBRE said only 20 transactions were registered during the period, which is less than half of the total signed in the second quarter and is at the same low levels seen from the fourth quarter of 2019 to the third quarter of 2020.

Year-to-date, the total investment volume is at $48.6b, which is 60% of the total in 2021.

Reeves Yan, Executive Director, Head of Capital Markets, CBRE Hong Kong said investment demand softened in the third quarter driven mainly by the commencement of an interest upcycle.