HK - Commercial Properties & REITs

Re: HK - Commercial Properties & REITs

Postby behappyalways » Tue Mar 15, 2016 4:12 pm

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Re: HK - Commercial Properties & REITs

Postby winston » Fri Apr 01, 2016 7:41 am

Mall rents tipped to drop by up to 25pc

UBS has issued a pessimistic outlook for the local property market, warning rents in shopping malls could drop by up to 25 percent.

The investment house said rents in luxury malls will drop by 20 to 25 percent by the end of 2017, while other malls are also likely to see rents fall by 15 percent.

This comes after many malls issued rent hikes last year when renewing leases with tenants.

But UBS said it believed the drop would come from the heightened supply of retail space in the next three years.

"Supply is to triple compared to the historical average," said UBS head of Hong Kong and China real estate research Eva Lee Chi-wing.

Some of the largest retail supply comes from the New World Centre redevelopment in Tsim Sha Tsui, YOHO mall extension in Yuen Long and community malls in Tseung Kwan O.

"The down cycle this time is expected to last for two years," Lee said. She predicted the unemployment rate will reach 4.5 percent by the end of the year and home prices are also set to drop by a further 20-25 percent.

The recent lackluster sales in the primary home market was also concerning, Lee said.

Source: The Standard
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Re: HK - Commercial Properties & REITs

Postby winston » Thu Apr 07, 2016 7:39 am

Rents sink in key shopping areas

by Dominique Nguy

DTZ/Cushman & Wakefield says first-quarter rental prices for shops in Causeway Bay, Tsim Sha Tsui, Central and Mong Kok have dropped by 5 to 7 percent compared to the same period last year.

Rents in Causeway Bay have plunged 50 percent from the peak three years ago.

The company attributed the drop to the poor performance in the retail sector and the economic slowdown.

The fall in the number of mainland tourists is another reason.

Retailers who were not optimistic about the economic outlook have decided to move out before their contracts expire. If this trend continues, the company predicts rents in core districts will drop by 10 to 15 percent this year.

Following an announcement by Chow Tai Fook (1929) that it will give up retail stores in Tsim Sha Tsui, Haiphong Road and Hankow Road, Puyi Optical has also decided not to extend its rental contract for its store in Canton Road. The rent is HK$2 million, or HK$1,666 psf. The contract expires at the end of this month.

DTZ/Cushman & Wakefield also reported that office rents in core business districts continued to rise in the first quarter this year. Office rents in Central surged by 5.3 percent quarter on quarter to HK$128.88 psf per month.

This rise was mainly due to strong demand from Chinese financial companies.

However, due to global concerns and China's economic slowdown, DTZ/Cushman & Wakefield expects the rise in rents in Central to slow in the second quarter.

The company points out that due to companies not extending their contracts and moving to other districts, there will be pressure on rents for office buildings in Kowloon East.

With more offices and the revitalization of industrial buildings, the company expects the office building rents in Kowloon East to drop at most by 5 percent.

Source: The Standard
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Re: HK - Commercial Properties & REITs

Postby winston » Tue Jun 07, 2016 4:27 am

Hong Kong office rental market showing signs of slowdown

Growth rate may decline as more multinational financial firms scale back operations in city despite an increase in office spaces

Office rental growth rate in Hong Kong is set to fall in the next 12 months, compared to an average 1.3 per cent growth in the past four quarters, according to analysts from S&P Global Ratings.


The city is expected to see an increase of 2.8 million square foot in net floor area in 2017, most of which will be in the relatively cheaper Kowloon East area, according to CBRE.


Source: SCMP

http://www.scmp.com/property/hong-kong- ... s-slowdown
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Re: HK - Commercial Properties & REITs

Postby winston » Wed Jun 08, 2016 10:46 am

Too Late To Short Hong Kong Retail, Real Estate Now: HSBC

By Shuli Ren

Source: Barron's Asia

http://blogs.barrons.com/asiastocks/201 ... -now-hsbc/
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Re: HK - Commercial Properties & REITs

Postby behappyalways » Sat Jun 11, 2016 6:13 pm

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Re: HK - Commercial Properties & REITs

Postby winston » Thu Jun 16, 2016 8:10 am

Hong Kong Climbs to World’s Most Expensive Office Market; Asia Accounts for Four of the Top Five, CBRE Group Reports

Hong Kong, Dublin, Stockholm and Monterrey Lead Growth in Occupancy Costs

Hong Kong’s (Central) overall prime occupancy costs of US$290 per sq. ft. per year topped the “most expensive” list, displacing London’s West End (US$262 per sq. ft.). Beijing (Finance Street) (US$188 per sq. ft.), Beijing (Central Business District (CBD)) (US$182 per sq. ft.) and Hong Kong (West Kowloon) (US$179 per sq. ft.) rounded out the top five.



Source: Business Wire

http://www.businesswire.com/news/home/2 ... ice-Market
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Re: HK - Commercial Properties & REITs

Postby winston » Thu Jun 23, 2016 7:44 am

Tech firms boost demand for office space

by Koey Yip

Demand for office spaces in the central business district is growing, with the emerging financial technologies industry one of the main culprits for tight vacancy rates and rising rents.

Colliers International research and advisory analyst Yasas Wickramasinge said the fintech industry has raised demand for grade B office spaces in the CBD including Central and Wan Chai.

Jonathan Wright, associate director of offices services, said established fintech companies are more likely to rent serviced office spaces to benefit from the cluster of similar industries nearby.

Real estate firm JLL Hong Kong said the banking and finance sector has driven leasing demand for grade A offices in Central. As May 31, the vacancy rate in eastern Hong Kong Island and Central remained extremely low at 0.8 percent and 1.3 percent.

Rents in Central in May also grew 1.2 percent from April to more than HK$107 per square feet. However Kowloon East, another CBD proposed by the government, does not see the same trend, with rents slipping 1.1 percent from the previous month due to increasing supply.

The vacancy rate of grade A offices rose to 7.5 percent in May, up from 6.4 percent in April.

Source: The Standard
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Re: HK - Commercial Properties & REITs

Postby winston » Wed Jul 06, 2016 9:13 am

Gloomy outlook for office rents

by Dominique Nguy

Hong Kong office rents recorded growth in the second quarter but real estate services firms are not optimistic about the prospect in the second half of this year due to economic uncertainty.

Statistics from DTZ/Cushman Wakerfield, a global real estate services firm, showed that the overall monthly average office rents have gone up by 0.4 percent compared to the first quarter.

In particular, demand for office space from mainland banking and financial companies drove prime Central and greater Central rents to HK$132.03 and HK$118.41 per square feet per month, both up by 2.4 percent from the first quarter.

However, the overall net absorption of office space turned to negative 77,746 square feet in the second quarter from a positive 63,972 in the previous quarter which was mainly due to released space in greater Central, Tsim Sha Tsui and Hong Kong south.

"Rental growth in the second quarter has slowed due to corporations' concern about the prospects of the global and China market," said John Siu Leung- fai, DTZ/Cushman & Wakefield managing director Hong Kong.

Siu believes this concern will extend into the second half and forecast new lease transactions for offices in the second half of this year would drop around 20 percent.

Source: The Standard
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Re: HK - Commercial Properties & REITs

Postby winston » Wed Aug 10, 2016 10:58 am

Daiwa Downgrades Hong Kong Property REITs After Hot Rally

By Shuli Ren

Hong Kong’s property stocks are hot commodities this year as investors search around the world for better yield.

Hong Kong property stocks have surged 37% from this January low.

The last time property companies performed this well relative to the Hang Seng Index was October 1997, according to Bloomberg.

But some analysts are becoming cautious. Daiwa Securities this morning downgraded Link REIT (823.Hong Kong) and Fortune REIT (778.Hong Kong) from Buy to Outperform. These two REITs have advanced 22.5% and 29% this year.

While affirming the REITs’ fundamentals are sound, analyst Jonas Kan would rather take the money off the table. His HK$61.60 price target for Link implies 3.7% and 4.2% dividend yields for fiscal year 2017 and 2018.

Link was trading at HK$55.75 this morning. His HK$10.90 price target for Fortune implies 4.6% and 5% dividend yields. Fortune was trading at HK$9.57 this morning.

Source: Barron's Asia

http://blogs.barrons.com/asiastocks/201 ... hot-rally/
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