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Hong Kong Chief Executive Carrie Lam today (6 October 2021) delivered the final Policy Address of her current term. Her speech included details of a blueprint designed to solve Hong Kong’s long-term housing and land shortage problems along with plans to promote future economic integration with Shenzhen and the Greater Bay Area. No direct initiatives related to commercial real estate were included in this year’s address.

Download the report for the key highlights and implication to real estate market.

本文原載於 https://www.cbre.com/

‒ Asia Pacific governments and industry players continue to implement policies and partnerships to revive the travel and tourism industries. 

‒ While the rollout of COVID-19 vaccines is restoring some confidence in travelling and contributing to the gradual easing of travel restrictions in some markets, the situation remains highly uncertain. 

‒ Following a hugely challenging 12 months after the onset of the pandemic, investor sentiment towards hotels has improved in recent months on the back of the vaccine rollout and expectations of economic recovery. 

‒ Regional hotel transaction volume reached US$2.3 billion in Q2 2021, representing a decline of 5.1% q-o-q. Japan, mainland China, Korea and Australia accounted for the bulk of sales volume during the quarter.

本文原載於 https://www.cbre.com/

投資 

Major office deals closer to fruition (27 Sep – BT)
According to The Business Times, Hong Kong-based private equity property fund management company Gaw Capital Partners is doing diligence for Twenty Anson at around $2,900 psf on the existing NLA of about 206,200 sq ft; based on this, the deal will be nearly S$600 million. It was reported that JP Morgan has teamed up with Nuveen Real Estate to do exclusive due diligence on One George Street. Assuming the price is S$2,900 psf, the absolute quantum would amount to S$1.29 billion. Meanwhile, a transaction is also said to be brewing for ABI Plaza at 11 Keppel Road. 

Two sites at one-north’s Slim Barracks Rise beat forecasts with 10 bids each (29 Sep – BT, ZB, 30 Sep – ST)
The Urban Redevelopment Authority (URA) closed the tender for two residential with commercial at first storey land sites at Slim Barracks Rise on September 28. Land parcel A, which spans 85,648 sq ft fetched a top bid of S$320.1 million or about S$1245.7 per sq ft per plot ratio (psf ppr). The top bid came from EL Development. Meanwhile, the 63,901-sq ft land parcel B, fetched a top bid of S$162.4 million or S$1,210.1 psf ppr from Gao Xiuhua.

Marina View white site awarded to IOI Properties for S$1,508b (30 Sep – ST)
The site at Marina View is awarded to its sole bidder, a unit of IOI Properties Group, for S$1.508 billion. That works out to a land rate of $1,379 psf per plot ratio (psf ppr). The white site can yield 905 private homes, 21,528 sq ft in gross floor area of commercial space and 540 hotel rooms.

URA launches residential sites at Lentor Hills Road, Jalan Tembusu for tender (1 Oct – BT, ST)
The Urban Redevelopment Authority (URA) has released for sale three residential sites at Lentor Hills Road (Parcels A & B) and Jalan Tembusu under the 2H/2021 government land sales (GLS) programme. The sites at Lentor Hills Road (Parcel A) and Jalan Tembusu are launched for sale under the confirmed list, while the site at Lentor Hills Road (Parcel B) is available for application under the reserve list.The sites at Lentor Hills Road (Parcel A) and Jalan Tembusu can potentially yield 595 and 640 units respectively, while the site at Lentor Hills Road (Parcel B) can yield 265 units.

零售

Turf City tenants granted final 18-month extension until end-2023 (1 Oct – ST)
A final 18-month extension has been granted to tenants at Turf City until December 31, 2023, said the authorities on September 30. According to the Singapore Land Authority (SLA) and URA, development plans for the Turf City site are being studied, with land preparation works scheduled to start after December 31, 2023.

The site currently has 15 tenancies, including retail, food and beverage, and sports and recreation businesses, as well as childcare centres and motor vehicle showrooms. The original tenancies were for periods up till December 31 last year.

工業的

WarnerMedia opens regional hub in Singapore (25 Sep – ST)
Major media company WarnerMedia has opened a regional hub in Singapore and will be launching its premium HBO Max platform in Asia. The new 40,000-sq ft office takes up two floors at Solaris.

Savills in the Press

URA launches residential sites at Lentor Hills Road, Jalan Tembusu for tender (1 Oct – ZB)
Zaobao featured an article on the three residential sites at Lentor Hills Road and Jalan Tembusu released under the 2H/2021 GLS programme.

Savills Singapore executive director Alan Cheong commented that the site at Lentor Hills Road (Parcel A) is likely to attract around eight bids, while the larger site at Jalan Tembusu could receive six bids. If Lentor Hills Road (Parcel B) is triggered, he expects to see around 15 bids with more smaller developers bidding for the site.

本文原載於 https://www.savills.com/

The latest Asia-Pacific Property Value Movement Report Autumn 2021 is out now! This report aims to provide asset owners and investors the latest perspectives and insights on the performance of property asset values across Asia Pacific.

Some Key Takeaways from the report:

• Among the 22 markets in Asia-Pacific, 69% of sectors expect values to rise / remain stable in H2 2021.
• The high-tiered Industrial market expected an increase in H2 2021.
• Australia and New Zealand are of the highest proportion of sectors with increasing or stable values in H1 2021.

With capital remained abundant while financing costs across most of the region maintained at or near record lows, we expect asset values to continue holding up, which could firm further as the gathering pace of vaccinations shore up occupier markets in the region.

We hope you find the report of interest and as always, we welcome any enquiries you may have.

本文原載於 https://www.knightfrank.com/

2021 年第三季辦公室租金觸底回升

租金和佔用率

• 萊佛士廣場/濱海灣區的優質級寫字樓租金自2019年第四季以來首次出現增長，租金按季上升0.2%至每月每平方呎9.98TP4T。寫字樓租金於 2021 年第三季出現轉機並觸底反彈，原因是該區優質寫字樓的出租率保持相對穩定，按季微跌 0.7 個百分點至 93.6%，較 2021 年第二季錄得的 0.1 個百分點增長略為逆轉。.
• 隨著寫字樓租賃市場出現確實的改善跡象，2021 年第三季的預終止可用面積環比下降 78.9%，從 2021 年第二季估計的 360,000 平方呎下降至 2021 年第三季的約 76,000 平方呎。影子空間的減少在意料之中，因為企業持續追求優質，在租金開始大幅上漲之前，利用難得的機會搶購通常已被完全佔用的優質建築中的優質空間。.

本文原載於 https://www.knightfrank.com/

自 COVID-19 疫情爆發以來，亞太地區物流業表現強勁，原因在於電子商務滲透率加快、全渠道零售的發展，以及採購和庫存地點的供應鏈策略不斷演變。.

隨著物流業的增長勢頭沒有放緩的跡象，世邦魏理仕最近進行了首次亞太區物流業佔用人調查，以確定未來幾年影響該行業的趨勢，並幫助追求長期可持續增長的佔用人和投資者制定策略。.

報告指出佔用人對業務增長前景的樂觀態度；概述佔用人尋求優化其投資組合和營運的適當策略；以及下一代物流設施的概況。本報告還分析了對希望增加亞太地區物流房地產投資的佔用者和投資者的影響和機遇。.

本文原載於 https://www.cbre.com/

儘管近年來海外遊客激增帶動入境需求快速成長，但日本的零售與飯店市場仍絕大多數由國內需求帶動。.

因此，雖然入境旅遊業的復甦仍需一段時間，但如果國內需求回復，日本可說是具有快速復甦的潛力。.

世邦魏理仕認為，內需復甦指日可待，被壓抑的需求因消費受抑及政府提供的各種福利及獎勵措施而穩步累積。. 

這種需求很可能會以高端商品和服務消費的形式出現，這種趨勢對日本的零售和酒店業，尤其是高端市場來說是個好兆頭。.

本文原載於 https://www.cbre.com/

H 1 2021 年的交易量接近過去五年的六個月平均值

辦公室和工業銷售領導新西蘭市場 1 億元以上的最大銷售額前三名均為辦公室資產

空置土地/開發用地的銷售量有所提升

以新加坡為基地的投資者是最活躍的離岸群組，馬來西亞和澳洲買家的投資比例較小。

投資活動以私人買家為主 52，其次為機構 34 及財團 7，但私人為淨賣家，而機構及財團則為淨買家。

本文原載於 https://www.cbre.com/

• 相較於過去三季平均超過 3,500 個單位的推出量，開發商在 2021 年第二季放緩腳步，共推出 2,356 個私人住宅單位。.
• 由於新推出的車型較少，2021 年第二季的新車總銷量較上一季減少 15.1%，至 2,966 台。.
• 第二季二手市場的銷售勢頭持續回升，總轉售量按季上升 19.0% 至 5,483 個單位的歷史新高。.
• 市區重建局 (URA) 的住宅物業價格指數在第二季上升 0.8%，較第一季的 3.3% 季度升幅放緩。這主要是因為有地住宅的價格在第二季以 0.3% 的季度跌幅結束了其短暫的成長，而無地住宅在第二季則以 1.1% 的季度升幅放緩。.
• 第一太平戴維斯的一籃子高端非土地私人住宅項目的平均價格在第二季度也出現了溫和增長，每平方呎按季增長 0.4%，至每平方呎 S$2,434。.
• 除非中國恆大出現嚴重疫情，否則 2021 年的價格預計將按年上漲 5.5%，2022 年再上漲 5%。.

本文原載於 https://www.savills.com/