Real estate market
Written by: Lin Leqian
2020-07-07 14:02
Date of last update: 2020-07-07 15:54The old property developer Yu Taixing's Shau Kei Wan residential project "Duhui East Grand Metro East" rented the entire building, and commissioned Midland Real Estate as an exclusive agent, involving 20 units, mainly three bedrooms and suites, intending to rent about 45 to 50 yuan per square foot The monthly rent is expected to be within 30,000 yuan.
The project involves 20 units, including 19 standard households, with a practical area of 632 square feet. It is mainly composed of three bedrooms and suites. There is also a two-bedroom suite design. There is also a penthouse complex with 1,147 square feet of practical area. Luo Shouyao, managing director of Yutaixing, pointed out that the rental pricing is cheaper than projects in the same district and is expected to attract many family customers. The company began investing in this project 10 years ago, and the price per square foot is only several thousand yuan. Even if the rent is adjusted back, the rate of return is still expected There are more than 10%, with monthly rental income of 600,000 to 700,000 yuan.
Luo Shouyao continued that Hong Kong's economy has seen a pullback before the epidemic, and residential rents have fallen back to the level of two or three years ago. He believes that the economy will not be too good in the next one to two years, and property prices are expected to remain flat or fall slightly within 5%. However, he described that the one-to-two-year market failure will not undermine the company’s confidence in Hong Kong. It is expected that the market will continue to improve in the future. It will maintain the company’s policy of "only renting, not selling", and consider the entire building when the market conditions improve. Sell.
Luo Shouyao (second from right), Managing Director of Yutaixing, said that the economy of Hong Kong has already seen a pullback before the epidemic, and residential rents have fallen back to the level of two or three years ago. (Photo by Lin Leqian)
Yu Taixing has rarely invested in land in recent years. Luo Shouyao said that in the past, the Group has mainly cooperated with large developers to invest in land, but currently there are not many small development projects, and mainland developers have joined the competition. This has led to fewer land investment opportunities. The Group will focus on private market acquisitions. , And the development of old building reconstruction projects.
After the adoption of the National Security Law in the Minato District, Luo Shouyao believes that the law is still a question of whether the economic recovery will have an immediate impact. However, the social movement has a wide impact on the overall livelihood and the market. The society needs a way to stop this unpredictable impact. Asked if he would worry about the foreign companies' investment, he pointed out that many domestic companies have returned to Hong Kong for listing, which proves that the status of Hong Kong's financial center is unbreakable. Foreign investment banks focus on money and will not easily abandon the Greater China market.
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