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Doing less for the right timing
Damon Ho
13th May 2023
Since the rebound of the residential properties market in the first quarter, the transaction volume of second-hand properties has been reducing significantly in second quarter. The developers adjusted down the sales price of the first-hand properties to attract the buyers. As a result, the price difference between first-hand and the second-hand properties were drawn closer, so some second-hand properties buyers were naturally absorbed by the first-hand properties market. As the first-hand properties' inventory is still large, the developers will remain the lower pricing strategy to maximize the sales volume until the third quarter.
Although the US stocks' prices had rallied, bullish momentum has been weakening until recently. In addition, three US banks were winding up, this episode will surely damage the attractiveness of US stock market. Moreover, US real estate prices start to adjust down due to the long-term interest rate hike. So, it is inappropriate to enter the inactive market looking for investment opportunities at this moment.
In Hong Kong,  the stock market performs weakly since the beginning of this year. In fact, the previous well-performed of the internet technology stocks have lost upward momentum because the major shareholders have been reducing their holdings and the economic downturn leads to lower incomes. Nevertheless, it is difficult for these stocks' price to rise to a higher level soon. Regarding listed property companies, their shares prices have also been weakening by the low sales incomes since the outbreak of pandemic. For dividend stocks, most of the return on investment have been reduced, and even if a handful of stocks can keep the dividends, the share prices have fallen sharply, so that the retirees depending on the dividends will face a tougher environment.
Large listed real estate companies, its property portfolio still have high occupancy rate due to its sound quality and convenient location. For those non-listed real estate companies, many of them are over-invested in big projects resulting in excessive debts in recent years. Besides, their property portfolios are less desirable so that the rental incomes have dropped seriously. Consequently, those companies must sell their properties to reduce debt for survival.
For personal investment, it is difficult to have a clearer direction now. Therefore, the funds you still hold may only being used for fixed deposit to fight against inflation. As for the sluggish residential properties market, it may not show a clearer direction until the third quarter.
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1. 旺角一線租金叫價升1.9倍 2023-05-13 16:50:44
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本港自3月1日起取消所有社交距離措施及口罩令，市場對口罩需求大減，近3年支撐核心零售區舖市的口罩店亦逐一退場。一家口罩店去年長租旺角一線街西洋菜南街地舖兩年，豈料口罩令突解除，該店亦提早逾一年退租。有見零售漸復常，業主隨即以每月80萬元放租該舖，租金不僅較原租金大幅增加近1.9倍，而且更超越疫情前水平。 上述舖位為西洋菜南街2T號添置商業中心地下，建築面積約1500方呎，舖位過去兩年多都由口罩店承租，2020年聖誕節前以短約形式租予Mask Factory，月租約15萬元，呎租約100元。該品牌租用約一年半後，舖位在去年6月改由Vannex Mask租用，據悉月租達28萬元，呎租約187元，加租達86.7%，並且一簽兩年長租約。
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2. Opus Hong Kong open tender for sale 2023-05-14 09:38:27
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A residential unit located on the fifth floor of Opus Hong Kong has been put for sale. The property’s marketing agent, SAVILLS, will be selling the unit via an open tender that will be closed at noon on 8 August. It will be sold on an "as is" basis with non-vacant possession. The unit comes with two parking spaces and comprises five bedrooms, of which four are en-suites, a study room, a living room, a dining room and a kitchen. Its total saleable area is 5,154 square feet. “The open-plan design and a ceiling height of over 4 metres give a sumptuous feeling of spaciousness while being the only unit of the entire floor ensures the highest level of privacy for the owner,” Savills added.
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3. Top 20 Most Attractive Companies for workers 2023-05-15 11:25:35
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Employees in Hong Kong no longer find working for commercial companies such as Credit Suisse, Bloomberg, and New World Development, Randstad's“Top 20 Most Attractive Companies to Work for in Hong Kong SAR” list revealed. Companies which made it to the list are Bank of America Merrill Lynch, Disneyland, Goldman Sachs, HK Electric, Hong Kong Monetary Authority, IBM, J.P. Morgan, Kering, LVMH, Morgan Stanley, Richemont, Sun Hung Kai Properties, Swire Coca-cola, and The Hong Kong and China Gas Company (Towngas). Last year’s top three most attractive companies to work for Swire Properties, Hong Kong Jockey Club, and CLP Power Hong Kong Limited made it anew in the list.
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4. HK sees 2.9 million visitors in April 2023-05-16 09:28:06
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The Hong Kong Tourism Board announced on Monday that 2.89 million visitors came to the city last month, an 18 percent increase from the previous month. The daily average figure of the month is also equivalent to 58 percent of pre-pandemic volume. The board said most visitors in April came from the Mainland and Southeast Asia. “With the last weekend of the month preceding the Labour Day Golden Week, number of Mainland visitors showed a remarkable increase. For other markets, with the Easter holidays and the end of Ramadan, visitors from Southeast Asian markets also recorded a relatively large increase,” it said.
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5. Warren Buffett’s conglomerate sold shares in TSMC 2023-05-16 21:18:18
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Warren Buffett’s conglomerate has sold its remaining shares in the world’s largest chipmaker, TSMC, after the “Oracle of Omaha” sounded alarms about its homebase of Taiwan. In a Monday filing, Berkshire Hathaway (BRKA) disclosed that it was no longer holding a stake in Taiwan Semiconductor Manufacturing Company (TSM) as of the end of the first quarter.
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6. HK needs more senior living places 2023-05-18 10:01:00
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Real estate expert, JLL, has called on the Hong Kong government to encourage more developers to build more senior living places in the city. The call came in light of the expected increase of the city older population by 46.3% in the next decade. In a report, JLL warned that the city will face a shortage of over 60,000 suitable elderly places by 2032.
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7. unemployment rate dropped to 3 percent 2023-05-19 09:22:20
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Hong Kong's latest unemployment rate continued its drop to 3 percent between February and April, with about 110,000 citizens still hunting for jobs. The Census and Statistics Department's data released on Thursday showed the latest rate marked a 0.1 decrease compared with the one recorded between this January and March. Total employment increased by around 1,800 to 3,655,900, and the labor force also increased by about 1,100 to 3,770,300.
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