Irregular Reflections on the Hong Kong Property Market .

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Random Reflections on the Hong Kong Property Market. Nicholas Brooke Chairman 22 nd March 2005 Professional Property Services Limited. Menu. Outlook for the property market Chasing the tourism dollar Funding of cultural and heritage initiatives Health warnings.
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Arbitrary Reflections on the Hong Kong Property Market Nicholas Brooke Chairman 22 nd March 2005 Professional Property Services Limited

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Menu Outlook for the property advertise Chasing the tourism dollar Funding of social and legacy activities Health notices

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A More Predictable Property Market? Move from exchanging to speculation attitude More far reaching long haul way to deal with arranging and land utilize Land supply driven approach Influence of Government Re-consider lodging strategy Market to a great extent driven by basics But – Beware of euphoric conjectures

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Influence of Government Leasehold arrive residency framework Principal generator of land supply Disposals – application list framework Lease adjustments Agencies – URA/MTRC/KCRC Dependence ashore incomes Major proprietor and as of not long ago supplier of social lodging

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Market Overview – Residential Ultimate indicator of Hong Kong\'s prosperity In recuperation mode yet is it practical? Three markets inside a market Potential issues identifying with supply in 2006-2007 Vulnerability to increments in loan costs Speculation at top end

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Total Stock of Private Residential Units by Class in Hong Kong Class D (53,646 units) Class E (24,112 units) Class C (110,624 units) Class A (361,243)units) Class B (501,137 units) Classification of Residential Units by Class : Class A - saleable range under 40m² Class B - saleable region of 40m² to 69.9m² Class C - saleable region of 70m² to 99.9m² Class D - saleable region of 100m² to 159.9m² Class E - saleable zone of 160m² or more Sources: Rating and Valuation Department

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Hong Kong Residential Market (Overall) Supply, Take-up & Vacancy Sources: Rating and Valuation Department, HKSAR & PPS

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Hong Kong Residential Market Annual Price Indices (1999 = 100) Sources: Rating and Valuation Department, HKSAR & PPS

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Hong Kong Residential Market Annual Rental Indices (1999 = 100) Sources: Rating and Valuation Department, HKSAR & PPS

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The Leighton Hill, Happy Valley

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Tin Shui Wai, Yuen Long

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The State of the Commercial Markets Strengthening word related market Disconnect between word related request and venture craving Inflexibility of existing supply Future of CBD? "City" way to deal with the fascination of real space clients

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Supply, Demand & Vacancy in Prime Areas New Supply & Take-up (net sq ft) Vacancy Rate (%) * As of September 04 Source : CB Richard Ellis Limited

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Key Ingredients of a World Class City Diversity Education Employment Quality of life

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Chasing the Tourism Dollar National/city way to deal with making world class traveler goals Development of family tourism – Disneyland and Ocean Park Legalization and development of gaming Emergence of Macau as the Las Vegas of Asia

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Ocean Park

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Lack of Overall Conservation Policy Both manufactured and characteristic legacy require insurance Often piecemeal approach with no general duty or arrangement Lack of "not-revenue driven" culture or "way of life capital" mindset Need for more maintainable model on the off chance that we are to hold what is left of our legacy resources

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Muddled Approach to Cultural Activities Absence of all encompassing methodology Entrustment yet to whom? Why only a solitary group? Absence of group association in theoretical speculation Assumption that in the event that you assemble, they will come

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Premium/Return Driven Approach Presumption that property engineers are just answer for preservation and social activities Results in under ideal arrangements as designer is main concern driven Present appraisal criteria implies solid money related offer will dependably win New attitude required – destinations ought not be "sold" – they are open resources

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West Kowloon – Aerial View

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West Kowloon – Conceptual Proposal

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Former Marine Police Headquarters a legacy lodging with nourishment and refreshments outlets and retail offices for fruition in 2007 Source : Flying Snow Limited

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The Magistracy

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CPS Barrack Block

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Health Warnings (I) Continued Government inclusion Lack of significant institutional financial specialist pool Trading mindset still wins Lack of complex resource administration skill Failure to determine long haul strategy/technique issues Heritage Sustainability Urban Renewal

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Health Warnings (II) Absence of effective open and private organization demonstrate Potential instability of supply Lack of signed up intuition Need for key arranging No record yet taken of impalpable returns

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Thank You!

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Professional Property Services Limited

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