2 01 6 香港物業報告 Hong Kong Property Review 2016 本報告回顧 2015 年香港物業市場的活動， 並預測 2016 及 2017 年的樓宇落成量。 A review of the Hong Kong property market for the year 2015 with forecast of completionsp for 2016 and 2017 差餉物業估價署署長 鄧炳光太平紳士 2016年4月 PK TANG, JP Commissioner 差餉物業估價署 Rating and Valuation Department Rating and Valuation Department April 2016 目錄 Contents 序言 Foreword 03 綜觀 Overview 08 評論 - 私人樓宇 Commentary on Private Developments 住宅 Domestic 16 整體 Overall 中 / 小型單位 Small / Medium Units 大型單位 Large Units 寫字樓 Off ice 30 整體 Overall 甲級 Grade A 乙級 Grade B 丙級 Grade C 商業樓宇 Commercial 48 工業樓宇 Industrial 54 分層工廠大廈 Flatted Factories 工貿大廈 Industrial / Off ice 特殊廠房 Specialised Factories 貨倉 Storage 技術附註 Technical Notes 64 圖表 Tables 78 附錄 Appendix 各區域及地區 Areas and Districts 分區圖 Plans 寫字樓分區圖 Off ice Sub-districts Plan 序言 Foreword 私人住宅 Private Domestic 私人寫字樓 Private Off ice 私人商業樓宇 Private Commercial 私人工業樓宇 Private Industrial 《香港物業報告》載錄差餉物業估價署 The Hong Kong Property Review presents property 在每年年底所編製的物業數據與資料。 data compiled by Rating and Valuation Department 有關落成量、使用量∕入住量、空置 at the end of each year. Information on completions, 量、售價和租金的資料，除詳載於正文 take-up, vacancy, prices and rents is reported in text 外，並會另表列明。報告所預測的落成 and tables. The Review also shows forecast completion 量是根據發展商與建築師所提供的資料 figures based on information obtained from developers and 推算。本署並藉著視察及在預測期初所 project architects, supported by development progress 進行的調查，瞭解發展進度和蒐集有關 inspections and enquiries at the beginning of the forecast 資料，以求得出更可靠的預測數字。報 period. These forecast figures are on a calendar year 告內所載的預測數字均以曆年計算，因 basis and may be different from those compiled on a 而或會與載於其他政府刊物並以財政年 financial year basis in other Government publications. 度計算的數字有所不同。 由於物業發展的進程受很多因素影響， It should be borne in mind that many factors affect the 而且在隨後的一年內，無可避免地會出 progress of developments, and changes in the ensuing 序 現一些變化。因此，本署只能在編製下 year are inevitable. Revisions are only to be expected 一份報告時修訂預測數字。修訂的幅度 in subsequent reviews. The degree of revision depends 言 主要是根據市場的情況而定。 principally on market conditions. 本署在年底進行調查，包括向大廈管理 In compiling statistics on vacancy, a survey is conducted at 處蒐集空置物業數據，或派員實地視 the year-end to obtain vacancy data from the management 察，以編製物業空置量的統計數字。對 off ices or by inspection. The assistance given by the building 於物業管理公司∕人士就物業空置情況 management companies/personnel in providing vacancy 提供協助，本署謹致衷心謝忱。 information is gratefully acknowledged. Foreword 報告所回顧的年度最後數月的有關租金 With regard to rents and prices, readers should note that 和售價數字均屬臨時性質，有待收到進 the fi gures for the last few months of the year under review 一步資料後再作分析。市民可透過本 are provisional, pending receipt of further data for analysis. 署網頁(網址:www.rvd.gov.hk﹚或24小時 Updated fi gures can be obtained free of charge from the 自動電話資訊服務附設的資料傳真設施 Department’s website at www.rvd.gov.hk or by using the ( 2152 2152﹚，免費取得各項最新的數字。 fax-on-demand facility of the 24-hour automated telephone hotline at 2152 2152. 序言 3 Foreword 《香港物業報告》所載的住宅單位總存 It should be noted that the stock of private domestic 量，基本上包括所有設有專用煮食設 units in the Review includes basically all independent 施、浴室和廁所的獨立居住單位，但不 dwellings with an exclusive cooking area, bathroom 包括村村屋、解放軍轄下宿舍、公用事業屋 and toilet. The numbers do not include village houses, 機構物業的附設宿舍、私營機構宿舍(包 quarters held by the People’s Liberation Army, quarters 括教育院校的學生宿舍)、醫院管理局轄 attached to premises of utility companies, dormitories 下的宿舍，以及酒店和旅舍。有關政府 (including student dormitories in educational institutes), 資助房屋單位、公共租住屋邨和政府宿 quarters held by the Hospital Authority, hotels and 舍的統計數字並不包括在本報告內。 hostels. Statistics on Government-subsidised housing units, public rental estates and Government-owned quarters are not included. 本報告只涵蓋私人樓宇類別的統計數 The Review is now confi ned to the private property sector. 字，而不再編製政府、房屋委員會及房 Statistics on public sector developments, both domestic 序 屋協會所擁有的公共房屋(包括住宅及非 and non-domestic, owned by the Government, Hong Kong 住宅)的統計數字。 Housing Authority and Hong Kong Housing Society, are no 言 longer compiled. Foreword 有關本報告所用詞彙的定義及各項數字 Defi nitions of the terms used in the Review, and details of 的計算方法，可參閱64至 75頁的「技術 how the various figures have been arrived at can be found 附註」。 in the Technical Notes on pages 64 to 75. 4 序言 Foreword 如有查詢，可聯絡本署技術秘書(物業資料)： Any enquiries should be directed to the Department’s Technical Secretary (Information) at : 地址 : 中國香港 Address : 15th Floor, 九龍長沙灣道 303 號 Cheung Sha Wan Government Offices, 長沙灣政府合署 15 樓 303 Cheung Sha Wan Road, Kowloon, Hong Kong, China 電話 : 2150 8807 Telephone : 2150 8807 圖文傳真 : 2152 0138 Facsimile : 2152 0138 電郵地址 : [email protected] E-Mail : [email protected] 網址 : www.rvd.gov.hk Website : www.rvd.gov.hk 序 言 各界人士均可轉載本報告的內容，但在轉 There is no objection to the reproduction of this Review 載時須註明資料是來自香港特別行政區政 provided that the source of the data is acknowledged as 府差餉物業估價署。 being Rating and Valuation Department, the Government of the Hong Kong Special Administrative Region. Foreword 香港特別行政區政府差餉物業估價署已盡 Every effort has been made by the Rating and Valuation 力確保本報告內容為最新及準確無誤。對 Department, the Government of the Hong Kong Special 於本報告內容上的任何誤差或遺漏，或因 Administrative Region to ensure the update and the 使用本報告的任何資料，或根據此等資料 accuracy of the contents of this Review. The Government 所作的任何意見而可能直接或間接引致的 of the Hong Kong Special Administrative Region and 任何損失、行動或不行動，香港特別行政 the Rating and Valuation Department do not accept 區政府及差餉物業估價署概不負責。 responsibility for any errors or omissions in this Review, or for any loss, action, or inaction, whether directly or indirectly, arising from the use of, or for advice based on, any information therein. 序言 5 Foreword 環球經濟疲弱之際，香港經濟在2015年 Amid the weak global economic condition, the Hong Kong 錄得2.4% 溫和增長，略低於2014年的增 economy registered a moderate growth of 2.4% in 2015, 幅。年內股票市場大幅波動。通脹率連 slightly slower than 2014. The stock market fluctuated 續第四年回落，由2014年的3.5% 下降至 wildly during the year. Underlying inflation eased the fourth 平均2.5% 。失業率維持在3.3% 的極低水 consecutive year averaging at 2.5%, down from 3.5% in 2014. 平，收入情況大致穩定。 The unemployment rate stayed at a very low level of 3.3% and the income condition was broadly stable. 住宅物業市場於2015年 2 月推出進一步的 The residential property market cooled off after further 收緊按揭措施後冷卻下來。在人們對美 mortgage tightening measures were rolled out in February 國加息的憂慮升溫、本港股票市場有所 2015. With growing concerns over US interest rate hike, 調整、以及環球經濟增長放緩下，住宅 market correction in the local stock market and slowdown 物業售價和租金在9 月見頂後回落。儘管 of growth in the global economy, both flat prices and rents 住宅物業售價和租金在最後一季有顯著 peaked in September and fell thereafter. While there had 調整跡象，住宅物業市場供求失衡情況 been notable signs of moderation of prices and rents in 依然持續。物業售價仍然超乎普羅市民 the last quarter, there remained supply-demand imbalance 綜 所能負擔的水平。市民的置業負擔比率 in the housing market. Property prices remained at levels 在第四季維持在約62%的高位，遠高於 beyond the affordability of the general public. The home 觀 1995至 2014年期間46% 的長期平均數。 purchase affordability ratio stayed high at around 62% in the 政府決意解決住屋問題，讓私人住宅物 fourth quarter, significantly above the long-term average 業市場維持健康平穩發展，目前無意撤 of 46% over 1995-2014. Determined to tackle the housing Overview 銷需求管理措施。 problem and maintain a healthy and stable development of the private residential property market, the Government has no intention to withdraw the demand-side management measures for the time being. 所有非住宅物業市場亦在2015 年第四 The momentum of all non-residential property markets 季失去上升動力。「一周一行」個人遊 was also lost in the fourth quarter of 2015. With weakening 簽注於4 月實施後，訪港旅客人次進一步 visitor arrivals which were further dampened by the impact 減少，加上零售業總銷貨額下跌，令零 of the “one trip per week” Individual Visit Endorsements 售業樓宇售價和租金受壓，在第四季開 introduced in April and declining total retail sales, retail 始下調。年內寫字樓和工業樓宇物業市 property prices and rents were under pressure and started 場亦有所冷卻。 decreasing in the fourth quarter. The office and industrial property markets also cooled off over the course of the year. 2016年環球經濟發展情況頗為不明朗， The global economic development in 2016 is rather 內地經濟增長步伐亦可能放緩。本港經 uncertain. The pace of expansion of the Mainland economy 濟和物業市場在早已受到「一周一行」 may also be slow. Our local economy and property market, 個人遊簽注的實施、美國在2015年底加 which are already clouded by the implementation of “one 息，以及本港股票市場波動的影響下， trip per week” Individual Visit Endorsements, the hike of US 將無可避免地面臨愈來愈大的壓力。政 interest rate at the end of 2015 and volatility of local stock 府會保持警覺和審慎，並參照一系列指 market, will inevitably be facing increasing pressure. The 標，包括樓價、市民的置業負擔比率、 Government will remain vigilant and prudent, and continue 成交量、住宅物業供應量，以及本港和 to closely monitor property market movements and ever- 環球經濟發展情況，繼續密切監察物業 changing external conditions, with reference to a series 市場動向和不斷變化的外圍情況。 of indicators including property prices, home purchase affordability ratio, transaction volume, flat supply and local and global economic developments. 88 綜觀 Overview 住宅物業 Residential 住宅物業市場在2015 年上半年大致保持 The residential market stayed generally buoyant in 暢旺。在2015 年 2 月推出第七輪物業按揭 the first half of 2015. Sales of residential property 貸款業務的監管措施，以提升銀行的風 showed signs of contraction after the introduction of 險管理和抗震能力後，住宅物業的買賣 the seventh round of supervisory measures on property 開始有放緩跡象。人們對美國加息的憂 mortgage to strengthen banks’ risk management 慮升溫、本港股票市場波動、加上環球 and resilience in February 2015. Underpinned by the (包括內地)經濟增長放緩，令整體住宅 growing concerns about US interest rate hikes, volatility 物業售價在上半年的升勢逐漸放緩，至 of local stock market and the slowing down of growth 10月回落。成交量逐漸下跌，並自本署 in the global economy including the Mainland’s, overall 於 2002 年開始公布土地註冊處的住宅買 flat prices increased at a slower pace gradually in the 賣數據以來，首次於11 月跌至3 000 宗以 first