Denzity Insights Transcript: Hong Kong Real Estate: COVID-19 Impact and Outlook with Simon Yu


Hong Kong Real Estate: COVID-19 Impact and Outlook with Simon Yu

Connect with Simon Yu:

LinkedIn: https://www.linkedin.com/in/simonyu89/

Hong Kong Real Estate: COVID-19 Impact and Outlook with Simon Yu

The real estate sector has always played a major role in Hong Kong.  The city is one of the world’s most densely populated places in the world and is a part of the Greater Bay Area (“GBA”).  In recent years, the city has been facing multiple crises and challenges, politically, socially and economically; various degrees of uncertainty appears to be rising to all residents and different stakeholders regarding the Hong Kong property market.

Today’s episode with Simon presents a concise view of the latest Hong Kong real estate situation as he shares his observations and opinions on the new strategies adopted by landowners, investors or future investors in Hong Kong. 

Simon Yu is a real estate broker in Hong Kong.  He has been in the Hong Kong real estate brokerage business for almost a decade and is now focusing mainly on investment/development projects working primarily with institutional clients including developers, real estate funds as well as family offices.

  • What does the future hold for Hong Kong real estate market?
  • How are the stakeholders dealing during the crisis?
  • Which entities are still looking into investing in Hong Kong property industry and why?
  • Are there specific areas to look into in terms of investing in Hong Kong?
  • What challenges should investors be prepared for?

As it can be difficult to catch some minor errors, transcripts may contain a few typos or inaccuracies.

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Alright, let’s get back to the transcript of the show. Enjoy!

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Sources:

Greater Bay Area:

The Greater Bay Area is a megapolis that consists of nine cities from Guangdong province, a province situated in Southern China, along with two special administrative regions, HongKong and Macau. It is also known as the Pearl River Delta. The concept is a scheme by the Chinese government to deepen the cooperation between the involved regions as well as developing the nation’s economy.

https://www.bayarea.gov.hk/en/about/overview.html

Real Estate Broker:

A real estate broker is a step above a real estate agent. A broker generally has more training and subject-matter education than an agent, but not always. A real estate broker can work independently or hire real estate salespersons to work under them. The exact rules can vary among countries, but most have somewhat similar requirements.

https://www.thebalance.com/real-estate-broker-and-agent-1798869

Institutional investors:

An institutional investor is a company or organization that invests money on behalf of other people. Mutual funds, pensions, and insurance companies are examples. Institutional investors often buy and sell substantial blocks of stocks, bonds, or other securities and real estate investments. The group is also viewed as more sophisticated than the average retail investor and, in some instances, are subject to less restrictive regulations.

https://www.investopedia.com/terms/i/institutionalinvestor.asp

Capital market:

The capital market is a venue where entities are united to exchange their financial products. These entities can be a company, business, a group of people or government. The exchanges mostly occur between two parties, with one party being the investors or suppliers of capital, and the other being those in need of capital. The most typical capital market is the stock market.

https://www.investopedia.com/terms/c/capitalmarkets.asp

CBD (Central Business District):

CBD refers to a certain part of a city with a lot of businesses within. Although this specific part is often the city centre, it can be away from the centre to anywhere in the city, as long as the place has a convenient transportation route. CBD has a large number of offices, banks, and other high-rise buildings. It is also known as a “financial district”.

https://www.designingbuildings.co.uk/wiki/Central_business_district_(CBD)

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Darren: Hey Simon, welcome to the show.

Simon: Hey, Darren, good to see you. 

Darren:So for the audience that’s tuned in. So Simon and I have been friends for quite some time. And we have never had this kind of format to talk about his skill sets and experience and everything. So, Simon, thanks for coming in because it’s something that I’ve always want to ask you more about.

Simon: Of course, thanks. Thanks for having me on the show. Good opportunity. Happy to share.

Darren: That’s good. So when we begin, would you mind telling the audience more about yourself and your work? 

Simon: Yeah. Hi, everyone. I’m Simon, your Real Estate Transaction Specialist currently working in Hong Kong. I’ve been in the real estate brokerage business for almost a decade now. Currently spending most of my time on investment/redevelopment deals, and working with institutional clients. I actually focus on dealing with family offices and also real estate funds. And a little bit of my personal background, I was born in Hong Kong and grew up in Toronto and Canada. I’ve spent, I think, likewise to you similar background, Darren, I spend a reasonable time in both West and East parts of the world. Having decided to return to Asia after my studies, I, my passion has always been meeting new people, and building meaningful relationships. And it’s extremely satisfying when you are, I guess, able to learn new skills engage, engaging like minded individuals throughout the journey. Hence I think today have this lovely interview with your new mentor, so thank you. Thanks for the opportunity. 

Darren: That’s good. No worries. I mean, a lot of people in the industry knows who you are already so I’m sure everyone wants to know more about your information anyway. 

Simon: Yeah I mean some.

Darren: No, no, you’re very humble. But first of all right because a lot audience might not understand what a commercial real estate agent is. Would you mind telling the audience what’s a typical day like for you like a commercial real estate agent? And what do you do in a daily basis?

Simon: Sure. Thank you. Well, I guess to start off further on an introduction, I happen to have an opportunity, fortunate enough to deal with different clients. So when I first came back from I guess, returning to Asia, I specialized more in the leasing sector. And now in the capital markets team, so more on the institutional clients. So I guess a typical day as a broker, meeting clients, connecting with individuals, so dating back, I think, staying relevant with the market and connecting with the clients. That will be my short answer for my hat in the capital markets sector. So, sizable transaction if you will, anything relating with real estate be that a you know, some sort of tenants movement or new developments in the city because I specialize in Hong Kong of course, and capital investments like especially in the equity market, so, stock market also do have some impact. So, I would say to channel the right messages to the proper audience in order to create value would be my objective. So, you know, physically speaking, because we have, you know, the new office, you know, we have now agile working ABW. So, you know, a typical day talking to different people, communicating with different colleagues in various lines of businesses, and, you know, coming into the office and going out to meet clients, I would say will be a typical day for me.

Darren: So would that be fair to say that like your role is a connector, and if a landlord or a funds or a buyer or seller want to know more about what’s going on, you’ll be the person that people will talk to you and say, “Hey, what’s going on?” And then what kind of service exactly like when you say like, connecting, what does that even mean?

Simon: Yeah, I’m mean, connecting just like what we’re doing now. Right? I would say the fundamental would be the education part. So what are some relevant things that are relevant? So say, for example, you have a property residential property, in Hong Kong, then most likely, you will want to understand what developments that will be happening around your area, you know, who has been investing and who will be or currently looking to invest around I think those are the topics that I would be referring to. So I would say you yes, a connector a new sense thats relating to all real estate aspect. Does that answer your question? You know, that makes sense?

Darren: Yeah its fine. I just for like— cause you know, my background, I used to work in real estate fund so I kind of understand how it’s like, but then for the audience they might not understand like, you know, it’d be hard to grasp but we can go back a little bit later on. And then something that I want to ask you to personally is because we’re both in Hong Kong and Hong Kong has been having a lot of ups and downs for the past, you know, a couple months. How does it affect the real estate market?

Simon: Well, short answer, the increase of uncertainty that grows, I guess, across the board, right. For people living here, for people who plan to come in, I think the uncertainty has been increasing in the investment market, it’s probably not a good thing to have right? Again, I believe there’s always good and bad for everything. There’s always opportunities in every market, though it may be tougher to seek opportunities in general right now. So we have been faced with tough times. You’re right, in the past month, and I guess, almost a year now, right. Since the trade war, and then we have the social unrest, and now the COVID-19 situation. So my opinion is that the business and individuals will probably need some time to be more, I guess, adaptive and creative and collaborative, relatively speaking, compared with other financial cities in the world, Hong Kong, do still have, in my opinion, strong fundamentals, with the supports, the talents, you know, mixture of east and west. I don’t think in other competing cities we’ll be, you know, having those elements just like that. So I still believe in the system and the place so well, it’s a matter of time that will sort of bounce back again.

Darren: Hmm. I see. So in terms of the real estate, capital inflow and outflow of Hong Kong how has it changed since the change of sentiment?

Simon: I guess that’s a very good question. Inflow, due to uncertainty, as I was saying, definitely has impacted. Businesses are more cautious to come in. So slower inflow definitely. From what we said just earlier, trade war and social unrest, I would say it’s a little more political now. Some of the positions, as you are probably aware. 

Simon: So since I guess, when you talk about the change of sentiment, right, COVID-19 is sort of like the global pandemic, so it’s probably not a significant impact compared to the other two as people are less mobile for the traveling restriction, that also will impact the inflow of capital. I guess the main challenge for Hong Kong, since we’re at a very, I guess, geographically in a very compact place, we have a very few great real estate opportunities. And compared to perhaps like Singapore, similar to other tier one cities, price gaps are usually wide for core assets, so that creates some challenges for investors. You know, people who have deep pockets or would be would be the ones that look at Hong Kong. So, in terms of outflow, though, we have been witnessing, you know, diversification through expansion overseas, family offices and local developers have been taking advantage of a situation like Brexit in the year or two years prior to overseas opportunity. So for institutional clients, I still look forward to deals coming in and out to Hong Kong and they’re in a mid to short term because Hong Kong being the you know, still the gateway non Asia funds still want to enter the China market as well main Chinese funds and developers are looking to expand overseas so Hong Kong relatively speaking would probably be beneficial.

Darren: I see, that’s pretty good to kind of give people a picture of what’s going on here. So I want something that focuses— because you know there are a lot of things happening for the past couple months right? Let’s focus on the virus situation because that’s something that even to me I’m kind of curious like how does a landlord or estate owner react to the situation now? What did they do to help out the whole society because of the whole virus pandemic?

Simon: Sure. I think you have, first of all you if I were to paint a picture, you have different scales of ownerships, right. So you have small tenants, I mean, small landlords, big landlords, ie., portfolio landlords. So, for COVID-19, especially, I would say most landlords think it is a temporary, you know, circumstance or scenario. I think Hong Kong being a very resilient city, after the fact that we have gone through SARS, in 2003. We have been actually quite, you know, agile in terms of, I guess, agile and strong ond adaptive on the whole Covid situation, if you were to ask, right. So, like you hear in the news, retail hospitality sectors has been impacted negatively. Quite, quite significantly, actually. So some landlord has been quite supportive, to restructure and you know, for rent reduction and whatnot. So especially, I would say, you know, going back to smaller scale landlords, so, for portfolio landlords where you have people or companies who have  baskets or assets around the region because they’re listed, and due to the fact that residential sales has also been impacted somewhat so they have been— we have been, I guess, witnessing some dispose or some intention to dispose the non core assets across Hong Kong. So that actually created opportunities for some end users/occupiers who now could have the opportunity to own their real estate, right. So say, for example, a family office, then now could not just lease an office, they could have their own office in Hong Kong. So that actually brings some good news to some individuals who of course, again, going back to the point that they have sufficient cash to do so. So in summary, I would say the virus enables landlords to rethink their real estate strategy to consolidate or reallocate where they want to do their businesses.

Darren: I think that’s a pretty good picture for all of us. In that regard, right in terms of people seeing opportunity in Hong Kong, what type of people are coming in when it comes to like investors or tenants? What is their background or nationality, was the— you know where they came from? Do you have any kind of suggestions or pointers on that?

Simon: Right. As I said, I guess in my points earlier, I would say institutional clients are still strong. They still have interest in coming to Hong Kong. Especially now they have been seeing some adjustments on some smaller scale landlords. So, for example, you have older buildings where it’s just owned by a family. They may want to pass down— whatever the reason that they have to let go or dispose their assets, then now the institutional clients would be able to find that opportunity to come into the market. So, I would say primarily institutional clients and also mainland background clients. In terms of tenants, I would say I was again working in the leasing sector, I think any businesses we are driving value right. So, anything relating with community, so also the medical sector, I think, things that you could use or that you need, I would say those are the main things that have been supporting the market.

Darren: Okay, so in turn let’s go back a little bit in what you said just now, institutional firms who are coming in, are they usually for self use or do you see it as an investment to lease out?

Simon: Right, interestingly, I think they would I mean for family offices definitely they are taking an advantage of the geographical location whereby they could do the businesses here and also the tax situation right. So, I think short answer would be for investment entering into the Asia market diversifying their funds.

Darren: I see is there like a few areas that you think in Hong Kong you are more interested in in that scale?Because obviously we talked about like — you can be a retail investor, you can be institutional, or family office, like for example, your clientele tend to be institutional firms and family offices, so is there a certain region in Hong Kong that they tend to be interested to come in because of the whole thing with the virus situation?

Simon: For sure, for sure. I would say core core those are the areas that they tend to focus on. So, anything that is more resilient is the thing that they— and also the lease tenure. So the government lease. So, I mean, in a smaller, I guess more practical example would be anything that perhaps in Hong Kong Island where which you have triple nine year lease, those may probably be something more attractive in comparison to  somewhere in decentralized area Kowloon but of course, there are some interesting— you know when you talk about investment It’s just also about returns right. So, if you have tenants who are going into places like in Kowloon east, we still have been seeing more interest due to of course, the emerging CBD 2 or already established CBD 2. So, you know, Kowaniese, location, Hong Kong Island, prime location in Kowloon are always something that investors are interested on. I would say in terms of sector because of the Covid situation, retail has definitely been coming down. So, right now some interests are drawn towards some people, owners who are suffering but of course, some of these opportunities are not really cheap or a cheap in a sense that you still need some negotiation to come in to capture the right timing so price gap is still a topic that we always need to focus on.

Darren: I see right, no that’s good because even I’m learning. I’m not that familiar with— I live here but I’m not that familiar with the real estate here. Also, I know that you mentioned CBD 2 and I only learned about what CBD one two and three means. From a conference I went last year ULI conference so would you mind explaining to the audience like in within Hong Kong, CBD 1 2 3 what are those areas and why is it important to learn about those kind of different areas.

Simon: Right, well, I’m not a disclaimer, I’m not an expert. No city planning or anything but in terms of a common practice, I guess a norm point of view, I would say Traditional CBD would probably be anything around a central and roti perhaps one try Causeway Bay, those are what we call it traditional CBD in the Hong Kong Island site. Based on a government issued initiative probably 10 to 15 years ago they planned to have Kowaniese right next to the airport of the old airport Kai tak be CBD 2. So, what we generally say CBD 2 would be anywhere between, you know Kwun Tong, a local district called auto calc and also Kowloon Bay, those areas are classified as CBD 2. Where by then you have of course, when you have CBD, investments in infrastructure, and also of course, other amenities supports are tend to follow. So I’m not too sure about what CBD three is because we don’t have like a, you know, formal classification yet, though some landlords are looking to claim themselves CBD 3 in some areas. So I don’t have a model answer for it.

Darren: Yeah. I think that CBT 2 although is a east Hong Kong island side like Quarry Bay and you know, Tycoon area, I believe so, and I think they’re proposing CBT 3, should be somewhere near the border, where people can also commute between the port border from Shenzhen and also from Hong Kong side. But I’m sure these are only jargon to say that what’s the potential infrastructure in real estate opportunities are, which is, you know, is very— I think it’s kind of important to know where they are. So going back to be a connector, right. So and I’m sure like for the past couple years, a lot of people talk about the greater Bay Area and about how there’s so much potential and how much opportunity there would be. What’s your viewpoint on that? And then how would you think what affects interest of Hong Kong real estate markets?

Simon: Yep. Honestly, Greater Bay has been on topic long ago already, in my opinion. I wouldn’t say you know, about the future. It’s more like now, in my opinion. So, I mean, we are already seeing a lot of investments going in, though, there are still you know, some mismatch in terms of I would say, finding the right opportunities to go in will be the current situation. I guess from the recent announcement from you know, the Chinese party, Hainan free zone, will be the next thing that goes on from until 2025. I guess that’s off topic. But, you know, that’s more like the future, I would say. And yes, when we talk about real estate, I always, you know, correlate demographics, movement of people, I think increasing connectivity of the whole Southern parts of the Greater Bay, you talking about connecting different cities and regions of the southern part of China. Most, you know, real estate in the region would probably benefit. I would say the benefit in the whole Bay Area. So as Hong Kong is positioned strategically at the bay, outward towards Southeast Asia whatnot as an international financial Metropolis, listed companies will be coming to Hong Kong and go on public. So people workers will be traveling in and out of Hong Kong, immediately, you know, if you can imagine, you would be having increase in demand and residential properties as people need to probably come in and work and live here, though some people argue that, you know, likewise people will move north, right. So I think is a healthy relationship, honestly. So you are expanding a territory whereby you have people coming in and out. And if you talk about, you know, the whole size of Hong Kong, in terms of, I guess, territory, compared to the rest of China, and given it’s very high density. I’m not too concerned about them stealing our demand, if you will. I mean, I’m not saying that you were implying that question. I think it was just building upon each other. So that’s probably my view on the Greater Bay Area.

Darren: I mean, like, I know nothing about Hong Kong real estate or Chinese real estate. I kind of feel like, the more I know, I know less. And to me just I’m just curious because like, you know, it’s just something that has a lot of advertising, or a lot of people talking about greater Bay Area as if the ‘promised land.’ And so from my point of view it’s for Denzity insights for myself, if I’ve been just curious about it, I’m sure a lot of people will be curious and want to know more from you as well.

Simon: I mean, the promise land, I’m not sure.

Darren: It’s a metaphor.

Simon: I know. But I mean, it’s more like I think for me to explain, I’m probably not an expert, because I don’t go to you know, the Greater Bay, all the cities I haven’t visited, of course, given we’re on the topic I try to learn more about, you know, different cities and what they could offer right, so just a short example some where some city may have better healthcare systems or whatnot, or better history. So I think it’s just mixing people together. And if you were to identify them by different skill set then they could just go to different places for different tasks. So try to allocate resources correctly.

Darren: That’s cool. Yeah. So, going back to the whole learning and expertise or skill sets, because in your point of view, right, like, obviously we are all, we’re both learning about the Greater Bay area and, you know, real estate professionals tend to be location focused, do you feel like your scope would increase because of this whole, you know, bridging between different places in Greater Bay area, and then do you feel like as a commercial real estate agent yourself, how would you plan to, to do that? To learn about it? And then do you plan to expand your scope, do more work in connecting different sides, like, I just want to know— if people listen to this and thinks, “Hey, I’m a Commercial Real Estate Agent, what should I do?” Like, how would you suggest?

Simon: I think I mean, that’s a partial personal question, right? So I think it’s a fact that whether a person is more towards open minded thinking. So going back to my introduction, one of my passions, or the reason why I enjoy what I do and have motivation on the industry is because I do want to learn new things and meet new people, right? When you do that, I think it’s important to stay relevant, as I was saying, and I guess one of the questions, that’s my typical day, I believe in there’s a healthy correlation off the fact that you know, that the more you know, the better, the higher likelihood of you solving bigger problems, right. So the bigger problem that you solve is likely that the more money that you make, right or more successful you become, whatever that means. So, that might be a more personal question, so yes, I mean, and spending enough time to learn, right, so, I think one of the challenges is that we have to allocate our own resources carefully on how much we want to input right.

Darren: Yeah like even the way you talk about it in this video, and also like just knowing you personally, you always have a very strong theme about connecting and just servicing someone if they need some help. So I think it’s something that’s, you know, is very loud, into very cohesive, kind of like value that obviously, as a friend, I really appreciate that too. You know, it’s something that’s weird. It’s like the real estate sector, the more you know, the less you really know, because it’s so huge. So, and also too, right as something that like, you know, away from just investing as a whole because, you know, we’re both in the Prop tech institute together, the association about property tech to learn more about it, I want to know, how, because property tech is something that you know, still new in a sector, people still don’t even know what’s going on. Why can you spill out more time on investing, do other kinds of services, get different types of licenses and stuff like that, but why would you dedicate your time more on property tech?

Simon: Well, I would say, there are different parts and different parts and answers to the question. I guess for the last part, different licenses and all, you know, I’m not that academically smart, I think. I think the value that you create is about helping, not helping others per se but it’s about answering people question or solving people’s problem, right? So you can know everything in the world, but if you don’t exercise it, then it’s pointless, meaningless, right. So, I think that’s why fundamentally when I decided to come back to Asia, where opportunities are more, compared to different parts of the world, relatively speaking, it’s the reason why I decided to continue on doing what I do. So I guess that answers, you know, the first part of the question. And of course, when we encounter different tasks or different scenarios, we tend to meet more interesting people, like minded people and then you have a like minded group that sort of intrinsically or naturally already have a group or community to be continued.

Darren: Hmm, I see. No, I think that’s pretty good. It’s just something that like, you know, myself I’m curious too, right. I think because we both have a really good friend, Chris, who makes us feel really insecure because he’s too smart and challenges us. So you know I feel like this conversation we can go on for another hour if we can, because there’s lots of things that even in my head I haven’t asked yet, but I kind of want to do this long form video in the future so hopefully you can join us next time for that.

Simon: Sure. I mean, to speak with other people as well, I think we could jump in and breakout room or something, right? 

Darren: Yeah, yeah yeah. I mean, Denzity insights is meant for learning different insights and tips from different experts, right. And then for us, we were thinking that, hey, maybe next time, we can go for like a very specific topic. Or we can even go for different guests in the journey. Like even your journey is very interesting, you know. So I think that’s something that we can do. So before we go away, what kind of takeaway would you like the audience to have from this video?

Simon: Ah, I mean, I don’t know who the audience are. I mean, we do have a focus real estate focus. I think generally speaking, just to be again, to my point, being relevant is I try to do that every day as well. Be open minded. I think that’s a very simple thing that everyone could do. You know, being open minded could to your lens would mean that if you had a negative feeling about this market today, or this in sector today doesn’t mean that it’s not going to flourish tomorrow. So, you know, that sort of applies to, I guess, real estate markets, who knows what will happen tomorrow? You know, what if we don’t have that vaccine, then we need to think of something different, right. So, you know, problem with I guess aging is that you stay, sort of close minded, right. And you feel like know, so I think the community that we feel like we are building is something that a channels the the message as well, right. So to be open minded.

Darren: That’s really good. Thank you. I think I thought about real estate stuff talking about philosophy I was like, “Wow that’s kind of deep.” So for people who you know, the right audience, who are trying to find out more about real estate, Hong Kong real estate, and they want to find you. What are some ways that you suggest people to reach out to you?

Simon: Just LinkedIn, LinkedIn. Or you know you could always find Darren, and you can get my number.

Darren: It’s that easy?

Simon: Yeah, LinkedIn probably be more professional if you were to talk about business. Otherwise, email I mean, yeah, LinkedIn, you have an email anyway.

Darren: Yeah. So I’ll include everything in the show notes and then description of the video. And I just want to say thank you, Simon. Thanks for sharing and I hope the audience gets something out of it. And until next time, then, thank you.

Simon: Sure. Thank you. 

Darren:Alright talk to you later alright, bye.

Simon: Bye.
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Darren :嗨,Simon,歡迎來到節目。

Simon:嘿,Darren ,很高興見到你。

Darren :所以收聽的觀眾。Simon和我是好朋友已經有一段時間了。我們從來沒有這樣的形式來談論他的技能和經驗。所以,Simon,謝謝你的到來,因為這是我一直想問你更多的事情。

Simon:當然。謝謝。謝謝你邀請我來到節目。好機會。很高興分享。

Darren :那很好。所以當我們開始的時候,你介意告訴觀眾更多關於你自己和你的工作嗎?

Simon:

是的。大家好。我是Simon,你的房地產交易專家,現時在香港工作。我從事房地產經紀業務已經快十年了。現時我大部分時間都在投資/再開發交易上,並與機构客戶合作。實際上,我專注於處理家族理財辦公室和房地產基金。還有一點我的個人背景,我出生在香港,在多倫多和加拿大長大。我想,我也花了,和你相似的背景,Darren ,我花了在世界的西部和東部都是大約時間。我决定在學業結束後回到亞洲,我一直喜歡結識新朋友,建立有意義的關係。當你能够學習新技能的時候,這是非常令人滿意的,]在整個旅程中吸引志同道合的人。囙此,我想今天將會是個良好的採訪,所以謝謝你。

Darren :很好很好,

Simon:謝謝你給我這個機會。

Darren: 別擔心。業內很多人已經知道你是誰了,所以我相信每個人都想知道更多關於你的資訊。

Simon:是的,我是說一些。

Darren:不,不,你很謙虛。但首先,因為很多觀眾可能不明白什麼是商業地產經紀人。你介意告訴觀眾你的一天是什麼樣的嗎像商業地產經紀人?你每天都做些什麼?

Simon:當然。謝謝。好吧,我想從介紹開始,正好有機會,有幸與不同的客戶打交道。所以當我第一次從亞洲回來時,我想在租賃行業更為專業。而現在在資本市場團隊,所以更多的是機构客戶。所以我想作為經紀人的一天,會見客戶,與個人建立聯系,囙此我認為,追溯到過去,與市場保持聯系,與客戶保持聯系。這將是我在杯賽市場領域的簡短回答。那麼,如果你會的,任何與房地產有關的事情,你知道,一些租戶運動或都市的新發展,因為我專門研究香港資本投資喜歡特別是在股票產權市場,所以,股票市場也確實有一定的影響。所以,我要對頻道說為了創造價值,向適當的受眾傳達正確的資訊是我的目標。所以,你知道,從生理上講,因為我們有了,你知道,新的辦公室,你知道,我們現在有了敏捷工作ABW。所以,你知道,典型的一天與不同的人交談,與不同行業的不同同事交流,還有,你知道,走進辦公室,出去見客戶,我會說這對我來說是一個典型的日子。

Darren :那麼,公平地說,就像你的角色是一個連接器,然後如果房東,基金,買方或賣方想要瞭解更多關於發生了什麼的事情,你將成為人們會對你說,嘿,發生了什麼事的人?當你說喜歡,連接,比如,這意味著什麼?

Simon:是啊,我的意思是,像我們現在所做的那樣建立聯系。正確的?我想說最基本的是教育部分。所以哪些相關的事情是相關的?比如說,你有一個住宅物業,在香港,你很有可能想瞭解你所在地區的發展情況,你知道,誰一直在投資和誰將或目前正在尋找投資,我認為這些是我將要提到的主題。所以我會說是的,一個連接器一種新的感覺,你知道,涉及到所有的房地產方面。那是你的問題。你知道,這很有道理。

Darren :是的。所以我只是想,我就像,你知道,我的背景,我曾經在房地產行業工作。所以我有點明白這是怎麼回事,但是觀眾可能不明白,你知道,這很難理解,但我們可以稍後再回去。然後我想請你親自去,因為,你知道,我們都在香港,然後香港,在過去的幾個月裏,經歷了很多起伏。對房地產市場有何影響?

Simon:好吧,簡而言之,不確定性的新增,我想,會全面增長,對吧。對於居住在這裡的人,對於打算進來的人,我認為投資市場的不確定性一直在新增,這可能不是一件好事,對嗎?再說一次,我相信每件事都有好的和壞的。每一個市場都有機會,儘管現在要尋找機會可能更難。所以我們面臨著艱難的時刻。你是對的,在過去的一個月裏,我想,差不多一年了,對吧。自從貿易戰以來,我們又有了社會動盪,現在又出現了COVID-19局勢。所以我的看法是,企業和個人可能還需要一段時間來適應、創新和合作,相對而言,與世界上其他金融都市相比,香港仍然有很强的基礎,有支持,有人才,你知道,東西方的混合。我不認為在其他競爭都市,我們會,你知道,有這些元素。所以我仍然相信這個系統和這個地方,這是一個時間問題,會再次反彈。

Darren :我明白了。所以就喜歡而言,香港的房地產,就像沒有資金流入和流出一樣,沒有改變。

Simon: 我想這是個很好的問題。正如我剛才所說,由於不確定性,資金流入肯定會產生影響。企業進場更為謹慎。所以流入速度肯定會變慢。從我們剛才所說的,貿易戰和社會動盪來看,我想說現在的政治色彩更大一些。有些立場,你可能知道, 所以我想,當你談論情緒的變化,對吧,COVID-19有點像全球大流行,所以與其他兩種病毒影響相比,它的影響可能不大由於出行限制,人們的流動性較低,這也會影響資本的流入。我想主要是對香港的挑戰,因為我們在一個非常,我想,在地理上非常緊湊的地方,我們很少有偉大的房地產機會。比如,你知道的,與新加坡和其他一線都市相比,價格差距通常很大不過,對於核心資產,這給投資者帶來了一些挑戰。你知道,那些有錢的人看看香港。所以,在資金外流方面,我們已經看到,你知道,通過向海外擴張,家族理財辦公室和本地開發商在海外機會出現前一年或兩年內,一直在利用英國脫歐等情况。所以對於機构客戶,我還是會考慮對於進出香港的交易,它們處於中期短期內,因為香港是您所知道的,仍然是門戶非亞洲基金對於進出香港的交易,它們處於中期短期內,因為香港是您所知道的,仍然是門戶非亞洲基金可能是有益的。

Darren :我明白了,能讓人們瞭解這裡發生了什麼事真是太好了。所以我想要集中注意力的東西-因為你知道在過去的幾個月裏發生了很多事情,對吧?我們一起討論關注病毒的情况,因為即使對我來說也有點好奇,比如房東或房東現在如何應對這種情況,他們做了什麼幫助整個社會因為病毒原因?

Simon:當然,我想你有,首先,如果我要看大一點,你擁有不同的關係人,對。所以你們有小房客,我是說,小房東,大房東,房客組合房東。所以,尤其是對於COVID-19,我會說大多數房東認為這是暫時的,你知道,情况或場景。我認為香港是一個非常有彈性的都市,因為我們已經離開了在2003年的非典期間。事實上,你知道,我們一直相當敏捷,我想,敏捷和强大的人,如果你問,對吧,那麼,就像你聽到的新聞一樣,零售酒店業受到了負面影響實際上非常重要。所以我認識的人一直很支持重組,你知道,為了降低租金等等。所以特別是我會說,你知道,回到小規模的房東,那麼,投資組合房東來說,你知道,人們就是那些擁有,你知道,在該地區或資產,因為它們已經上市,而且住宅銷售也已經受到了一定程度的影響,囙此,我想,我們已經見證了一些處置或一些處置非核心資產的意圖在香港。囙此,這實際上為一些最終用戶\佔領者創造了機會,他們現在可以有機會了擁有自己的房產,對吧。比如說,一個家族理財公司,現在不可能只租辦公室,他們可以含有香港辦公室。所以這實際上給一些人,有足夠的現金帶來了一些好消息。因此,總而言之,我要說的是,分隔線使房東可以重新考慮其房地產策略,以合併或重新分配他們想要開展業務的地點。

Darren :這是一個非常好的例子,我們都知道這一點,就香港人看到的機會而言,什麼樣的人會進來,比如說,當涉及到相似的投資者或出席率時?你知道,他們的背景或國籍是什麼是,你知道他們從哪裡來的嗎?你對此有什麼相反的建議或建議嗎?

Simon:對。正如我所說,我想在我前面的觀點中,我會說機构客戶仍然很强大。他們仍然有興趣來香港。尤其是現在他們看到一些小規模的房東的調整。例如,你有一些老房子,它只是一個家庭所有。他們可能會想把資產讓渡出去——不管是出於什麼原因不得不放弃或處置資產,那麼現在機构客戶將能够找到進入市場的機會。所以,我認為主要是機构客戶,也包括內地背景客戶。就租戶而言,我會說我又是在租賃行業工作,我認為我們推動價值的任何企業都是正確的。所以,任何與社區有關的事情,所以我認為醫療市場,你可以使用或需要的東西我認為這些是支撐市場的主要因素。

Darren :好吧,那麼讓我們回顧一下你剛才所說的,即將進入的機构公司,他們通常是自用還是你將其視為出租的投資?

Simon:有意思, 我想他們是指家族理財辦公室,他們肯定是在利用地理位置優勢,在這裡開展業務,同時也考慮到稅務狀況。囙此,我認為簡單的答案應該是投資進入亞洲市場,使其資金多樣化。

Darren :我明白了,就像你認為在香港他們更感興趣的一些領域,我們討論的很明顯,你可以是散戶投資者,也可以是機構投資者或家族理財辦公室,例如,您的客戶往往是機构性公司,而家族理財辦公室是否像香港的某個地區一樣,因為整體上利用了病毒的情况,所以他們有興趣進入?

Simon:當然,當然。我會說覈心-覈心-他們傾向於關注的領域。所以,任何更具彈性的東西都是他們——也是任期最短的東西。所以政府租賃。所以,我的意思是,在一個較小的,我想更實際的例子可能是在香港島,你有三倍九年的租約,這些可能是比較有吸引力的地方在分散地區九龍,但當然,有一些有趣的-你知道當你談論投資的時候,它也是關於回報的。所以,如果你有租客要去九龍東這樣的地方,我們仍然會看到更多的興趣,當然,由於新興的CBD 2或已經建成的CBD 2。所以,你知道,九龍,地理位置,香港島,九龍的黃金地段,一直是投資者感興趣的東西。我要說的是,由於科維德的情况,零售業肯定是下來了。所以,現在一些利益被吸引到一些人身上,你知道,業主們正在遭受痛苦但當然,這些機會中的一些並不是暗示,或者說,在某種意義上,你仍然需要一些談判來捕捉正確的時間,所以價格差距仍然是我們一直需要關注的話題。

Darren :我明白了,不,這很好,因為我也在學習。我不太熟悉-我住在這裡,但對這裡的房地產不太熟悉。另外,我知道你提到了CBD2,我們瞭解CBD 1、2和3的含義自去年的ULI會議,你介意向聽眾解釋一下嗎就像在香港,CBD 123,這些區域是什麼,為什麼瞭解這些不同的區域很重要。

Simon:對嗎?好吧,我不是免責聲明,我不是

Darren: 好主意,就是這樣

Simon: 任何計畫或任何東西,但在一個普通的實踐方面,我想是一個規範的觀點也許會在中環區域或者銅鑼灣,我們稱之為香港島的傳統CBD,這是基於政府發佈的一項可能10至15年的倡議以前,他們計畫在啟德舊機場附近建立殖民地成為CBD 2。所以,我們通常所說的CBD 2會介於兩者之間,你知道觀塘嗎一個名為CBD2 的本地區,也是九龍灣,這些地區被劃為CBD 2。所以呢當你有CBD的時候,你當然有基礎設施投資,當然還有其他便利設施的支持傾向。所以我不太確定CBD 3是什麼是因為我們還沒有一個,你知道的,正式的分類,雖然一些房東正在尋找在某些地區聲稱自己是CBD 3。所以我

Darren:是的,事情就是這樣

Simon:不,不,我沒有一個典型的答案。所以我只說一和二,是的

Darren :是的。我認為CBT 2雖然是一個像鰂魚一樣的東港島,你知道,大亨區,我相信是的,我認為他們建議CBT 3,應該在靠近邊境的地方,在那裡人們可以從深圳和香港往返於港口邊界。但我相信,這些只是術語來說明房地產機會中潜在的基礎設施是什麼,也就是說,你知道,非常-我認為知道它們在哪裡很重要。所以回去做連接,對吧。所以,我確信在過去的幾年裏,很多人都在談論大灣區,談論那裡有多麼大的潜力,會有多少機會。你對此有何看法?那麼,你認為什麼會影響香港房地產市場的利益?

Simon:是的。嗯,老實說,在我看來,大灣早就有了。我不會說你知道,關於特寫。在我看來更像是現在。所以,我的意思是,我們已經看到了很多投資,但是,你知道,在我看來,有些不匹配的地方,尋找合適的機會進去。將現時的情况從最近的公告中猜出來,來自中國,海南自由區將是下一個從2025年開始的事情。我想那不是話題。但是,你知道嗎我認為這更像是未來。是的,當我們談論房地產的時候,我總是,你知道的,你知道,人口統計,流動,我認為整個南部在大灣部分地區的連通性,我想,你說的是連接不同的都市和地區南方和中國的一部分。你知道,這一地區的大部分房地產可能會受益。我會說整個灣區都會受益所以香港的位置,你知道,在海灣上,你知道,向外,你知道東南亞什麼的。作為一個國際化的金融大都市,上市公司將陸續赴港上市。正確的。所以工人們會進進出出馬上,你知道,如果你可以想像,你的需求和住宅物業將會新增,因為人們可能需要進來工作住在這裡,雖然有人爭辯說,你知道,人們也會向北遷移,對嗎。所以,老實說,我認為這是一段健康的關係。所以你們要擴張疆域,使人出入。如果你談到整個香港,我想,就領土而言,與中國其他地區相比,我們的人口密度非常高。我不太擔心他們偷東西我們的要求,如果你願意的話。

Darren:哦,好吧。

Simon: 我的意思是,我不是說你在暗示這個問題。不,我只是好奇。我想這只是在互相推波助瀾。這可能是我對大灣區的看法。

Darren: 因為我對香港房地產和中國房地產一無所知。如果我覺得,我知道的越多,我知道的就越少。對我來說,我只是好奇,因為,你知道,只是一些東西這就像很多廣告,或者很多人在談論大灣區,好像是一片應許之地。所以從我的角度來看,就像,你知道的,我只是好奇的話。我相信很多人都會很好奇,也希望從你那裡瞭解更多。

Simon: 當然,我的意思是,我不確定。你可能需要

Darren 這是個比喻。

Simon: 我知道。我是說,更像是我想,我想讓我解釋一下,我可能不是專家,

Darren :酷

Simon: 因為我不去你知道的,大灣,所有我沒去過的都市,當然,給你,你知道,我們在討論這個話題我試圖瞭解更多,你知道,不同的都市,以及它能提供什麼,所以只是一個簡短的例子有些都市可能有更好的醫療保健系統或其他什麼,或者更好的歷史。所以我想只是把人混在一起。正確的?所以,

Darren: 好的

Simon: 如果你用不同的技能來識別他們,他們可以去不同的地方做不同的任務。所以

Darren:我明白了

Simon: 嘗試正確分配資源。

Darren: ]很酷。

Simon: 是的。

Darren: 那麼,回到整體,比如,你知道的,學習和專業技能,因為在你看來,像這樣,很明顯,就像我們所有人一樣都在瞭解大灣區或其他地區的情况,而且,你知道,房地產專業人士傾向於關注地理位置,你覺得你的範圍會擴大嗎因為這一點,你知道,你知道,就像在大灣區的不同地方,然後你覺得自己是一個商業地產經紀人。怎麼會打算瞭解它?然後你是否打算,你知道,擴大你的範圍,你知道,做更多的工作來連接不同的方面,比如,我只想知道,如果人們聽我說,嘿,我是一名商業房地產經紀人,我該怎麼辦?比如,你有什麼建議?

Simon: 我想我是說,這是一個局部的個人問題。正確的?所以我認為這是一個事實,一個人是否更傾向於思想開放想,好吧,那麼回到我的介紹,我喜歡我所做的事情的時候而且,你知道,對這個行業有動力是因為我確實想學新東西認識新朋友,對吧。當你這麼做的時候。我認為保持相關性很重要正如我所說的,我想你是其中一個問題,所以這是我通常的一天,所以有一個健康的,我相信,我猜,有一個健康的與你知道的事實相關,你知道的越多,你解决問題的可能性就越大問題,對吧。所以,你所看到的更大的問題是,你知道,你賺的錢越多,無論是對的還是成功的,你都會變成什麼樣子。所以,通過一個更私人的問題,是的,我是說,花足够的時間學習,對吧,我認為挑戰之一是,你知道,我們必須謹慎地分配我們自己的資源關於我們想正確輸入多少。

Darren: 不,這就像你在這段視頻中所說的那樣,也就像你個人所知道的,你總是有一個非常强烈的主題,那就是聯系和服務某人他們需要幫助。所以我覺得這是,

Simon: 當然

Darren: 不,這是公平的,不,這是一種響亮的,非常有凝聚力的價值觀,很明顯,作為一個朋友,我也很感激。你知道,我想

Simon: 當然,是的

Darren: 有些事情很奇怪。就像房地產行業,你知道的越多,你真正知道的就越少,因為它太龐大了。所以,還要寫一些東西,你知道,不僅僅是投資總體來說,因為,你知道,我們都在房地產技術研究所 [PropTech Institute],房地產技術協會要瞭解更多,我想知道,比如怎麼,因為房地產科技是一種你知道的東西,在一個行業中仍然是新事物,我們甚至還不知道發生了什麼。為什麼你為什麼對你來說,比如,你知道,你可以在投資上花更多的時間做其他類型的服務,獲得不同類型的許可證之類的東西,但是為什麼你會把更多的時間花在房地產科技上?

Simon: 好吧,我想說,有不同的部分,不同的部分和答案對於這個問題,我想最後一部分,不同的許可證,你知道,我,不是我覺得在學術上很聰明

Darren : 不,你很謙虛,你很謙虛。

Simon: 我認為你創造的價值是,你知道的,幫助別人,而不是幫助別人,而是回答問題人們質疑或解决人們的問題,對嗎?所以你可以知道世界上的一切,但如果你不去鍛煉,那就毫無意義了,對。所以,我認為這就是為什麼當我决定回到亞洲時,那裡的機會比其他地區多相對而言,這就是我决定繼續下去的原因嗎做我所做的。你知道,問題的第一部分,當然,當我們遇到不同的任務或不同的場景,我們往往會遇到更有趣的人,比如有頭腦的人你有一個志同道合的群體,那麼你本質上就是這樣或者說,已經有一個團體或社區需要繼續。

Darren: 我明白了。不,我覺得很不錯。我只是想,你知道,我自己,對正確的東西很好奇。然後我想因為我們倆,我們碰巧有一個好朋友克裡斯,然後讓我們感覺很不安全。因為他太聰明,挑戰克裡斯。然後我知道所以我你知道,就像,你知道,也許我覺得我們可以再談一個小時,如果可以的話,因為我腦子裏還有很多事情我還沒有問過,但我有點想在將來拍這個長視頻,希望下次能加入我們

Simon: 當然。我的意思是,和其他人談話,我想我們可以跳進休息室什麼的。對嗎?

Darren: 是的,是的,我的意思是,密集的洞察力意味著從不同的專家那裡學習不同的見解和技巧,對吧。對我們來說,我們在想,嘿,也許下一次,我們可以討論一個非常具體的話題。或者我們甚至可以在旅途中為不同的客人服務。就像你的旅行也很有趣,你知道的。所以我想這是我們可以做的。所以在我們走之前那麼,你希望觀眾從這段視頻中得到什麼樣的收穫?

Simon:我是說,我不知道聽眾是誰

Darren :沒人知道。

Simon: 我是說,我是說,那是個玩笑。我的意思是,我們有一個重點或房地產的重點。

Darren: 是的,是的

Simon: 我想一般來說,就我而言,重要的是我每天都試著這樣做。思想要開闊。我認為這是一件很簡單的事,每個人都可以做到,你知道,保持開放的心態對於你,你知道,對你的鏡頭來說,如果你對今天的市場,或者今天的行業,並不意味著明天就不會繁榮。所以,你知道的,我想這也適用於,房地產市場,誰知道明天會發生什麼?你知道,如果我們沒有疫苗怎麼辦,那麼我們需要考慮一些不同的東西。正確的。所以,你知道,如果我猜衰老就是你說的,有點心不在焉,對吧。你覺得不,所以我覺得我們的社區我們正在建設的是一個傳播資訊的通路,對吧。所以,要思想開放。

Darren : 真不錯。謝謝您。我想我考慮過房地產的東西,談論哲學就像,嗯,有點深奧。所以對於那些你認識的人來說,他們想瞭解更多關於房地產、香港房地產的知識,他們想找到你。你建議人們用什麼方法來接觸你?

Simon: 只是LinkedIn。或者你知道,你知道,你總是可以找到Darren ,你可以得到我的號碼。

Darren : 容易嗎?

Simon: 是的,如果你要做生意,LinkedIn可能更專業。否則,請發送電子郵件我是說,是的,LinkedIn,你還是有電子郵件的

Darren: 是的。所以我會把所有的東西都寫在節目筆記裏,然後是對視頻的描述。然後我只想說謝謝你,Simon。就像,

Simon: 謝謝你,Darren 

Darren: 不,完全可以。然後感謝你的分享,我希望觀眾能從中得到一些東西。在那之前,下次謝謝你。

Simon: 當然。

Darren: 好的,謝謝。好吧。再見

Simon: 再見。

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Hope you liked this episode. You can always leave your opinions in the comments section!

See you next time!

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