前7月土地交易 超越廠辦
2017/8/22
<p class="MsoNormal" style="margin-top: 9.0pt; mso-para-margin-top: .5gd; text-align: justify; text-justify: inter-ideograph; line-height: 23.0pt; mso-line-height-rule: exactly; tab-stops: 6.0cm;"><span style="mso-bidi-font-size: 12.0pt; font-family: '微軟正黑體',sans-serif; mso-ascii-font-family: Arial; mso-hansi-font-family: Arial;">工商時報【蔡惠芳】</span></p>
<p class="MsoNormal" style="margin-top: 9.0pt; mso-para-margin-top: .5gd; text-align: justify; text-justify: inter-ideograph; line-height: 23.0pt; mso-line-height-rule: exactly; tab-stops: 6.0cm;"><span style="font-size: 13pt; font-family: 微軟正黑體, sans-serif;">今年房市買氣有回神跡象，建商也逐漸恢復信心，紛紛逢低回補土地庫存。根據宏大國際資產公司昨（</span><span style="font-size: 13pt; font-family: Arial, sans-serif;" lang="EN-US">21</span><span style="font-size: 13pt; font-family: 微軟正黑體, sans-serif;">）日最新調查指出，</span><span style="font-size: 13pt; font-family: Arial, sans-serif;" lang="EN-US">2017</span><span style="font-size: 13pt; font-family: 微軟正黑體, sans-serif;">年前</span><span style="font-size: 13pt; font-family: Arial, sans-serif;" lang="EN-US">7</span><span style="font-size: 13pt; font-family: 微軟正黑體, sans-serif;">月累計大型不動產的交易總額，土地佔比逼近</span><span style="font-size: 13pt; font-family: Arial, sans-serif;" lang="EN-US">5</span><span style="font-size: 13pt; font-family: 微軟正黑體, sans-serif;">成，已超越近幾年來熱門的工業、廠房。</span></p>
<p class="MsoNormal" style="margin-top: 9.0pt; mso-para-margin-top: .5gd; text-align: justify; text-justify: inter-ideograph; line-height: 23.0pt; mso-line-height-rule: exactly; tab-stops: 6.0cm;"><span style="font-size: 13pt; font-family: 微軟正黑體, sans-serif;">宏大國際資產總經理陳益盛表示，今年</span><span style="font-size: 13pt; font-family: Arial, sans-serif;" lang="EN-US">1</span><span style="font-size: 13pt; font-family: 微軟正黑體, sans-serif;">～</span><span style="font-size: 13pt; font-family: Arial, sans-serif;" lang="EN-US">7</span><span style="font-size: 13pt; font-family: 微軟正黑體, sans-serif;">月全台大型不動產交易，其中逾</span><span style="font-size: 13pt; font-family: Arial, sans-serif;" lang="EN-US">10</span><span style="font-size: 13pt; font-family: 微軟正黑體, sans-serif;">億的成交案有</span><span style="font-size: 13pt; font-family: Arial, sans-serif;" lang="EN-US">19</span><span style="font-size: 13pt; font-family: 微軟正黑體, sans-serif;">件，共約</span><span style="font-size: 13pt; font-family: Arial, sans-serif;" lang="EN-US">306</span><span style="font-size: 13pt; font-family: 微軟正黑體, sans-serif;">億元；土地交易件數佔</span><span style="font-size: 13pt; font-family: Arial, sans-serif;" lang="EN-US">8</span><span style="font-size: 13pt; font-family: 微軟正黑體, sans-serif;">件最高，成交總額約</span><span style="font-size: 13pt; font-family: Arial, sans-serif;" lang="EN-US">140.55</span><span style="font-size: 13pt; font-family: 微軟正黑體, sans-serif;">億最高，約佔</span><span style="font-size: 13pt; font-family: Arial, sans-serif;" lang="EN-US"> 45.9</span><span style="font-size: 13pt; font-family: 微軟正黑體, sans-serif;">％，直逼</span><span style="font-size: 13pt; font-family: Arial, sans-serif;" lang="EN-US">5</span><span style="font-size: 13pt; font-family: 微軟正黑體, sans-serif;">成。</span></p>
<p class="MsoNormal" style="margin-top: 9.0pt; mso-para-margin-top: .5gd; text-align: justify; text-justify: inter-ideograph; line-height: 23.0pt; mso-line-height-rule: exactly; tab-stops: 6.0cm;"><span style="font-size: 13pt; font-family: 微軟正黑體, sans-serif;">排名第二的是工業、廠辦，各有</span><span style="font-size: 13pt; font-family: Arial, sans-serif;" lang="EN-US">4</span><span style="font-size: 13pt; font-family: 微軟正黑體, sans-serif;">件，合計金額約</span><span style="font-size: 13pt; font-family: Arial, sans-serif;" lang="EN-US">113.16</span><span style="font-size: 13pt; font-family: 微軟正黑體, sans-serif;">億元；至於零售約</span><span style="font-size: 13pt; font-family: Arial, sans-serif;" lang="EN-US">2</span><span style="font-size: 13pt; font-family: 微軟正黑體, sans-serif;">件，商辦交易量尚在盤整，數量、金額無明顯增加，交易金額各約</span><span style="font-size: 13pt; font-family: Arial, sans-serif;" lang="EN-US">35.8</span><span style="font-size: 13pt; font-family: 微軟正黑體, sans-serif;">億元、</span><span style="font-size: 13pt; font-family: Arial, sans-serif;" lang="EN-US">16.5</span><span style="font-size: 13pt; font-family: 微軟正黑體, sans-serif;">億元。</span></p>
<p class="MsoNormal" style="margin-top: 9.0pt; mso-para-margin-top: .5gd; text-align: justify; text-justify: inter-ideograph; line-height: 23.0pt; mso-line-height-rule: exactly; tab-stops: 6.0cm;"><span style="font-size: 13pt; font-family: 微軟正黑體, sans-serif;">陳益盛分析，要說房價已打底，還言之過早。但今年以來的土地市場，除了成交量攀升之外，交易區位也回歸雙北市，排名第二位則是台中。推估是建商或企業對於未來景氣，已漸恢復信心，紛紛提高購地、或自用開發的意願，並已逐漸回歸「買好區位的土地」，替代「買便宜的土地」。</span></p>
<p class="MsoNormal" style="margin-top: 9.0pt; mso-para-margin-top: .5gd; text-align: justify; text-justify: inter-ideograph; line-height: 23.0pt; mso-line-height-rule: exactly; tab-stops: 6.0cm;"><span style="font-size: 13pt; font-family: 微軟正黑體, sans-serif;">值得一提的是，台北車站商圈重慶南路透天大樓，雖為透天店面，但一般認為買家應是著眼其土地與都更的潛在開發價值，因此如果把這筆交易歸類為土地，則土地成交總額已佔前</span><span style="font-size: 13pt; font-family: Arial, sans-serif;" lang="EN-US">7</span><span style="font-size: 13pt; font-family: 微軟正黑體, sans-serif;">月總額超過</span><span style="font-size: 13pt; font-family: Arial, sans-serif;" lang="EN-US">5</span><span style="font-size: 13pt; font-family: 微軟正黑體, sans-serif;">成。</span></p>
<p class="MsoNormal" style="margin-top: 9.0pt; mso-para-margin-top: .5gd; text-align: justify; text-justify: inter-ideograph; line-height: 23.0pt; mso-line-height-rule: exactly; tab-stops: 6.0cm;"><span style="font-size: 13pt; font-family: 微軟正黑體, sans-serif;">陳益盛也指出，就各類型不動產的租金投報率來觀察，辦公室的交易量還是明顯不足。實際上宏大掌握的準買家，已有超過</span><span style="font-size: 13pt; font-family: Arial, sans-serif;" lang="EN-US">10</span><span style="font-size: 13pt; font-family: 微軟正黑體, sans-serif;">組以上，需求面積上千坪、甚至上萬坪的商辦標的，業種則涵蓋製造業、電子業、醫美業等，但幾乎沒有業主要出售，尤其台北市更是一棟難求。</span></p>
<p class="MsoNormal" style="margin-top: 9.0pt; mso-para-margin-top: .5gd; text-align: justify; text-justify: inter-ideograph; line-height: 23.0pt; mso-line-height-rule: exactly; tab-stops: 6.0cm;"><span style="font-size: 13pt; font-family: 微軟正黑體, sans-serif;">目前辦公室年租金投報率平均約可達</span><span style="font-size: 13pt; font-family: Arial, sans-serif;" lang="EN-US">2.4</span><span style="font-size: 13pt; font-family: 微軟正黑體, sans-serif;">～</span><span style="font-size: 13pt; font-family: Arial, sans-serif;" lang="EN-US">2.5</span><span style="font-size: 13pt; font-family: 微軟正黑體, sans-serif;">％，遠高於住宅的投報率。以「宏盛帝寶」為例，初估買賣行情每坪約</span><span style="font-size: 13pt; font-family: Arial, sans-serif;" lang="EN-US">200</span><span style="font-size: 13pt; font-family: 微軟正黑體, sans-serif;">萬～</span><span style="font-size: 13pt; font-family: Arial, sans-serif;" lang="EN-US">240</span><span style="font-size: 13pt; font-family: 微軟正黑體, sans-serif;">萬元，每坪租金約</span><span style="font-size: 13pt; font-family: Arial, sans-serif;" lang="EN-US">2,200</span><span style="font-size: 13pt; font-family: 微軟正黑體, sans-serif;">元～</span><span style="font-size: 13pt; font-family: Arial, sans-serif;" lang="EN-US">2,600</span><span style="font-size: 13pt; font-family: 微軟正黑體, sans-serif;">元，毛投報率約</span><span style="font-size: 13pt; font-family: Arial, sans-serif;" lang="EN-US">1.32</span><span style="font-size: 13pt; font-family: 微軟正黑體, sans-serif;">～</span><span style="font-size: 13pt; font-family: Arial, sans-serif;" lang="EN-US">1.5</span><span style="font-size: 13pt; font-family: 微軟正黑體, sans-serif;">％，因此與辦公相較，除非辦公的業主真的有急需，否則多半不會大降價。</span></p>
<p class="MsoNormal" style="margin-top: 9.0pt; mso-para-margin-top: .5gd; text-align: justify; text-justify: inter-ideograph; line-height: 23.0pt; mso-line-height-rule: exactly; tab-stops: 6.0cm;"><span style="font-size: 13pt; font-family: 微軟正黑體, sans-serif;">另外，辦公室幾乎沒有新增的買賣供給，因此商辦沒有住宅市場所謂的賣壓，才會形成商辦「無價也無量」的窘境。</span></p>
<p class="MsoNormal" style="margin-top: 9.0pt; mso-para-margin-top: .5gd; text-align: justify; text-justify: inter-ideograph; line-height: 23.0pt; mso-line-height-rule: exactly; tab-stops: 6.0cm;"><span style="font-size: 13pt; font-family: 微軟正黑體, sans-serif;">至於工業廠辦類交易優於商辦，主因在於有讓價、有投報率、有量。以內湖科技園區而言，目前平均毛投報率達</span><span style="font-size: 13pt; font-family: Arial, sans-serif;" lang="EN-US">2.6</span><span style="font-size: 13pt; font-family: 微軟正黑體, sans-serif;">～</span><span style="font-size: 13pt; font-family: Arial, sans-serif;" lang="EN-US">3.0</span><span style="font-size: 13pt; font-family: 微軟正黑體, sans-serif;">％，顯示價格適當下修，因此投報率比兩、三年前高，交易量才能維持一定水準。</span></p>
<p class="MsoNormal" style="margin-top: 9pt; line-height: 23pt; text-align: center;"><img src="http://img.chinatimes.com/newsphoto/2017-08-22/clipping/656/a05a00_t_01_02.jpg" alt="前7月土地交易 超越廠辦" /></p>
