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« on: November 15, 2024, 06:02:03 AM »“每个人都想要现金”：为何有钱人纷纷抛售香港豪宅
艾莎2024年11月13日弗兰克·盖里设计的香港傲璇。两名中国大亨最近出售了他们在这栋建筑里的整层公寓。 Anthony Kwan for The New York TimesOne by one, tycoons who built their wealth on China’s economic rise have been giving up their trophy homes in Hong Kong.那些曾借助中国经济崛起的东风发了财的大亨们在一个接一个地抛售他们炫耀财富的香港豪宅。Two apartments in a Frank Gehry glass-and-steel tower that twists out of the mountainside. Three European-style mansions with turrets and swimming pools. Four white villas sitting in a row.两套山腰上那座弗兰克·盖里设计的形状扭曲的玻璃和钢铁塔楼里的公寓。三栋带角楼和游泳池的欧式豪宅。还有四栋连城一排的白色洋房。All but two of the properties have already sold for tens of millions of dollars each. And while it might be hard to believe, each one was a steal — snatched up for discounts of one-third to more than half of the previous values.这些房产除两处外，均悉数以数千万美元的售价卖出。虽然可能难以置信，但每处房产都以极低的价格成交，买者只花了原价三分之一到一半以上的折扣价。Hong Kong’s housing market has long had an are-you-kidding-me feel to it. For nearly 20 years, property prices have climbed higher and higher, turning it into one of the most unaffordable cities in the world, where the poor rented subdivided apartments so small they were colloquially known as “coffin homes.”香港的房地产市场长期以来有一种令人不可置信的感觉。近20年来，房价一直在攀升，使其成为世界上房价最让人承受不起的城市之一，穷人住的是群租房，面积如此之小，以至于被人称为“棺材房”。Now, many of the same people who contributed to the housing market’s inequities, from the builders to the wealthy speculators, have found themselves being forced to sell their prized homes fast. Their riches had swelled with an unfathomable rise in China’s real estate market, and its collapse and aftermath have left many short on cash.现在，许多导致香港房地产市场贫富不均的人，从建筑商到富有的投机者，都发现自己被迫迅速出售他们最宝贵的房产。他们的财富曾随着中国房地产市场不可思议的增长而膨胀，而中国房地产市场的崩溃及其后果已让他们中的许多人出现资金短缺。Most notable among them is Hui Ka Yan of the onetime property giant China Evergrande. Creditors seized his European-style homes, which were collectively worth more than $190 million, after the company collapsed. One of them sold this year for $58 million, less than half of the $130 million that a company tied to Evergrande and Mr. Hui had paid for it in 2009, according to the global real estate firm Knight Frank.他们中最引人注目的是许家印，他是曾经的房地产巨头中国恒大的创始人。恒大崩盘后，债权人没收了他总价值超过1.9亿美元的几栋欧式住宅。据全球房地产公司Knight Frank，其中一栋房产已在今年以5800万美元的价格售出，还不到恒大和一家与许家印有关的公司2009年购买这栋房产时支付的1.3亿美元的一半。香港种植道上出售的四栋洋房之一。这四栋洋房的售价为1.41亿美元，略低于它们2017年买入价的一半。A Hong Kong court ordered China Evergrande to liquidate this year, setting off a search by its foreign investors who were owed money for anything that could be sold off. Chinese authorities took Mr. Hui away last year and accused him and Evergrande of fraud.香港一家法院今年对中国恒大下了清盘令，引发了被恒大欠款的外国投资者寻找任何可出售资产的努力。中国当局已在去年将许家印拘留，指控他和恒大集团涉嫌财务造假。“Everyone is asking for money,” said Joseph Tang, the chairman of the real estate firm JLL in Hong Kong. Businesses are under pressure as the economy continues to slow, the broader property market is under strain and the cost of borrowing has climbed steeply.“每个人都想要现金，”香港房地产公司仲量联行的董事长曾焕平说。随着经济持续放缓，房地产市场承受着更大范围的负担，借贷成本攀升，企业面临压力。“The only thing that is sellable is residential property because, if you lower the price enough, there will be buyers,” Mr. Tang said.“唯一卖得出去的是住宅物业，因为如果把价格降到足够低，就会有买家，”曾焕平说。China’s rich are losing so much money that 432 men and women were stripped of their status as billionaires over the last three years, according to the Hurun China Rich List, published by a wealth research firm based in Shanghai.总部位于上海的一家财富研究公司发布的《胡润中国富豪榜》显示，中国的富人损失惨重，在过去三年里，有432人失去了亿万富翁的地位。Famous for its skyline of glass towers that once symbolized the city’s economic prowess, Hong Kong’s landscape is now a visual reminder of its problems. The city is still trying to reclaim its title as a hub for international finance and recover from the collateral damage caused by years of strict pandemic policies that made travel to the city at times impossible. In addition, political changes in Hong Kong have raised the legal stakes for Western companies.香港以玻璃大厦林立的天际线而闻名，这些大厦曾经象征着这座城市的经济实力。但现在，香港的景观却在视觉上提醒着人们它面临的问题。这座城市仍在努力恢复国际金融中心的头衔、从几年来严格的防疫政策造成的附带损害中恢复过来，这些政策使人们有时无法前往这座城市。此外，香港的政治变化也增加了西方公司在香港的法律风险。It was not just the owners of fancy homes who were caught out when the tide receded. Landlords of signature Hong Kong office buildings that housed the world’s best-known financial, legal and corporate institutions are scrambling to bring in new tenants to replace companies that have left. Busy shopping areas once crammed with small stores are still suffering from fewer tourists, and some storefronts remain boarded up. Nearly 17 percent of commercial property is empty, according to CBRE, the real estate firm.当潮水退去后，受困的不仅仅是豪宅的主人。香港标志性的写字楼曾是全球最知名的金融、法律和企业机构的所在地，其业主们如今正争相引进新租户，取代已经离开的公司。曾挤满小店的繁忙购物区仍然受到游客减少的影响，一些店面仍然封闭。房地产公司世邦魏理仕的数据显示，近17%的商业地产处于空置状态。The changes are rippling through the financial system, too. Banks that were once reliable lenders to Hong Kong’s property sector have suffered a surge in defaults from commercial real estate this year. The property sector is “working through its worst downturn since the Asian financial crisis” of 1997, and the sharpest pain is being felt by financial institutions, analysts at the ratings agency S&P Global wrote in a report. In response, lenders are charging more to landlords and developers whom they lend to.这些变化也正在波及整个金融体系。曾经是香港房地产业可靠贷款机构的银行今年遭遇了商业地产违约激增的情况。评级机构标准普尔全球的分析师在报告中写道，房地产行业正在“经历1997年亚洲金融危机以来最严重的低迷”，金融机构正感受到最剧烈的痛苦。作为回应，贷款机构向他们贷款的房东和开发商收取更高的费用。Higher interest rates and a strong currency have made it even more difficult to bounce back. The Hong Kong dollar is pegged to the U.S. dollar, and for four years, the Federal Reserve kept interest rates high to fight American inflation. As the Fed cut rates this year, Hong Kong’s monetary authority followed, lowering the interest rate in September to 5.25 percent. But that is still the highest point since 2007.更高的利率和坚挺的货币使反弹变得更加困难。港币与美元挂钩，四年来，美联储一直保持高利率以对抗美国的通货膨胀。随着美联储今年降息，香港金管局也紧随其后，在9月份将利率降至5.25%。但这仍然是2007年以来的最高点。The fate of Hong Kong’s currency may depend on the American central bank, but its economy is closely linked to the rest of China, where growth has slowed and prices have fallen. Hong Kong real estate is feeling China’s pain.港元的命运或许取决于美国央行，但香港的经济与中国其他地区密切相关，中国增长放缓，物价也在下跌。香港房地产正在感受到中国的痛苦。“Overall, the economy of China has always had a close relationship with Hong Kong, and the property market has always been highly correlated,” said Hannah Jeong, an executive director at CBRE.“总体而言，中国经济一直与香港有着密切的关系，房地产市场也一直高度相关，”世邦魏理仕执行董事郑亥延说。“When China’s economy goes down, Hong Kong’s economy follows,” she said.“当中国经济下滑时，香港经济也会随之下滑，”她说。The high-end luxury property sales have been dominated by what are known as “distressed sellers,” including some who are heavily exposed to the Chinese economy, according to Ms. Jeong. In many of these cases, their homes have been seized by a bank or creditors that are owed money.郑亥延说，高端豪宅的销售一直由所谓的“苦恼卖家”主导，其中包括一些深受中国经济影响的卖家。在许多情况下，他们的房子被银行或债权人扣押。Most of these properties were bought during a different era, when Hong Kong was flush with money from a booming China.这些房产大多是在另一个时代购买的，当时香港从蓬勃发展的中国内地获得了大量资金。曾与地产开发商、中国首富许家印有关的几处豪宅。In Mr. Gehry’s Opus Hong Kong building, which has 12 luxury apartments, two of the recent sellers were once among China’s richest men: the property developers Chen Hongtian and Chen Changwei. (They are not related.) Local news reports said Chen Hongtian’s apartment was one of a number of properties seized by lenders, including a 9,000-square-foot home that he had purchased soon after the Opus property in 2015.盖里设计的傲璇大厦有12套豪华公寓，最近的两名卖家曾经是中国最富有的人：房地产开发商陈红天和陈长伟（两人没有血缘关系）。当地新闻报道称，陈红天的公寓是被贷款机构扣押的多处房产之一，其中包括他在2015年购买傲璇房产后不久购买的一处9000平方英尺（约合836平米）的房产。His Opus apartment was “a little bit too tiny,” he told the local South China Morning Post in 2016. He also told the newspaper that luxury homes for sale in Hong Kong were “extremely rare.”2016年，他告诉香港的《南华早报》，他在傲璇的公寓“有点太小了”。他还告诉该报，香港市场上挂牌出售的豪宅“极其罕见”。No longer.如今已经不再是这样。A short drive away from Opus, along a winding road, is Black’s Link, where a cluster of three mansions once tied to Mr. Hui of Evergrande is. They are on sale for more than $190 million — one has been sold so far. The prices on the other two have come down since they were first listed last year.从傲璇沿着一条蜿蜒的道路驱车一小段路程就是布力径楼盘，那里有三栋曾经与恒大的许家印有关的豪宅。它们的售价超过1.9亿美元，目前已售出一套。自去年首次挂牌以来，另外两套房子的价格已经下降。Nearby on Plantation Road, four mansions recently went for $141 million, nearly half of what the sellers paid for it.在附近的种植道，有四栋豪宅最近以1.41亿美元的价格成交，几乎是卖家当年买入价的一半。Property experts expect more deals to come.房地产专家预计还会有更多交易。Nearly two dozen properties, each worth $50 million or more, have come on the market in Hong Kong this year.今年在香港有20余处豪宅进入市场，售价都在5000万美元或以上。摄影：Anthony Kwan艾莎(Alexandra Stevenson)是《纽约时报》上海分社社长，报道中国经济和社会新闻。点击查看更多关于她的信息。翻译：纽约时报中文网点击查看本文英文版。
Source: “每个人都想要现金”：为何有钱人纷纷抛售香港豪宅
艾莎2024年11月13日弗兰克·盖里设计的香港傲璇。两名中国大亨最近出售了他们在这栋建筑里的整层公寓。 Anthony Kwan for The New York TimesOne by one, tycoons who built their wealth on China’s economic rise have been giving up their trophy homes in Hong Kong.那些曾借助中国经济崛起的东风发了财的大亨们在一个接一个地抛售他们炫耀财富的香港豪宅。Two apartments in a Frank Gehry glass-and-steel tower that twists out of the mountainside. Three European-style mansions with turrets and swimming pools. Four white villas sitting in a row.两套山腰上那座弗兰克·盖里设计的形状扭曲的玻璃和钢铁塔楼里的公寓。三栋带角楼和游泳池的欧式豪宅。还有四栋连城一排的白色洋房。All but two of the properties have already sold for tens of millions of dollars each. And while it might be hard to believe, each one was a steal — snatched up for discounts of one-third to more than half of the previous values.这些房产除两处外，均悉数以数千万美元的售价卖出。虽然可能难以置信，但每处房产都以极低的价格成交，买者只花了原价三分之一到一半以上的折扣价。Hong Kong’s housing market has long had an are-you-kidding-me feel to it. For nearly 20 years, property prices have climbed higher and higher, turning it into one of the most unaffordable cities in the world, where the poor rented subdivided apartments so small they were colloquially known as “coffin homes.”香港的房地产市场长期以来有一种令人不可置信的感觉。近20年来，房价一直在攀升，使其成为世界上房价最让人承受不起的城市之一，穷人住的是群租房，面积如此之小，以至于被人称为“棺材房”。Now, many of the same people who contributed to the housing market’s inequities, from the builders to the wealthy speculators, have found themselves being forced to sell their prized homes fast. Their riches had swelled with an unfathomable rise in China’s real estate market, and its collapse and aftermath have left many short on cash.现在，许多导致香港房地产市场贫富不均的人，从建筑商到富有的投机者，都发现自己被迫迅速出售他们最宝贵的房产。他们的财富曾随着中国房地产市场不可思议的增长而膨胀，而中国房地产市场的崩溃及其后果已让他们中的许多人出现资金短缺。Most notable among them is Hui Ka Yan of the onetime property giant China Evergrande. Creditors seized his European-style homes, which were collectively worth more than $190 million, after the company collapsed. One of them sold this year for $58 million, less than half of the $130 million that a company tied to Evergrande and Mr. Hui had paid for it in 2009, according to the global real estate firm Knight Frank.他们中最引人注目的是许家印，他是曾经的房地产巨头中国恒大的创始人。恒大崩盘后，债权人没收了他总价值超过1.9亿美元的几栋欧式住宅。据全球房地产公司Knight Frank，其中一栋房产已在今年以5800万美元的价格售出，还不到恒大和一家与许家印有关的公司2009年购买这栋房产时支付的1.3亿美元的一半。香港种植道上出售的四栋洋房之一。这四栋洋房的售价为1.41亿美元，略低于它们2017年买入价的一半。A Hong Kong court ordered China Evergrande to liquidate this year, setting off a search by its foreign investors who were owed money for anything that could be sold off. Chinese authorities took Mr. Hui away last year and accused him and Evergrande of fraud.香港一家法院今年对中国恒大下了清盘令，引发了被恒大欠款的外国投资者寻找任何可出售资产的努力。中国当局已在去年将许家印拘留，指控他和恒大集团涉嫌财务造假。“Everyone is asking for money,” said Joseph Tang, the chairman of the real estate firm JLL in Hong Kong. Businesses are under pressure as the economy continues to slow, the broader property market is under strain and the cost of borrowing has climbed steeply.“每个人都想要现金，”香港房地产公司仲量联行的董事长曾焕平说。随着经济持续放缓，房地产市场承受着更大范围的负担，借贷成本攀升，企业面临压力。“The only thing that is sellable is residential property because, if you lower the price enough, there will be buyers,” Mr. Tang said.“唯一卖得出去的是住宅物业，因为如果把价格降到足够低，就会有买家，”曾焕平说。China’s rich are losing so much money that 432 men and women were stripped of their status as billionaires over the last three years, according to the Hurun China Rich List, published by a wealth research firm based in Shanghai.总部位于上海的一家财富研究公司发布的《胡润中国富豪榜》显示，中国的富人损失惨重，在过去三年里，有432人失去了亿万富翁的地位。Famous for its skyline of glass towers that once symbolized the city’s economic prowess, Hong Kong’s landscape is now a visual reminder of its problems. The city is still trying to reclaim its title as a hub for international finance and recover from the collateral damage caused by years of strict pandemic policies that made travel to the city at times impossible. In addition, political changes in Hong Kong have raised the legal stakes for Western companies.香港以玻璃大厦林立的天际线而闻名，这些大厦曾经象征着这座城市的经济实力。但现在，香港的景观却在视觉上提醒着人们它面临的问题。这座城市仍在努力恢复国际金融中心的头衔、从几年来严格的防疫政策造成的附带损害中恢复过来，这些政策使人们有时无法前往这座城市。此外，香港的政治变化也增加了西方公司在香港的法律风险。It was not just the owners of fancy homes who were caught out when the tide receded. Landlords of signature Hong Kong office buildings that housed the world’s best-known financial, legal and corporate institutions are scrambling to bring in new tenants to replace companies that have left. Busy shopping areas once crammed with small stores are still suffering from fewer tourists, and some storefronts remain boarded up. Nearly 17 percent of commercial property is empty, according to CBRE, the real estate firm.当潮水退去后，受困的不仅仅是豪宅的主人。香港标志性的写字楼曾是全球最知名的金融、法律和企业机构的所在地，其业主们如今正争相引进新租户，取代已经离开的公司。曾挤满小店的繁忙购物区仍然受到游客减少的影响，一些店面仍然封闭。房地产公司世邦魏理仕的数据显示，近17%的商业地产处于空置状态。The changes are rippling through the financial system, too. Banks that were once reliable lenders to Hong Kong’s property sector have suffered a surge in defaults from commercial real estate this year. The property sector is “working through its worst downturn since the Asian financial crisis” of 1997, and the sharpest pain is being felt by financial institutions, analysts at the ratings agency S&P Global wrote in a report. In response, lenders are charging more to landlords and developers whom they lend to.这些变化也正在波及整个金融体系。曾经是香港房地产业可靠贷款机构的银行今年遭遇了商业地产违约激增的情况。评级机构标准普尔全球的分析师在报告中写道，房地产行业正在“经历1997年亚洲金融危机以来最严重的低迷”，金融机构正感受到最剧烈的痛苦。作为回应，贷款机构向他们贷款的房东和开发商收取更高的费用。Higher interest rates and a strong currency have made it even more difficult to bounce back. The Hong Kong dollar is pegged to the U.S. dollar, and for four years, the Federal Reserve kept interest rates high to fight American inflation. As the Fed cut rates this year, Hong Kong’s monetary authority followed, lowering the interest rate in September to 5.25 percent. But that is still the highest point since 2007.更高的利率和坚挺的货币使反弹变得更加困难。港币与美元挂钩，四年来，美联储一直保持高利率以对抗美国的通货膨胀。随着美联储今年降息，香港金管局也紧随其后，在9月份将利率降至5.25%。但这仍然是2007年以来的最高点。The fate of Hong Kong’s currency may depend on the American central bank, but its economy is closely linked to the rest of China, where growth has slowed and prices have fallen. Hong Kong real estate is feeling China’s pain.港元的命运或许取决于美国央行，但香港的经济与中国其他地区密切相关，中国增长放缓，物价也在下跌。香港房地产正在感受到中国的痛苦。“Overall, the economy of China has always had a close relationship with Hong Kong, and the property market has always been highly correlated,” said Hannah Jeong, an executive director at CBRE.“总体而言，中国经济一直与香港有着密切的关系，房地产市场也一直高度相关，”世邦魏理仕执行董事郑亥延说。“When China’s economy goes down, Hong Kong’s economy follows,” she said.“当中国经济下滑时，香港经济也会随之下滑，”她说。The high-end luxury property sales have been dominated by what are known as “distressed sellers,” including some who are heavily exposed to the Chinese economy, according to Ms. Jeong. In many of these cases, their homes have been seized by a bank or creditors that are owed money.郑亥延说，高端豪宅的销售一直由所谓的“苦恼卖家”主导，其中包括一些深受中国经济影响的卖家。在许多情况下，他们的房子被银行或债权人扣押。Most of these properties were bought during a different era, when Hong Kong was flush with money from a booming China.这些房产大多是在另一个时代购买的，当时香港从蓬勃发展的中国内地获得了大量资金。曾与地产开发商、中国首富许家印有关的几处豪宅。In Mr. Gehry’s Opus Hong Kong building, which has 12 luxury apartments, two of the recent sellers were once among China’s richest men: the property developers Chen Hongtian and Chen Changwei. (They are not related.) Local news reports said Chen Hongtian’s apartment was one of a number of properties seized by lenders, including a 9,000-square-foot home that he had purchased soon after the Opus property in 2015.盖里设计的傲璇大厦有12套豪华公寓，最近的两名卖家曾经是中国最富有的人：房地产开发商陈红天和陈长伟（两人没有血缘关系）。当地新闻报道称，陈红天的公寓是被贷款机构扣押的多处房产之一，其中包括他在2015年购买傲璇房产后不久购买的一处9000平方英尺（约合836平米）的房产。His Opus apartment was “a little bit too tiny,” he told the local South China Morning Post in 2016. He also told the newspaper that luxury homes for sale in Hong Kong were “extremely rare.”2016年，他告诉香港的《南华早报》，他在傲璇的公寓“有点太小了”。他还告诉该报，香港市场上挂牌出售的豪宅“极其罕见”。No longer.如今已经不再是这样。A short drive away from Opus, along a winding road, is Black’s Link, where a cluster of three mansions once tied to Mr. Hui of Evergrande is. They are on sale for more than $190 million — one has been sold so far. The prices on the other two have come down since they were first listed last year.从傲璇沿着一条蜿蜒的道路驱车一小段路程就是布力径楼盘，那里有三栋曾经与恒大的许家印有关的豪宅。它们的售价超过1.9亿美元，目前已售出一套。自去年首次挂牌以来，另外两套房子的价格已经下降。Nearby on Plantation Road, four mansions recently went for $141 million, nearly half of what the sellers paid for it.在附近的种植道，有四栋豪宅最近以1.41亿美元的价格成交，几乎是卖家当年买入价的一半。Property experts expect more deals to come.房地产专家预计还会有更多交易。Nearly two dozen properties, each worth $50 million or more, have come on the market in Hong Kong this year.今年在香港有20余处豪宅进入市场，售价都在5000万美元或以上。摄影：Anthony Kwan艾莎(Alexandra Stevenson)是《纽约时报》上海分社社长，报道中国经济和社会新闻。点击查看更多关于她的信息。翻译：纽约时报中文网点击查看本文英文版。
Source: “每个人都想要现金”：为何有钱人纷纷抛售香港豪宅