Latest Search
Quote
| Back Zoom + Zoom - | ||||
|
<Research>CLSA Predicts 5% Rise in HK Home Prices This Yr, Prefers Hysan & Link
Recommend 13 Positive 28 Negative 10 |
||||
|
||||
|
There is a recovery in Hong Kong home prices, paired with some new property sales receiving enthusiastic responses, CLSA said in a research report. The market sentiment is optimistic, driving up developers' stock prices year-to-date. The report predicted the uptrend in home prices will sustain, but the price increase is expected to be moderate, due to fading expectations for interest rate cuts and resilient Hong Kong mortgage rates. Historically, when home price growth slows or market sentiment peaks, property stock prices often experience a pullback. The second round of sales for SHK PPT (00016.HK)'s Sierra Sea Phase 2A received over 49,000 applications, oversubscribed by more than 214 times. The average price per square foot for these units is approximately HKD10,968, which is 5.5% and 3.1% above Phases 1A and 1B launched in April and May last year, respectively. However, this increment is less than the 6.8% market rise during the same period. Separately, there was rumor that Marriott International may acquire Rosewood Hotel Group, a subsidiary of CTFE. CLSA pointed out that Rosewood Hotel Group is a sister company of NEW WORLD DEV (00017.HK), and even if the transaction is finalized, CTFE is not expected to use the proceeds to repay NWD's debt. CLSA maintained its forecast for a 5% growth in Hong Kong home prices by 2026, with top stock picks being HYSAN DEV (00014.HK) and LINK REIT (00823.HK), both rated as Outperform. AASTOCKS Financial News Website: www.aastocks.com |
||||
Copied to Clipboard
 |
||||
