Goldman Sachs released a research report raising its forecast for 2026 home price increase from 5% to 12%, and anticipating that government visa and immigration policies will boost demand.

Moreover, strong rental growth (cumulative increase of about 20% from 2023 to 2025), coupled with lower mortgage rates, may lead more people to 'switch from renting to buying.'

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Following the removal of cooling measures at the start of FY2024, trading costs significantly reduced, which may also stimulate investment demand. The broker estimated future government policies to continue supporting population, income growth and housing affordability.

Regarding stocks, Goldman Sachs upgraded HENDERSON LAND (00012.HK)  -0.500 (-1.702%)    Short selling $110.61M; Ratio 239.388%   and SINO LAND (00083.HK)  -0.150 (-1.282%)    Short selling $26.41M; Ratio 409.386%   from Sell to Buy, believing both will benefit more from the upcycle of the Hong Kong residential market. The broker elevated its target prices to $39 and $14.6 each, while reaffirming rating at Buy for SHK PPT (00016.HK)  -3.600 (-2.675%)    Short selling $338.08M; Ratio 199.457%   , with a target price significantly raised to $159.

The unit inventory from the above three companies accounts for about 36% of the overall market, with various new projects underway. Furthermore, Goldman Sachs downgraded CK ASSET (01113.HK)  -0.220 (-0.483%)    Short selling $30.71M; Ratio 80.323%   from Buy to Neutral due to its smaller exposure to the Hong Kong property market, with its target price lifted to $53.

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On the other hand, the broker downgraded WHARF REIC (01997.HK)  -0.320 (-1.416%)    Short selling $40.31M; Ratio 160.210%   from Buy to Sell, and LINK REIT (00823.HK)  -0.020 (-0.054%)    Short selling $46.67M; Ratio 71.481%   from Buy to Neutral, due to their larger exposure to the retail sector and specific company-level issues or other structural challenges, with target prices dropped to $28 and $41.3, respectively.

Lastly, Goldman Sachs downgraded MTR CORPORATION (00066.HK)  0.000 (0.000%)    Short selling $42.60M; Ratio 164.371%   from Neutral to Sell, with its target price lifted to $36.1.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-04-02 16:25.)

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