Homebuilders' FY2025 results were benefited from savings in interest costs, Citi Research issued a research report saying.

The broker also found the FY2026 guidance from listed companies to be highly encouraging, due to the anticipated increase in property sales deposit returns driven by years of rising home prices, core offices riding on leasing momentum on smaller rent reductions, and a positive return of high-end retail in mainland China.

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Citi Research believed that the dividends of SHK PPT (00016.HK)  -3.600 (-2.675%)    Short selling $338.08M; Ratio 199.457%   and Hongkong Land beat expectations, signaling an upside cycle, bolstered by rapid profit margin hike from property development and yields from investment properties.

However, the industry's fundamentals strengthened this year, and it is expected that supplementary investments for medium to long-term growth will accelerate. Citi Research selected stocks with growing EPS and shareholder return rates. Top picks are SHK PPT, CK ASSET (01113.HK)  -0.220 (-0.483%)    Short selling $30.71M; Ratio 80.323%   and SWIREPROPERTIES (01972.HK)  -0.220 (-0.948%)    Short selling $6.14M; Ratio 203.690%   .

The table below shows Citi Research's latest ratings and target prices for Hong Kong homebuilders:

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Stock│ Rating│ TP
WHARF HOLDINGS (00004.HK)  +0.480 (+2.192%)    Short selling $26.73M; Ratio 411.731%   │Sell│$21.15
HENDERSON LAND (00012.HK)  -0.500 (-1.702%)    Short selling $110.61M; Ratio 239.388%   │Buy│$35.32
HYSAN DEV (00014.HK)  -0.870 (-4.510%)    Short selling $13.21M; Ratio 361.397%   │Buy│$24.3
SHK PPT (00016.HK)  -3.600 (-2.675%)    Short selling $338.08M; Ratio 199.457%   │Buy│$168
NEW WORLD DEV (00017.HK)  -0.120 (-1.487%)    Short selling $4.00M; Ratio 31.384%   │Neutral│$11.32
MTR CORPORATION (00066.HK)  0.000 (0.000%)    Short selling $42.60M; Ratio 164.371%   │Sell│$30
SINO LAND (00083.HK)  -0.150 (-1.282%)    Short selling $26.41M; Ratio 409.386%   │Buy│$14.2
HANG LUNG PPT (00101.HK)  -0.180 (-1.991%)    Short selling $10.63M; Ratio 109.285%   │Buy│$11.2
KERRY PPT (00683.HK)  -0.240 (-1.078%)    Short selling $1.65M; Ratio 48.464%   | Buy | $23.2
FORTUNE REIT (00778.HK)  0.000 (0.000%)    Short selling $1.97M; Ratio 62.885%   | Buy | $6
LINK REIT (00823.HK)  -0.020 (-0.054%)    Short selling $46.67M; Ratio 71.481%   | Neutral | $36.8
CK ASSET (01113.HK)  -0.220 (-0.483%)    Short selling $30.71M; Ratio 80.323%   | Buy | $54.8
SWIREPROPERTIES (01972.HK)  -0.220 (-0.948%)    Short selling $6.14M; Ratio 203.690%   | Buy | $28.8
WHARF REIC (01997.HK)  -0.320 (-1.416%)    Short selling $40.31M; Ratio 160.210%   | Buy | $31.6
CHAMPION REIT (02778.HK)  0.000 (0.000%)    Short selling $1.36M; Ratio 653.624%   | Sell | $2.03
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-04-02 16:25.)

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