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<Research>UBS Expects HK Property Prices to Rebound Next Yr as Mainland Homebuyers' Interest Escalates
Recommend 4 Positive 17 Negative 11 |
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The UBS Evidence Lab conducted a survey on Chinese housing from August 4 to September 4 and interviewed 2,500 mainland consumers, according to a report from UBS. The results show that with the cancellation of Hong Kong's stamp duty, 29% of respondents expressed interest in purchasing property in Hong Kong, while 18% planning to enter the market within the next two years. In addition, Hong Kong remains the top choice for property investment outside mainland China. The broker believed that mainland buyers' interest in Hong Kong properties is further escalating, which will have a positive impact on the Hong Kong real estate market, especially in new home sales. Coupled with further reductions in mortgage rates, the broker predicted Hong Kong property prices to rebound next year and adjusted from the previous expectation of remaining flat to a growth of 5%. Among the stocks under its coverage, the broker preferred developers over landlords, It was bullish on HENDERSON LAND (00012.HK), KERRY PPT (00683.HK), SINO LAND (00083.HK), and SHK PPT (00016.HK). TPs and ratings are available in a separate table. AAStocks Financial News |
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