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<Research>G Sachs: HK Residential Recovery Remains Solid Amid Macro Uncertainty; 12% Home Price Growth Forecast Kept for 2026
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Despite macro uncertainty, the recovery momentum of Hong Kong's residential market remained solid, according to Goldman Sachs' research report. The Centa-City Leading Index (CCL) has gained a total of 6.6% YTD, while total trading volume in March still rose 17% YoY to 6,000. By developers, SHK PPT (00016.HK) outperformed the sector in 1Q26, recording approx. $13 billion contracted sales and achieving a market share of 25%, while the market shares of HENDERSON LAND (00012.HK) and NEW WORLD DEV (00017.HK) were 9% and 6% respectively. The broker maintained its forecast of a 12% YoY increase in home prices for 2026. In the office segment, the pace of recovery has been faster than the broker's forecast, supported by a rebound in the IPO market. Although net absorption temporarily declined, average monthly rents in March still inched up 0.1% MoM, bringing the YTD total incline to 1.5%. Leasing demand remained concentrated in core districts such as Central and Tsim Sha Tsui, accounting for around 50% of overall transaction. Goldman Sachs previously forecasted that overall office rents/ Central office rents would remain flat/ rise 3% YoY each this year. If Asia can serve as a safe haven and attract investment, there will be upside risk, and it is expected that Hongkong Land and SWIREPROPERTIES (01972.HK) will be the key beneficiaries. Auto-translated by AI This article was automatically translated by AI, the original language version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. More Details
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