Jinwu Financial News | According to HSBC Global Research, Hong Kong housing prices are expected to stabilize in the second half of 2024 and rise 5% in 2025, reversing the downward trend since 2022. Although housing prices have fallen 7% since this year, they have seen a moderate rise in the past three weeks.
According to the bank, the property market recorded good growth in October, and sales of new listings were strong, mainly benefiting from the return of local buyers and investors in Hong Kong. However, interest rate cuts and favorable policies to promote the recovery of the property market are expected to have a positive wealth effect.
The bank is optimistic about Sun Hung Kai Properties (00016) and believes that SHKP is one of the key companies that can benefit from the recovery. Kerry Construction (00683) is expected to be profitable due to the restoration of luxury homes. Changshi Group (01113) may eventually surprise investors due to low sales and dividend expectations. All three have a “buy” rating.
