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Major rating | UBS group: Hong Kong property stocks are expected to continue to rebound, with Henderson Land, Kerry PPT, and SHK PPT being the top choices.
UBS group's report points out that Hong Kong property prices have adjusted by 28% since 2018, mainly due to higher interest rate ceilings as interest rates rise. However, the bank believes that with interest rate cuts, limited supply, inflow of population, and rising rents, property prices may start to rise from now on, with a forecasted compound annual growth rate of 5% for residential rents by 2030. The bank holds a positive view on hong kong property stocks, believing that the industry's current price is discounted by 56% compared to the average net asset value (NAV), still within the undervalued range since 1994. Property stocks are expected to continue to rebound, with Henderson Land, Kerry PPT, and SHK PPT being the top choices in the industry.
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