Hong Kong property stocks are doing well. Wharf REIC (01997) rose 2.4%. The sector is short-term strong, but facing fundamental challenges.
Hong Kong property stocks rose in early trading, with Wharf Reic (01997) up 2.4%, Henderson Land (00012) up 2.45%, SHK PPT (00016) up 1.63%, New World Dev (00017), Hang Lung PPT (00101), Sino Land (00083) and others followed suit. The Tourism Board announced that the preliminary number of visitors to Hong Kong in June was 3.13 million, an increase of 14% from the same period last year. Cumulatively, there were about 21 million visitors to Hong Kong in the first half of this year, an increase of 64% compared to last year, with an average daily passenger volume of 0.116 million.
Market Chatter: Hong Kong Real Estate Developers Continue Sweetening Price Offerings to Drive Sales
Real estate developers in Hong Kong choose to continue sweetening their pricing to clear their excess inventory as interest rate reductions and a robust economic recovery continue to dampen demand, the South China Morning Post reported, citing analysts.
CK Asset (01113): Has already acquired the residential land in Sha Tin Siu Lek Yuen and will continue to buy land in Hong Kong if the price is right.
The first residential land in Sha Tin Siu Lek Yuen for the 2024 fiscal year of the Hong Kong government was closed at noon today after the cancellation of 'Make Hong Kong Spicy' campaign.
Furui: Bullish on the recovery of Hong Kong's property market in the first half of the year. First choice for developers are Sun Hung Kai Properties and Sino Land.
Furui released a research report stating that Hong Kong's residential building sales data show that Hong Kong's property market is recovering in the first half of the year, which is beneficial to developers. Even if there are more price cuts for new projects in the third quarter, strong leasing activity will support asset yields and attract investment demand, which will indirectly help sales. Therefore, the bank still prefers developers' stocks over house rental companies, and its top choices are Sun Hung Kai Properties (00016) and Sino Land (00083). Furui predicts that developers will continue to offer discounts in the third quarter, and some developers may delay launching new projects to maintain the average profit margin. However, before an interest rate cut becomes more clear in the fourth quarter, discounts for new projects are expected to continue.
Furui: Bullish on the Hong Kong property market's recovery in the first half of the year. Sino Land (00083) and Sino Land (00016) are preferred developers.
Furui stated that the sales data of residential buildings in Hong Kong shows that the Hong Kong property market is recovering in the first half of the year, which is a bullish sign for developers.
Hong Kong's Distressed Commercial Real Estate Sales Soar in H1
Distressed commercial real estate sales in Hong Kong surged in the first half to comprise 73% of the total volume, the South China Morning Post reported Tuesday, citing real estate firm CBRE.
Market Chatter: Hong Kong Office Vacancy Rate Hits New High in June
Hong Kong's office vacancy rate hit a new high of about 17% in the second quarter, with 15 million square feet vacant, The Standard reported Tuesday, citing CBRE.
Collateralized mortgaging: After the withdrawal of the spice, new Hong Kong people have become a new purchasing power, and it is expected that the price of Hong Kong's entire year will narrow down by 3% to 5%.
According to Cao Deming, the mortgage ratio of new Hong Kong residents has been consistently high, increasing from 18.6% in the first quarter of last year to 29.2% in the second quarter of this year.
Hong Kong property stocks perform weakly, with Wharf REIC (01997) falling 3.38%. Institutions point out that the current Hong Kong property market is difficult to say whether there is a major turning point in the cycle.
Jinwu Finance News | Hong Kong property stocks have performed poorly, with Wharf REIC (01997) falling by 3.38%, Sino Land (00083) falling by 1.84%, Hysan Dev (00014) falling by 1.78%, Henderson Land (00012) falling by 1.42%, and New World Dev (00017) falling by 1.46%. China International Capital Corporation has released a research report stating that Hong Kong's economy will experience moderate growth in the first quarter of 2024, with GDP rising 2.7% year-on-year and 2.3% quarter-on-quarter. After the Hong Kong government withdrew the spicy measures, the first-quarter volume of Hong Kong residences increased significantly month-on-month (with a higher increase in the proportion of new homes, reaching 54%).
Sino Land Recognised Among World's Most Sustainable Companies by Time Magazine
Sino Group is pleased to announce that Sino Land Company Limited ('Sino Land'; Stock Code: 0083.HK) has been named one of the World's Most...
Hong Kong Rents Reach Pre-Pandemic Levels on Mainland Demand
Hong Kong’s rental prices have finally recovered to pre-pandemic levels as mainland Chinese students and professionals flock to the city.
Sino Land's board of directors chairman Huang Zhixiang has increased his shareholding by 44,000 shares, with each share priced at approximately HKD 8.20.
According to the latest information from the Hong Kong Stock Exchange, on June 12, Chairman of the Board of Directors, Huang Zhixiang, increased shareholding in Sino Land (00083) by 44,000 shares at a price of HKD 8.2041 per share, with a total amount of approximately HKD 361,000. The latest number of shares held after the increase is approximately 5.148 billion shares, with the latest shareholding ratio of 59.51%.
Channels: There are signs that the impact of the withdrawal of hot measures in Hong Kong is slowing down, and it is expected to affect the performance of mortgage and insurance in the third quarter.
According to the report from The Intelligent Finance and Economics App, on June 12th, Cao Deming, the vice president of Jieluo Mortgage Brokerage, stated that the Hong Kong property market saw a brief rebound in transactions after the removal of the stamp duty. Coupled with new buyers gradually moving into properties purchased earlier this year, the demand for new mortgages has significantly increased.
Individual Investors Own 32% of Sino Land Company Limited (HKG:83) Shares but Public Companies Control 57% of the Company
Key Insights Significant control over Sino Land by public companies implies that the general public has more power to influence management and governance-related decisions The largest shareholder of
Ricard Court: Hong Kong property prices rose for two consecutive months, and the increase narrowed markedly in April
The Zhitong Finance App learned that Chen Haichao, head of the research department of Li JiaGe Real Estate, said that Hong Kong property prices rose for two months, reflecting the effect of removing spiciness. However, the increase narrowed significantly in April, dragged down by new listings being sold at low prices, making it difficult for second-hand owners to continue to harden their prices. Some anxious landlords may need to cut prices accordingly, putting pressure on second-hand property prices;
China Property Stocks Rally as More Cities Unveil Rescue Steps
By Jiahui Huang Shares of Chinese property developers surged on rising expectations that government entities in China are moving to help buy up excess housing in a bid to revive the struggling real-es
China May Need Large-Scale Funding to Lower Housing Inventories
China may need to spend at least CNY3-4 trillion in order to "meaningfully lower" the country's primary housing inventory to a healthy level, Morgan Stanley analysts write in a note. The market is for
Does Sino Land (HKG:83) Have A Healthy Balance Sheet?
The external fund manager backed by Berkshire Hathaway's Charlie Munger, Li Lu, makes no bones about it when he says 'The biggest investment risk is not the volatility of prices, but whether you will
The Hong Kong Buildings Department approved 14 building plans and issued 15 entry sheets in February
The Hong Kong Buildings Department approved a total of 14 building plans in February, including 5 for Hong Kong Island, 4 for Kowloon and 5 for the New Territories; these include 9 residential and commercial developments, 2 commercial developments, and 3 community service developments.
CBRE: Progressive residential rating system has a big impact on developers with more luxury properties
The Hong Kong government mentioned earlier that it will introduce a progressive rating system for residential properties. Lin Ling, executive director of CBRE Hong Kong Valuation and Advisory Services, believes that this measure will have an impact on medium to luxury properties, and is expected to have a big impact on developers with more luxury properties.
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