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Market Chatter: Kerry Properties Sells Out 250 Units in Yuen Long Project; Shares Rise 5%
After five consecutive weeks of decline, the Meilian real estate price Index has stabilized, with the confidence Index reporting 64.5 points, a decrease of 2.4% month-on-month.
"The Hong Kong Property Price Index" latest reports at 127.49 points, slightly rising by 0.02% month-on-month, stabilizing after five weeks of decline; however, compared to four weeks ago, the Hong Kong Property Price Index still dropped by 0.95%, and so far this year has recorded a decrease of about 0.5%.
[Brokerage Focus] Industrial Securities initiates a 'Shareholding' rating on KERRY PPT (00683), stating that quality properties in core cities will drive the company's revenue growth.
Jingu Financial News | Industrial Securities has released a Research Report indicating that KERRY PPT (00683) is deeply engaged in the property sales Business in key first and second-tier cities in China, focusing on high-end luxury Residence products. From 2021 to 2023, the accumulated rights land payment for acquiring land in Shanghai reached 24.5 billion yuan, among which the residential part of the Jinling Road composite project in Huangpu District, Shanghai, is named 'Jinling Huating' and is expected to launch in 2025. The bank expects this project to contribute ample Cash net Inflow to the company. The bank indicated that the company holds investment properties positioned in core first and second-tier cities such as Hong Kong, Peking, Shanghai, Shenzhen, and Hangzhou, with stable rental income and good anti-cyclical performance.
Hong Kong's financial budget proposal is expected to bring positive news, leading to a new round of rising waves in the real estate market.
The Chief Executive of the Residential Division of Midland Realty, Bu Shaoming, stated that the market is looking forward to Hong Kong's new Budget.
Kerry Properties Insider Ups Holding During Year
S&P: It is expected that the rental prices for Class A office buildings in Hong Kong will decline by 8-10% this year.
Standard & Poor's published a report stating that office rents in Hong Kong are expected to continue declining this year, and valuations will follow suit. Major real estate developers holding Grade A office properties will face the impact of property valuation adjustments.
