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[Brokerage Focus] CICC pointed out that the policy address provided limited support for Hong Kong real estate, but it will have a positive long-term impact on the industry.
King's Financial News | CICC released research reports, stating that the Chief Executive of Hong Kong has just announced the 2024 Policy Address, introducing population, economic, and housing policies favorable to the real estate industry. Although these incremental policies may be limited in scope and may disappoint some market participants to a certain extent, the reality is that the Hong Kong government does not have a lot of room for policy relaxation. Policy initiatives to attract talent and promote the economy may be the best outcome the industry can expect. The firm believes that these policies will have a positive impact on the real estate industry over time, especially for companies focused on community retail like Link and other house rental companies like N
Lyon: The impact of relaxing the loan-to-value ratio and attracting talent policies on the property market may be limited.
Lyon stated that it welcomes measures to relax mortgage ratios and attract talents, believing that it can stimulate investment demand, but considers that the impact of the measures on the property market may be limited.
Relaxing residential mortgage loan conditions, resolving the issue of 'subdivided units', the Hong Kong property market welcomes multiple major bullish factors.
①"Relaxing mortgage restrictions has indirectly reduced initial expenses, lowered the entry threshold, and removed mortgage restrictions based on property prices or usage. It is believed that this measure will attract market demand and foreign capital back to the Hong Kong property market." ②" It is expected that the number of first-hand property transactions in October may reach 3,000 units, potentially hitting a new high in nearly 7 months, and property prices are also expected to stop falling and rebound in the fourth quarter."
Hong Kong Relaxes Mortgage Rules to Bolster Property Market
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.
"Sun Hung Kai Properties Hong Kong Cyclothon 2024" Concludes With Resounding Success
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