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Hong Kong Property Stocks broadly declined, SWIRE PACIFIC A (00019) fell by 4.33%. DWS: The outlook for the Hong Kong property market remains pessimistic.
Gold News | Hong Kong Property Stocks experienced a widespread decline, with SWIRE PACIFIC A (00019) down 4.33%, SWIREPROPERTIES (01972) down 3.17%, WHARF REIC (01997) down 2.61%, NEW WORLD DEV (00017) down 2.58%, HENDERSON LAND (00012) down 2.53%, and SHK PPT (00016) down 1.67%. The recent performance of Hong Kong developers has garnered significant attention, with DWS Asia Pacific Investment Director Wu Shuangrong stating that, apart from a few developers experiencing growth due to contract sales recognition, the majority of developers' earnings are expected to fall short of last year's performance.
Hong Kong Property: Last week, the 20 major residential estates recorded 43 transactions in the secondary market, marking an increase for two consecutive weeks.
Wang Pindi, Director of the Research Department of Hong Kong Property, stated that the impact of festive factors has diminished, and secondary Trade is recovering from a low level.
A Look At The Fair Value Of Sun Hung Kai Properties Limited (HKG:16)
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.
Market Chatter: Sun Hung Kai to Launch 781 Units in Sai Sha, Hong Kong in Q1
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.