Hong Kong's Property Sector May Face Downward Pressure in Near Term -- Market Talk

Dow Jones02-21

0818 GMT - Hong Kong's property market may continue to face downward pressure in the short to medium term due to structural factors such as an aging population, higher private and public housing supply, and diminishing holding power of both developers and homeowners, CCB International analysts Lung Siufung and Elena Chen say. They expect residential property prices to decline 10%-15% in 2024-2025 until supply eases and household finances improve. They forecast retail rents to rise between 0%-5% a year in 2024 and 2025 given the low base and for office rents to correct further. They prefer developers with light balance sheets such as CK Asset and Sino, followed by landlords such as Link REIT, Swire and developers with rich pipelines. (monica.gupta@wsj.com)

(END) Dow Jones Newswires

February 21, 2024 03:18 ET (08:18 GMT)

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They expect residential property prices to decline 10%-15% in 2024-2025 until supply eases and household finances improve. They forecast retail rents to rise between 0%-5% a year in 2024 and 2025 given the low base and for office rents to correct further. They prefer developers with light balance sheets such as CK Asset and Sino, followed by landlords such as Link REIT, Swire and developers with rich pipelines. 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