UBS: Reiterates that Hong Kong property prices will remain stable this year, and local developers are optimistic about Sino Land
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最新报道：According to Bijie.com and ME News, on September 22 (UTC+8), UBS released a report stating that following the Federal Reserve's 25 basis point rate cut and the Hong Kong Monetary Authority's adjustment to the overnight discount rate, Hong Kong banks announced a 12.5 basis point cut in their prime rate to 5.125%, a move in line with market expectations. The adjustment will reduce the mortgage rate for new residential properties from 3.5% to 3.375%. UBS reiterated its forecast that Hong Kong property prices will remain stable in 2025, with a modest rebound of 0% to 5% in 2026, likely after inventory is reduced. Among developers, UBS is optimistic that Sino Land, Henderson Land Development, and Kerry Properties will outperform peers such as Sun Hung Kai Properties (due to the latter's unattractive dividend yield). UBS also favors Hang Lung Properties, as a lower HIBOR will reduce its interest expenses. UBS raised its target price for Sun Hung Kai Properties by 14% to HK$11.2, with a rating of "buy", reflecting a narrowing of the net asset value discount from 40% to 35%. Supporting factors include strong sales of Harbour City and Broadway; and a possible reduction in scrip dividend arrangements.
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