摩根士丹利研报指出，明年香港房地产市场未见起色，预期仍然充满挑战，利率维持于较高水平，对香港楼市整体发展不利。虽然一众本地地产股估值较便宜，但大摩认为，市场供应过剩，发展商存货堆积，对市场发展并无帮助，目前预测明年上半年住宅楼价会继续下跌，随着按揭成数提高、额外印花税取消、按揭利率下降、租金水平回升及人口流入等利好因素出现，应有助楼价于明年下半年上升。Hong Kong Property Stocks are down, as of the time of writing, LINK REIT (00823) fell by 2.55% to HKD 32.45; SHK PPT (00016) fell by 2.23% to HKD 72.3; HENDERSON LAND (00012) fell by 2.07% to HKD 23.6.
According to Zhito Finance APP, Hong Kong Property Stocks are down, as of the time of writing, LINK REIT (00823) fell by 2.55% to HKD 32.45; SHK PPT (00016) fell by 2.23% to HKD 72.3; HENDERSON LAND (00012) fell by 2.07% to HKD 23.6; HANG LUNG PPT (00101) fell by 2.06% to HKD 6.18.
In news, the Federal Reserve announced on December 18, local time, that it would lower the federal funds rate target Range by 25 basis points to between 4.25% and 4.5%, in line with market expectations. The dot plot indicates a decrease in the forecasted rate cut from 4 times to 2 times next year. Powell stated that considerations for interest rate adjustments can be more cautious in the future, with the path depending on further progress in lowering inflation. On December 19, the Hong Kong Monetary Authority lowered the base rate by 25 basis points to 4.75%.
Morgan Stanley's Research Reports pointed out that next year the Hong Kong Real Estate market shows no signs of improvement, and expectations remain challenging. High interest rates are unfavorable for the overall development of the Hong Kong property market. Although local Property stocks are relatively cheap, Morgan Stanley believes that market oversupply and developers' inventories piling up do not aid market development. It is currently predicted that residential property prices will continue to decline in the first half of next year, but with the emergence of positive factors such as higher mortgage proportions, removal of additional stamp duty, lower mortgage rates, rising rental levels, and population Inflow, price increases in the second half of next year are expected.