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2026-11-12 10:54:49 Hong Kong's property market this year has been pioneered by large residential units, UOB Kay Hian issued a research report saying. In 10M26, the number of residential transactions grew 14% YoY to 58,564 cases. The transaction value of primary and secondary market homes hiked 20.7% YoY and 33.7% YoY respectively. Among them, transactions for units valued at HKD10-20 million and above HKD20 million jumped up 50.7% YoY and 40% YoY respectively, while transactions for units valued at HKD4 million to HKD10 million rose 16.3% YoY. Transactions for units below HKD4 million fell 9.2% YoY. The broker expected future supply to continue shifting toward smaller units, while potential interest rate hikes may compress rental yields. Together with rising supply, this could weaken the appeal of small units. It forecast that prices of small units will come under pressure next year, while prices of large units will remain relatively stable. The broker maintained an Equalweight rating on Hong Kong property stocks. Among them, SHK PPT (00016.HK) was listed as the top pick by the broker, citing the group's net gearing ratio of only 10.7% and forecast FY2027 dividend yield of 3.8%. The stock was rated Buy with a TP of HKD143.8. UOB Kay Hian was also positive on KERRY PPT (00683.HK) on its higher exposure to luxury properties and attractive dividend yield. The current share price implies an FY2027 forecast dividend yield of about 7.3%. The stock was also given a Buy rating with a TP of HKD27.8. ~ AASTOCKS Financial News Website: www.aastocks.com | |