Goldman Sachs expects Hong Kong property prices to rise by 12% this year, maintaining a cautious outlook on the retail market
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Goldman Sachs has raised its forecast for Hong Kong's property price increase this year from 5% to 12%, expecting a 3% rise in office rents in the core Central district and a moderate 2% growth in the retail market rents. The reasons for the upward revision include government licensing and immigration policies driving demand, strong rent growth, and declining mortgage rates. Goldman Sachs has upgraded the ratings of HENDERSON LAND and SINO LAND to "Buy," with target prices of HKD 39 and HKD 14.6, respectively
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