---
title: "Goldman Sachs expects Hong Kong property prices to rise by 12% this year, maintaining a cautious outlook on the retail market"
description: "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"
type: "news"
locale: "en"
url: "https://longbridge.com/en/news/276498973.md"
published_at: "2026-02-21T01:30:02.000Z"
---

# Goldman Sachs expects Hong Kong property prices to rise by 12% this year, maintaining a cautious outlook on the retail market

> 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

Another major bank has raised its forecast for the increase in local property prices this year, with Goldman Sachs adjusting its forecast from 5% to 12%. Additionally, Goldman Sachs expects that core Central District office rents will rise by 3% this year, while other areas will remain largely stable. The firm is also cautious about the retail market outlook, predicting a moderate rental growth of 2%.

Goldman Sachs explained the reasons for raising the forecast for this year's property price increase, including the expectation that government-issued visa and immigration policies will drive demand, as well as strong rental growth, which is expected to accumulate to about 20% between 2023 and 2025. Furthermore, the decline in mortgage rates may lead more people to switch from renting to buying.

## Upgraded HENDERSON LAND and SINO LAND Ratings to "Buy"

Goldman Sachs has upgraded the ratings of HENDERSON LAND (012) and SINO LAND (083) to "Buy," noting that these two companies are better positioned to benefit from the rising cycle of the Hong Kong residential market, with target prices raised to HKD 39 and HKD 14.6, respectively

### Related Stocks

- [00247.HK - TST PROPERTIES](https://longbridge.com/en/quote/00247.HK.md)
- [00012.HK - HENDERSON LAND](https://longbridge.com/en/quote/00012.HK.md)
- [00083.HK - SINO LAND](https://longbridge.com/en/quote/00083.HK.md)

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> **Disclaimer**: This article is for reference only and does not constitute any investment advice.