Citigroup estimated the property market fell 1 into the holdings of rent shares

Hong Kong property prices have risen for a long time, Citigroup reported yesterday, the second half of the property market transactions into a quiet period, coupled with the increase in housing supply in Hong Kong, expected in February next year before the property prices will be slightly adjusted, the rate of 10%.

Called to buy into the Wharf too

Citigroup reported yesterday that the property market would be adjusted. The bank said that the supply of buildings in the second half of the year was 1.25 million, an increase of 10,000 units in the first half of the year. The increase in land supply prompted developers to speed up the sale of flats. Investment, the same adverse property prices.

Citigroup pointed out that the adjustment of this forecast is minor (downturn of a mini cycle), no chance to fall. In fact, Hong Kong property prices have risen by 9% in the first half of the year. Some brokers expect property prices to be adjusted. For example, BOC Hong Kong (02388) has forecast an increase of 8% in the first half of the year.

Citi said that Hong Kong retail sales bottomed out, although the recovery is slow, but the expected tight rental trend, in particular, Hong Kong Island East Quarry Bay rent 3 years expected to rise 3 percent, good rent shares, preferred nine (00004) and Swire Properties (01972), with the buy rating, nine positions target price rose slightly to 123.08 yuan, too up to 44.26 yuan.

Nomura is also optimistic about the rent shares, but also singing too good prospects, given the buy rating, the target price to see 31.8 yuan.