Property – Hong Kong
13% Upside In Valuations Compared With Previous Upcycle In 2016
The CCL index, which reflects secondary property prices, was last reported at a 91- week high of 185.16 (+0.4% wow), 2.79% from the historical high. The exodus of Hong Kong residents is unlikely to dent the local property market, as the city’s residential property market is still currently undersupplied. We upgrade our 2021 home price forecast from 5% to 8% and we see 13% upside in valuations compared with the previous upcycle in 2016. Maintain MARKET WEIGHT.