智通财经网·2026-02-23 02:06Group 1 - Goldman Sachs has raised its forecast for property price increases this year from 5% to 12%, driven by government visa and immigration policies that are expected to boost demand [1] - Strong rental growth is anticipated, with an estimated cumulative increase of about 20% from 2023 to 2025, alongside declining mortgage rates which may encourage more people to transition from renting to buying [1] - The bank expects that government policies will continue to support population and income growth, as well as housing affordability [1] Group 2 - The bank predicts a 3% year-on-year increase in core Central District office rents, while rents in other areas are expected to remain stable [1] - A cautious outlook is provided for the retail market, with rental growth projected at a modest 2% due to competition from local travel and online shopping [1] - The bank upgraded the ratings of Henderson Land Development (00012) and Sino Land Company (00083) from "Sell" to "Buy," with target prices raised to HKD 39 and HKD 14.6 respectively, while maintaining a "Buy" rating for Sun Hung Kai Properties (00016) with a target price increased to HKD 159 [1] Group 3 - The bank downgraded Wharf Real Estate Investment Company (01997) from "Buy" to "Sell," and downgraded Link REIT (00823) from "Buy" to "Neutral," citing significant exposure to the retail sector and specific company-level challenges [2] - Target prices for Wharf Real Estate and Link REIT were reduced to HKD 28 and HKD 41.3 respectively [2] - The rating for MTR Corporation (00066) was downgraded from "Neutral" to "Sell," with a target price raised to HKD 36.1 [2]