大行评级丨小摩：上调今年香港楼价升幅预测至10%-15%，预期明年再升约5%

Group 1 - Morgan Stanley has raised its forecast for Hong Kong property price increase from 5%-7% to 10%-15% for this year, with an expectation of an additional 5% increase next year [1] - The firm believes the industry has entered a new phase, transitioning from the initial recovery stage to an expansion phase [1] - In a positive market environment, valuation standards are shifting from dividend yield to net asset value discount [1] Group 2 - The rating for Sun Hung Kai Properties has been upgraded to "Overweight," with a target price of HKD 162, reflecting a 20% discount to net asset value based on historical average levels during the expansion phase [1] - The firm is also optimistic about Cheung Kong Property and Henderson Land, with the former being particularly suitable for income-seeking investors, while the latter awaits clearer performance and dividend policy [1] - Mid-March is suggested as a better entry point for investments [1]