大行評級|傑富瑞:預計明年香港樓價錄中個位數升幅 偏好股息率吸引及基本因素穩健的公司
傑富瑞發表報吿,預計明年香港樓價錄中個位數升幅,主要由黃金地段的中小型單位帶動,而啟德及新界項目則可能因供應充裕而滯後。由於港元強勢及結構性重整,零售業銷售額或錄低單位數跌幅。進入大規模落成年,寫字樓空置率可能由13%,升至介乎13%至17%。
該行料明年首季最優惠利率將回落至5%,按揭利率料回落至3.25%,低於大眾化住宅租金回報率3.65%,重返正利差,即租金回報率高於按揭利率;明年租金料於現水平穩定。以樓價而言,倘按揭利率降近100點子可釋放約10%的可負擔能力。由於啟德及新界區庫存高企,區內樓價及租金料受壓,而位於核心區的大眾化住宅料首先復甦。該行偏好股息率吸引及基本因素穩健的公司,包括信和置業、領展、太古地產及新鴻基地產。
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