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4-Traders Homepage  >  Equities  >  Stock Exchange of Hong Kong  >  Henderson Land Development Co., Ltd.    0012   HK0012000102

End-of-day quote. End-of-day quote  - 06/22
42.7 HKD   +0.59%
06/05HENDERSON LAND : Ex-dividend day for final dividend
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06/05HENDERSON LAND : BONUS ISSUE: 1 new share for 10 existing shares
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Henderson Land Development : Crowds jostle for Hong Kong flats, no end in sight to housing boom

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01/13/2018 | 10:08am CEST
Buyers and property agents line up for developer Sun Hung Kai's property sales in Hong Kong

HONG KONG (Reuters) - Hong Kong's red-hot property market kicked off 2018 with hundreds queuing to buy flats in the first major property launch of the year on Saturday, backing expectations strong demand will further lift record prices by 5 to 20 percent over the year. The Asian financial hub has one of the most expensive housing markets in the world, with private home prices shattering historic records for 13 months in a row and rising almost 200 percent since 2008. Among the some 100 pre-sale apartments offered by major local developer Sun Hung Kai Properties (>> Sun Hung Kai Properties Limited) on Saturday, the least expensive flat at a size of 382 square feet costs about HK$8 million ($1.02 million), or HK$21,000 per square foot, though with a certain payment plan the buyer could get a 22 percent discount.

HONG KONG (Reuters) - Hong Kong's red-hot property market kicked off 2018 with hundreds queuing to buy flats in the first major property launch of the year on Saturday, backing expectations strong demand will further lift record prices by 5 to 20 percent over the year. The Asian financial hub has one of the most expensive housing markets in the world, with private home prices shattering historic records for 13 months in a row and rising almost 200 percent since 2008. Among the some 100 pre-sale apartments offered by major local developer Sun Hung Kai Properties (>> Sun Hung Kai Properties Limited) on Saturday, the least expensive flat at a size of 382 square feet costs about HK$8 million ($1.02 million), or HK$21,000 per square foot, though with a certain payment plan the buyer could get a 22 percent discount.

The flats are located about an hour's commute away from the central business district.

"For everybody in Hong Kong, buying a flat is a life goal," said 26-year-old Ms. Chau, one of the some 600 potential buyers queueing up in the first hour.

"I am angry that housing prices keep going up. Now the value of HK$10,000 is like HK$1,000 in the past. For many people they cannot afford to buy unless they have their family's help."

While Hong Kong's flats are getting more expensive, many are also getting smaller. Later this month, major developer Henderson Land Development (>> Henderson Land Development Co., Ltd.) is expected to launch sales for a residential project with flat sizes ranging between 180 and 420 square feet. Multiple property consultancies and agencies expect home prices to climb a further five to 20 percent in 2018 with no immediate end in sight to the boom.

Although the city's de facto central bank has imposed eight rounds of mortgage tightening measures since 2009 on top of the government's tax and regulatory measures, analysts say these measures have effectively locked up the second-hand market's supply, further fueling prices. But the government stresses it has no intention to relax the so-called "spicy measures." "Due to very low interest rates, high liquidity and the imbalance of housing demand and supply, the property market is now still red-hot, prices are still at an extremely high level and there is no sign of it coming down," Acting Secretary for Transport and Housing, Raymond So, told legislators on Thursday. "Therefore, at the moment the government has no intention to ease 'spicy measures.'"

(Reporting by Venus Wu; Editing by Shri Navaratnam)

By Venus Wu

Stocks mentioned in the article
ChangeLast1st jan.
SUN HUNG KAI PROPERTIES LIMITED 0.49% 121.9 End-of-day quote.-6.59%
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Financials ( HKD)
Sales 2018 24 952 M
EBIT 2018 9 279 M
Net income 2018 18 026 M
Debt 2018 33 727 M
Yield 2018 3,60%
P/E ratio 2018 10,43
P/E ratio 2019 11,54
EV / Sales 2018 8,88x
EV / Sales 2019 7,50x
Capitalization 188 B
Chart HENDERSON LAND DEVELOPMENT
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Henderson Land Development Technical Analysis Chart | 0012 | HK0012000102 | 4-Traders
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Mean consensus OUTPERFORM
Number of Analysts 20
Average target price 51,6  HKD
Spread / Average Target 21%
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Managers
NameTitle
Shau Kee Lee Chairman & Managing Director
Andrew Fung Chief Financial Officer
Tak Cheung Kum GM-Information Technology Department
Ying Chee Yip Executive Director
Kwok Lam Suen Executive Director
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