《大行報告》美銀證券維持本港樓價今明兩年跌15%至20%看法 維持恆地(00012.HK)「跑輸大市」評級
美銀證券發表報告指,港府實施「0+3」入境檢疫安排,澳門政府日前亦宣布內地將恢復內地居民赴澳旅行團及電子簽註,或被視為中國內地逐步重新開放邊境的早期跡象,預期有助於提振投資者對香港地產股的情緒。
但該行預期,目前對香港房地產行業實際影響可能較為溫和,認為雖然放寬檢疫措施將有利於海外人士來港的商務出行需求,不過現時投資者反應未見熱烈,相反取消酒店隔離措施令香港人出境旅行的成本降低,因此維持對九倉置業(01997.HK)的「中性」評級,行業首選為太古地產(01972.HK)及太古A(00019.HK),目價價分別為40元、22元及65元。
另外,金管局宣布將按揭貸款的利率壓力測試要求從加3厘下調至加2厘。美銀證券指出,鑑於最優惠利率可能持續上升,預期未來壓力測試要求有可能進一步下調,但不太可能從根本上改變樓市需求疲弱狀況,維持本港樓價今明兩年下跌15%至20%的預測不變,並維持恆地(00012.HK)的「跑輸大市」評級,目標價24元,但預期港府已準備推出更多放寬措施,以應對樓市進一步下跌。
美銀證券認為,要到內地通關時間表變得更加明確,行業才要迎來可持續的重估,同時人民幣貶值仍然是一個拖累因素。
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