"Big Banks" HSBC is optimistic about the real estate markets in Hong Kong and Singapore, with capital flow and policy support being key driving forces

HSBC's research report points out that supported by structural favorable factors, there is an optimistic outlook for the real estate industries in Hong Kong and Singapore. The bank recommends five stocks with a "buy" rating, including Hong Kong's Sun Hung Kai Properties (00016.HK), Henderson Land Development (00012.HK), and Sino Land Company (00083.HK), as well as Singapore's City Developments (CIT) and UOL Group (UOL).

Strong stock market performance has brought a positive wealth effect to the real estate markets in both regions, and liquidity remains abundant. The Hong Kong market is no longer directly competing with the Chinese real estate market for the first time, as the mainland market is still in a period of adjustment. This has made Hong Kong the main beneficiary of the redistribution of mainland funds. According to data from Centaline Property, mainland buyers accounted for 25% of residential sales in Hong Kong in 2025, while investments from large Chinese technology and financial companies in Hong Kong commercial real estate also demonstrate long-term confidence in the market.

On the other hand, Singapore has launched a stock market development plan (EQDP) with a scale of SGD 5 billion, aimed at revitalizing the stock market and attracting local funds into the undervalued real estate sector, injecting new vitality into the market