Two major real-estate developers, Sun Hung Kai Properties Ltd., and Hang Lung Properties Ltd. reported fiscal net profit for the six months ending December 31 last year, while the second exceeded largely the first in the revenue growth of the leasing market.
Hang Lung said its rental income rose 13 percent to HK$886.5 million, due to the steady growth both in the local and Shanghai market, while SHKP said its rental income rose 0.1 per cent to HK$2.49 billion. It remains unclear that why the two growth figures dismatch so much. (Bless I have a chance to ask the Chaiman of SHKP)
The government figures in January showed that housing, the biggest swing factor in Consumer price index, has fell by 3.1 percent, with private housing rents drop 3.9 per cent.
Things may not be that optimistic, though SHKP got a nearly double net profit from a year earlier.