UBS Equities-Hong Kong Property _What would it take to mitigate the risks...-109960765
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报告维度
- 📄 文件全名
- 《UBS Equities-Hong Kong Property _What would it take to mitigate the risks...-109960765.pdf》
- 🎯 适合读者
- 战略规划行业研究员
- 📊 核心数据
- 4.0% for OCF breakeven to occur, even aggressively assuming office and retail rents
- Despite the HKMA 1) easing the LTV ratio from 60% to 70% for non-residential
- residential mortgage, a typical CRE loan is made at 50-60% LTV with only a 5-6 year
- tenor. With office rents having already fallen 36% since Q219 and cap rate expansion
- risk remaining (we estimate for every 1ppt increase, office valuations would fall 25%),
- 🏷️ 核心议题
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