[ET Net News Agency, 11 October 2018] Morgan Stanley said the latest HK Policy Address
seems positive for developers - no further demand-side measures, potentially less private
housing supply and more farmland/industrial building conversions.
However, rising rates and macro outlook may keep investors at bay, it noted.
Morgan continues to prefer landlords over developers.
It said that the increase of public-private housing ratio and allocating 70% of upcoming
land supply for public housing could means potential reduction private housing supply if
government cannot increase the overall land supply. This could be positive for the private
housing market in short to medium term. (KL)