Hong Kong Property Stocks Battered by Protests Look Cheap
- Gauge of real estate shares has lost more than 20% since April
- Financial hub has been beset by unrest for about six months
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Months of protests and a struggling local economy have hammered Hong Kong’s property stocks. Analysts are starting to see a silver lining in valuations.
A measure of developer shares in the world’s most expensive real estate market has tumbled more than 20% from a high in April. That slide has them trading at 11 times estimated earnings for the next 12 months, which is near a record low hit in October.