Henderson Land sees stable HK property market

Predicts developers won’t make big profits.

Henderson Land Development Company expects property prices will consolidate in the next couple of years. It said buyers’ interest in its projects demonstrates that small to medium-sized units of superior quality are popular among Hong Kong buyerss.

Henderson Land sold some 1,800 residential units in the first half for HK$10.8 billion, the largest among Hong Kong developers,. Sun Hung Kai Properties Ltd, Hong Kong’s biggest builder, was second with about 1,100 unit sales with a total value of HK$12.2 billion.

Analysts said Henderson Land is in a better position compared to most developers. They also see property gradually picking-up in 2014 with smaller units continuing to sell better.

Hong Kong developers sold 4,316 new homes in the first half for HK$40 billion, both figures the lowest since the second half of 2008, said Centaline Property Agency Ltd.