Even contrarians convinced property rally will continue
In Hong Kong, you are where you live.
You can consider yourself lucky if you are sitting on property, or if you don't have any complaints about the size of your living space, or if you are not paying too much rent to your landlord or too hefty a mortgage to the bank.
But more so, you can consider yourself lucky if you are sitting on property stocks at the moment.
So far this year, three of our eight blue-chip property stocks - Wharf (Holdings), Henderson Land and New World Development - have doubled in price, while four others - Sun Hung Kai Properties, Swire Pacific, Sino Land and Hang Lung Properties - have nearly doubled.
The underperformer is Li Ka-shing's Cheung Kong (Holdings), whose shares are up 38 per cent. No wonder the tycoon keeps buying his flagship shares week after week, spending more than HK$1.9 billion so far this year.
