摩根大通发表研究报告指，美国联储局减息0.25厘后，港银亦跟随将最优惠利率(P息)下调0.125厘，其中汇丰新造按揭实际利率由3.5%降至3.375%，虽然表面上低于3.6%的毛租金回报率，但计入管理费及其他成本后，新造按揭利率仍高于3.1%的净租金回报率。
该行预期，随着美联储未来进一步减息，而港银料跟随减息步伐，香港楼市将于2026年实现真正的正现金流回报，支持对明年楼价增长3%至5%的基本预测，惟关键是恒指表现保持强势。摩通指，《施政报告》措施缺乏惊喜，美国减息幅度亦符合预期，地产股或出现短期获利回吐。
摩通对港楼维持正面看法，建议趁低吸纳，发展商首选恒地(00012.HK) 及信置(00083.HK) ，收租股偏好太古地产(01972.HK) 及恒隆地产(00101.HK) ，其次为九龙仓置业(01997.HK) 及领展(00823.HK) 。(gc/da)(港股报价延迟最少十五分钟。沽空资料截至 2025-09-18 16:25。)
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