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Deutsche Bank, in its latest report, stated that no new tightening measures for mid- and small-size residential units have been covered in the Budget. The government is planning to sell 29 pieces of residential sites in FY15/16, 16 of which will be new sites. It is predicted that a total of 19,000 new residential units could be produced, which would be less than the 20,000 units produced from the residential sites sold in FY14/15. These signify that the land supply is not rising at a faster pace to restore the current imbalance in the local property market.

The research house prefers developers over landlords given their residential exposure with higher asset turnover and more stable IP portfolios. Top picks are NEW WORLD DEV (00017.HK)  +0.040 (+0.434%)    Short selling $4.46M; Ratio 5.233%   , CHEUNG KONG (00001.HK)  +0.700 (+0.463%)    Short selling $58.31M; Ratio 12.850%   , SHK PPT (00016.HK)  -0.100 (-0.081%)    Short selling $90.74M; Ratio 20.539%   and SINO LAND (00083.HK)  -0.040 (-0.313%)    Short selling $4.98M; Ratio 8.894%   . The brokers also like HENDERSON LAND (00012.HK)  +0.200 (+0.369%)    Short selling $29.14M; Ratio 28.312%   for its high defensiveness. GREAT EAGLE H (00041.HK)  -0.050 (-0.188%)    Short selling $1.86M; Ratio 13.404%   and HYSAN DEV (00014.HK)  -0.300 (-0.796%)    Short selling $21.53M; Ratio 33.087%   were maintained at Sell. 

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