By WANG Yuhan
Weighed down by an indisposed housing market, stocks of property management companies have seen a widespread decline. Out of the 65 property management companies listed in Hong Kong, 60 have experienced a reduction in market capitalization, with only 7 remaining valued above HK$10 billion (9.4 billion yuan, US$1.3 billion).
Within this context, the performance of state-owned property management companies and their private counterparts differs. While both have witnessed a decrease in growth rates, state-owned companies maintain an average growth of 20 percent, while private companies have averaged only 6.7 percent.
According to DU Haomin, the chief analyst at Sinolink Securities, the fate of property management companies is intertwined with that of their affiliated real estate companies.
Given that state-owned developers have excelled in sales, land acquisition, and financing compared to their private counterparts, state-owned property management companies associated with them are better positioned for a secure future.
In addition to these challenges, property management companies face other obstacles. One such issue is the market's failure to accord them the recognition they deserve. They have long been regarded as an extension of the real estate industry, which has hindered their growth.
Property management services play an increasingly significant role in today's society and merit recognition as independent market players. Furthermore, as AI technology continues to revolutionize the industry, companies must remain up-to-date and leverage this technology as a key solution to their current challenges.
