China’s new home sales down 30% – 40% on year so far Sept – research
DATA VIEWS & ANALYSIS
China’s new home sales down 30% – 40% on year so far Sept – research
DATA VIEWS & ANALYSIS

China’s new home sales down 30% – 40% on year so far Sept – research

 

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Due to the recent regional COVID-19 resurgence, China’s new home sales remained under pressure, with month-to-date sales in September down 30% – 40% year over year, said CICC.

CICC expects that supportive housing policies from the Chinese government will further lift market forecasts and facilitate the recovery of fundamentals.

During such process, developers with a solid financial position, high-quality land reserves and proactive land acquisitions will likely benefit more, it said.

China Resources Land (01109.HK) , China Overseas Land & Investment (00688.HK) , Greentown China (03900.HK), Yuexiu Property (00123.HK), Midea Real Estate (03990.HK) , China Overseas Grand Oceans (00081.HK), and C&D International Group (01908.HK) were favored among H-share Chinese homebuilders.