According to a research report published in Lyon, the mainland's first-hand housing market is showing signs of stabilization. First-tier and second-hand property prices in first-tier cities have been rising sequentially for several months, while first-tier property prices in second-tier cities have stabilized after earlier declines. Among the 70 large and medium-sized cities in June, the number of cities where first-hand property prices rose month-on-month increased to 20, the highest since May 2025. The bank expects state-owned developers to continue to outperform the market, preferring China Resources Land, China Jinmao and Yuexiu Real Estate. The target prices are HK$42.4, HK$2.43, and HK$5.5 respectively, all of which are rated “outperforming the market”.

According to a research report published in Lyon, the mainland's first-hand housing market is showing signs of stabilization. First-tier and second-hand property prices in first-tier cities have been rising sequentially for several months, while first-tier property prices in second-tier cities have stabilized after earlier declines. Among the 70 large and medium-sized cities in June, the number of cities where first-hand property prices rose month-on-month increased to 20, the highest since May 2025. The bank expects state-owned developers to continue to outperform the market, preferring China Resources Land, China Jinmao and Yuexiu Real Estate. The target prices are HK$42.4, HK$2.43, and HK$5.5 respectively, all of which are rated “outperforming the market”.