Ge Long Hui·2025-12-08 02:58Group 1 - The core viewpoint of the report is that Hong Kong property prices have rebounded by 6.4% since the low in March this year, driven by the US's continuous interest rate cuts and declining rates [1] - Rental yields have increased, indicating strong rental demand, while the selling pressure from developers and owners has significantly decreased, leading to an improved supply-demand relationship [1] - The report forecasts that Hong Kong property prices will rise by 5% by 2026 [1] Group 2 - In mainland China's first-tier cities, the transaction volume of second-hand residential properties has increased year-on-year, indicating a stabilization in housing demand [1] - The inventory levels in first-tier cities have returned to normal, and the land market is active, with land transfer fees rising year-on-year, primarily driven by the supply of quality land parcels [1] - Preferred stocks mentioned in the report include China Resources Land, Hysan Development, and Link REIT [1]