June 18, 2025 09:00 AM GMT China Property | Asia Pacific Monthly Tracker: May Data Worsened; We Expect Weak Trends to Continue in 3Q Property sales and home prices continued to drop at a faster pace, as expected, amid higher secondary inventory. Weakening resident sentiment, reactive policy and high base may put extra pressure on home prices in 3Q. We suggest quality SOEs with high visibility for alpha, with CR Land as Top Pick. Stock ideas: With leading indicators pointing to a fast-weakening physical mark ...

June 18, 2025 09:00 AM GMT China Property | Asia Pacific Monthly Tracker: May Data Worsened; We Expect Weak Trends to Continue in 3Q Property sales and home prices continued to drop at a faster pace, as expected, amid higher secondary inventory. Weakening resident sentiment, reactive policy and high base may put extra pressure on home prices in 3Q. We suggest quality SOEs with high visibility for alpha, with CR Land as Top Pick. Stock ideas: With leading indicators pointing to a fast-weakening physical mark ...

更多资料加入知识星球：水木调研纪要 关注公众号：水木Alpha June 3, 2025 02:03 PM GMT China Property | Asia Pacific M Update Weekly Database Tracker #22 Key Takeaways Cara.Zhu@morganstanley.com +852 2848-7117 China Property Asia Pacific Industry View In-Line Weekly primary unit sales in 50 cities were -17% YoY (vs. +5% YoY last week) for the week ended June 1: Tier 1 city sales were +4% YoY (vs. +29% YoY last week). Tier 2 city sales were -25% YoY (vs. +4% YoY last week). Tier 3 city sales were +2% YoY (vs. -10% YoY last week). Weekly ...

The latest housing market data (April) from NBS shows a continued moderation trend across all key indicators (sales, home prices and construction activities), although the magnitude is not drastic. We continue to expect further moderation in June, but if sales and prices deteriorate faster than expected, we believe the government will roll out stronger policy support (and thus a rally). Our top picks are CR Land and CR Mixc, but tactically we like turnaround stories (Longfor, Jinmao, COPH). See page 18 for ...