Understanding the Market | Domestic Property Stocks Fall Collectively, Real Estate Data Stabilizes but Still Needs Efforts, Institutions Say Policy Expectations Remain in a Period of Intensification

Zhitong
2025.09.23 02:45
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Chinese property stocks collectively fell. As of the time of publication, SEAZEN dropped 5.64% to HKD 2.51; Sunac China fell 4.76% to HKD 1.6; RONSHINECHINA decreased 4.15% to HKD 0.23; R&F PROPERTIES declined 2.94% to HKD 0.66. On the news front, according to data from the National Bureau of Statistics, from January to August 2025, national real estate development investment decreased by 12.9% year-on-year, with the decline widening by 0.9 percentage points; the area of new construction dropped by 19.5% year-on-year, with the decline widening by 0.1%; the area completed fell by 17.0% year-on-year, with the decline widening by 0.5 percentage points; the sales area decreased by 4.7% year-on-year, with the decline widening by 0.7 percentage points; and the sales amount dropped by 7.3% year-on-year, with the decline widening by 0.8 percentage points. National housing prices continued to decline month-on-month. Guojin Securities released a research report stating that recently, first-tier cities such as Beijing, Shanghai, and Shenzhen have implemented optimized purchase restriction policies, and the demand peak season is expected to drive a recovery in fundamentals. In addition, the August real estate data indicates that more policies are still needed to stabilize the real estate market and stop the decline, with policy expectations continuing to be in a phase of intensification. The current valuation of the real estate sector is relatively low, and it is recommended to accumulate real estate stocks on dips

According to the Zhitong Finance APP, domestic property stocks have collectively retreated. As of the time of publication, SEAZEN (01030) fell by 5.64% to HKD 2.51; Sunac China (01918) fell by 4.76% to HKD 1.6; RONSHINECHINA (03301) fell by 4.15% to HKD 0.23; R&F PROPERTIES (02777) fell by 2.94% to HKD 0.66.

On the news front, according to data from the National Bureau of Statistics, from January to August 2025, national real estate development investment fell by 12.9% year-on-year, with the decline widening by 0.9 percentage points; the area of new construction fell by 19.5% year-on-year, with the decline widening by 0.1%; the area of completed projects fell by 17.0% year-on-year, with the decline widening by 0.5 percentage points; the sales area fell by 4.7% year-on-year, with the decline widening by 0.7 percentage points; and the sales amount fell by 7.3% year-on-year, with the decline widening by 0.8 percentage points. National housing prices continue to show a downward trend month-on-month.

Guojin Securities released a research report stating that recently, first-tier cities such as Beijing, Shanghai, and Shenzhen have implemented optimized purchase restriction policies, coupled with the peak demand season, which is expected to help restore the fundamentals. In addition, the August real estate data indicates that more policies are still needed to stabilize the real estate market. The policy expectations remain in a period of intensification. Currently, the valuation of the real estate sector is relatively low, and it is recommended to accumulate real estate stocks on dips

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