China Real Estate 10 facts refuelling the sector

Research evidence excerpt

China Real Estate 10 facts refuelling the sector

11 June 2026

China Real Estate EquitiesREMD

10 facts refuelling the sector China

◆ Fundamental recovery signals should rebuild optimism Michelle Kwok*

heading into mid-year pre-sale peak season Head of Asia Real Estate and HK Equity Research

The Hongkong and Shanghai Banking Corporation Limited

◆ Anecdotal evidence suggests the recovery is broadening out michellekwok@hsbc.com.hk+852 2996 6918

beyond the four tier-1 cities to other city tiers Oliver Yu*

Analyst, Asia Real Estate

◆ We prefer CR Land and C&D, both rated Buy The Hongkong and Shanghai Banking Corporation Limited

oliver.y.o.x.yu@hsbc.com.hk

+852 2288 2050

We highlight 10 facts that help capture the market’s attention as fundamentals continue

Stephen Wang*, CFA

to improve, further enhancing our confidence in the breadth of the sector recovery. Analyst, Asia Real Estate

More catalysts should materialise as we head into June peak pre-sale season. The Hongkong and Shanghai Banking Corporation Limited

stephen.wang@hsbc.com.hk

1. Ongoing policy support: The State Council’s new urban renewal plan highlights +852 2284 1675

clear policy targets with potential strong central support; housing provident fund Brian Yu*

Associate, Asia Real Estate

policy fine-tunings across cities should help support mass market demand. The Hongkong and Shanghai Banking Corporation Limited

brian.d.yu@hsbc.com.hk

2. Tier-2/3 primary home sales gaining traction: 25 out of a total of 46 key tier-2/3 +852 28227281

cities recorded y-o-y growth in new home GFA sold in May, with 22 cities recording Charlotte Ye*

y-o-y growth of more than 10% (source: CRIC). Associate

Guangzhou

3. Broad-based secondary market recovery: Secondary GFA sold in May rose