June-26 AlphaWise Survey: Better Sentiment, but Still Limited Home Purchase Plans

Research evidence excerpt

June-26 AlphaWise Survey: Better Sentiment, but Still Limited Home Purchase Plans

Foundation

July 14, 2026 05:49 PM GMT

Morgan Stanley Asia Limited+MChina Property | Asia Pacific Stephen Cheung, CFA

Equity Analyst

June-26 AlphaWise Survey: Stephen.Cheung@morganstanley.comCara Zhu +852 3963-0385

Cara.Zhu@morganstanley.com +852 2848-7117

Better Sentiment, but Still Mavis Ng

Data Analyst

Mavis.Ng@morganstanley.com +852 2239-7840

Limited Home Purchase Plans

Our AlphaWise survey of >2,000 residents points to some

recovery on resident sentiment toward housing prices outlook

and home disposal plans. However, the still-weak home China Property

purchase plans and softening secondary home sales could Asia Pacific

Industry View In-Line

continue to weigh on home prices in 3Q despite an easier base.

Our survey was conducted over June 30-July 3,M 2026, with 2,039 residents across tier 1- 4 cities.

Key Takeaways The margin of error for findings on total sample

Residents stayed prudent on home purchases albeit better home prices outlook. is ±1.7% at 90% confidence level; higher for

Homeowners turned less eager to sell, with a notable lower share of potential subgroups.

sellers willing to accept losses. Related reports :

China Consumer Pulse: AlphaWise Consumer

Less-bearish housing price outlook: In June survey, while a net 36% of respondents Pulse Survey Jun-26

expected home prices to fall over the next 12 months (vs. 47% in March and 42% in An Inflection or Another False Start? (18 May

October), more respondents expect prices to be flat (39% vs. 34% in March) or 2026)

increase (13% vs. 10% in March). In particular, sentiment in Tier 2 cities improved the Weakening Indicators may Lead to Faster Home

most, with notably fewer respondents expecting home prices decline (47% vs.