Property Data Monitor: AI survey results; Mainland China: real-time secondary sales stay positive Y/Y; HK: pricing of new launches remains aggressive

研报英文原文证据摘录

J P M O R G A N

Asia Pacific Fundamental Research

11 August 2026

Property Data Monitor

AI survey results; Mainland China: real-time secondary

sales stay positive Y/Y; HK: pricing of new launches

remains aggressive

In case you missed it – AI survey results

As part of the J.P. Morgan Asia Pacific Artificial Intelligence Survey, we have

summarised our takeaways on how APAC real estate companies are adopting AI, their

expenditure, and realized outcomes, etc. Key findings include: 1) real estate is the

lowest AI spender among APAC corporates; 2) the biggest benefits are centered on

labor productivity; and 3) ROI and data integrity are the major adoption challenges.

For more details, please refer to our report Asia Pacific Artificial Intelligence

Implementation Survey 2026 - Property In Focus.

Mainland China/Hong Kong Property

& Conglomerates

Karl Chan AC

(852) 2800-8513

J.P. Morgan Securities (Asia Pacific) Limited/ J.P.

Morgan Broking (Hong Kong) Limited

Venus Choi

(852) 2800-8599

J.P. Morgan Securities (Asia Pacific) Limited/ J.P.

Morgan Broking (Hong Kong) Limited

Mainland China

APAC Credit Research

Real-time weekly secondary sales (实时二手成交)

(852) 2800-8533

J.P. Morgan Securities (Asia Pacific) Limited

Alvin Au AC

9-city: +8% Y/Y (prior: +5%); tier-1 only: +9% Y/Y (prior: +7%) (Table

1), led by Shenzhen (+21% Y/Y) and Guangzhou (+15%). Note: real-time

sales lead official sales registrations by a few weeks.

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Official weekly sales registrations (网签)

Soo Chong Lim

(852) 2800-7387

J.P. Morgan Securities (Asia Pacific) Limited

Shirley Yau

(852) 2800-0566

J.P. Morgan Securities (Asia Pacific) Limited

Primary (60-city): +2% Y/Y (prior: +4%) (more)

Secondary (12-city): +1% Y/Y (prior: +12%) (Figure 4)

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Leading indicators

Tier-1 cities’ visitation index (带看量): rose from 21 to 22 (Figure 6) . Note:

20-40 = recovery; <20 = stagnation

Manager confidence index: down from 52 to 51 (Figure 7Figure 6).

Shanghai: 49→44; Guangzhou: 47→51.

Tier-1 cities’ listing price index: Centaline - down from 15.5 to 15.3

(historical low); Iceberg Index - fell 0.1% W/W (prior: -0.1%) (Figure 8)

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