Chinese property stocks climbed in Hong Kong trading. Shimao Group and Country Garden rose 7%; Agile Group and Sino-Ocean Group rose 6%; Sunac China and China Jinmao rose 5%; Yuexiu Property rose 4%; China Vanke and Longfor Group rose 2%.
The gains came after Beijing introduced a series of major property market policy measures, including lowering the homebuying qualification requirement for non-Beijing residents to one year and raising the maximum housing provident fund loan amount to 3.4 million yuan.
Dongwu Securities said Beijing’s property market is currently showing signs of stabilizing demand, tightening supply, policy support, stronger demand from first-time buyers, and a rebound in transaction prices. The brokerage expects the new measures to further reduce home purchase costs, unlock additional demand, and improve market sentiment. The impact could be comparable to, or slightly stronger than, Shanghai’s “Seven Measures” housing policy introduced in February this year.
The brokerage noted that Beijing’s latest property measures were unveiled after the Politburo meeting called for “stronger counter-cyclical adjustments” and ahead of the traditional peak homebuying season of September and October, giving the policies significant signaling value.
Looking ahead, incremental property support measures could become a key policy tool for boosting macroeconomic growth in the second half of the year. The stabilization and recovery of housing markets in major cities are expected to accelerate, Dongwu Securities said.
