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<Research>UBS: Too Early to Claim CN Property Mkt Recovery as Rents Yet to Rise
Recommend 9 Positive 17 Negative 6 |
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Secondary home transactions in China's tier-one cities have rebounded since last month, accompanied by a decline in listings for sale and stabilizing home prices, sparking investor discussion over whether the market has bottomed out, UBS wrote in its research report. To the broker, it is still too early to declare a market recovery, given that rental prices have yet to increase. Among Chinese property developers, UBS favors CHINA RES LAND (01109.HK) and SEAZEN (01030.HK), mainly due to their business model transformation and accelerated asset turnover, which enhance return on equity. UBS also prefers CHINA RES MIXC (01209.HK), citing that an increase in third-party managed projects over the next five years is expected to strengthen its competitive advantage over peers. Auto-translated by AI AASTOCKS Financial News |
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