Mainland property stocks in Hong Kong experienced widespread declines. At the time of writing, R&F PROPERTIES (02777) fell by 9.09% to HK$0.50, while RADIANCE HLDGS (09993) dropped 7.88% to HK$1.52. SUNAC (01918) also decreased by 6.4%, trading at HK$1.17.

According to CRIC Research, new home transactions in 50 major Chinese cities remained subdued in February 2026 due to the Spring Festival holiday. However, secondary housing transactions in 15 key cities saw a slight increase of 2% year-on-year for the January-February period, reaching approximately 15.09 million square meters. Favorable policies from both central and local governments continued to be introduced in February, with Shanghai's "Seven New Measures" announced at the end of the month signaling a positive policy trend, which is expected to boost market sentiment nationwide.

Guojin Securities noted that the property market is currently in a critical phase of stabilizing after a period of decline. Following the holiday, the number of secondary housing listings in core cities has generally rebounded. The extent and sustainability of this increase over the next two months are expected to be key factors influencing future price trends.