Mainland property stocks in Hong Kong saw collective declines. As of press time, CH OVS G OCEANS (00081) fell 8.48% to HK$2.05, GREENTOWN CHINA (03900) dropped 5% to HK$8.36, SEAZEN (01030) declined 2.31% to HK$2.11, and SUNAC (01918) slipped 1.55% to HK$1.27.

A recent research report noted that total land acquisitions by China's top 100 developers from January to November reached RMB847.8 billion, up 14.1% year-on-year, though the growth rate slowed significantly compared with the January-October period. Earlier this year, land markets in prime urban areas showed relative strength, driving nationwide land sales growth. However, as leading developers achieved inventory replenishment targets and the new home market cooled further in the second half, year-end land acquisition enthusiasm weakened.

CLSA highlighted subdued developer investment appetite as a key constraint on the sector. Data shows that new construction starts in the first ten months of 2025 totaled only 491 million square meters, while commercial property investment fell 14.7% year-on-year. The brokerage emphasized that stabilizing sales is crucial to rebuilding industry confidence, projecting a narrower contraction in new construction starts for 2026 and full-year home sales declines to moderate below 4%.