Mainland property stocks in Hong Kong continued their upward trajectory. At the time of writing, R&F PROPERTIES (02777) rose 10.67% to HK$0.415. CH OVS G OCEANS (00081) gained 4.78% to HK$3.29. SINO-OCEAN GP (03377) increased by 4.29% to HK$0.073. COUNTRY GARDEN (02007) advanced 3.7% to HK$0.28.

The gains follow a series of supportive real estate policies recently announced across multiple cities. Shenzhen has eased purchase restrictions in specific districts like Futian, Nanshan, and Baoan's Xin'an sub-district, while raising the maximum public housing fund loan amount to 3.51 million yuan. Guangzhou increased its maximum public housing fund loan to 3.6 million yuan, introduced subsidies for homeowners selling old properties to buy new ones, and relaxed conditions for converting commercial loans to public fund loans. Tianjin announced plans to purchase existing commercial housing for use as affordable housing and will provide home purchase subsidies. Wuhan, effective May 1, will recognize first-home purchases based on district-level criteria, remove household registration restrictions for cross-city public housing fund loans, and offer subsidies of 1.5% for first homes and 1% for second homes in new urban districts.

An analysis from a securities firm suggests that the implementation of these property policies is expected to help sustain the recent market warmth, a trend corroborated by increased activity in key cities during the recent holiday period. The supply-demand dynamics in the secondary housing market are showing marginal improvements, providing support for price stabilization in major cities. Data indicates that listing volumes for pre-owned homes in 26 key cities have declined both year-on-year and month-on-month, while real-time transaction volumes, representing demand, continue to improve. Since April, the property market has shown signs of halting its decline. It is anticipated that as listing volumes decrease further, the trend towards price stabilization will become more entrenched.