Real estate stocks in Hong Kong fell in afternoon trading. As of press time, RADIANCE HLDGS (09993) dropped 8.97% to HK$2.84; R&F PROPERTIES (02777) declined 8.11% to HK$0.68; SUNAC (01918) fell 5.65% to HK$1.66; and SEAZEN (01030) decreased 3.32% to HK$2.62.

On the news front, according to data from the National Bureau of Statistics, from January to August, new commercial housing sales area totaled 573 million square meters, down 4.7% year-over-year, with the decline widening by 0.7 percentage points compared to the January-July period. Residential sales area fell 4.7%, with the decline expanding by 0.6 percentage points from January-July. On a monthly basis, August commercial housing and residential sales areas declined 10.6% and 9.7% year-over-year respectively, with declines widening by 2.7 percentage points and narrowing by 2.6 percentage points compared to July.

From January to August, national real estate development investment totaled approximately 6.03 trillion yuan, down 12.9% year-over-year.

Securities analysts point out that the real estate market faces significant downward pressure on both sales and investment fronts, requiring continued policy support to boost market demand. Beijing, Shanghai, and Shenzhen successively relaxed purchase restrictions and optimized provident fund loan policies between August and September. In the short term, these policies have had some effect in promoting new home and second-hand housing transactions, but sustainability remains to be observed. The focus should be on the September property policy window period, as the real estate sector presents trading opportunities.