Property stocks in Hong Kong saw another uptick. At the time of writing, R&F PROPERTIES (02777) rose 3.7% to HK$0.42; CHINA VANKE (02202) gained 3.42% to HK$3.33; CHINA RES LAND (01109) increased by 2.86% to HK$39.5; and LONGFOR GROUP (00960) was up 2.72% to HK$10.19.

Recent data indicates the structural recovery of the national real estate market has become more pronounced since May 2026. During the recent "May Day" holiday, the transaction volume for pre-owned homes in key national cities saw a year-on-year increase exceeding 20%, with some major cities reporting growth rates over 50%.

In April, Shanghai's cumulative online signings for pre-owned properties (including commercial) reached 28,742 units, an approximate 22.3% year-on-year increase, marking the highest April transaction volume in nearly a decade. Beijing's online signings for pre-owned homes stood at 17,893 units, a roughly 15% year-on-year rise, setting a new five-year high for April. Guangzhou's pre-owned property transactions grew by 4.8% year-on-year, while Shenzhen's saw an 11.3% month-on-month increase.

Following the April 29th Politburo meeting's call to "strive to stabilize the real estate market," multiple localities have intensively rolled out related policies, primarily utilizing provident fund measures, to stabilize the property sector.

Analysts suggest that high-quality developers, with their robust credit, resources in core cities, product strength, and operational capabilities, possess more pronounced advantages in financing, land acquisition, sales, and cash flow management. Their operational quality and profitability are expected to recover first. Market observers are optimistic about leading developers with quality asset reserves, supportive commercial operating cash flows, and diversified growth capabilities, viewing them as well-positioned to capture revaluation opportunities arising from the industry's structural optimization.