The report provides a monthly update on the China property market, noting mixed results for May 2026. While Tier-1 city prices and rents show resilience, national sales and construction metrics continue to underperform.
Key Takeaways
- 1.May ASP decline pace in the primary market remained steady at -0.2% mom, while secondary market ASP decline widened to -0.3% mom.
- 2.Tier-1 cities show resilience, with primary and secondary ASPs recording positive month-on-month growth for the 4th and 3rd consecutive months respectively.
- 3.Construction activities remain weak, with new starts and completions declining 25% and 20% yoy respectively, falling below expectations.
Table of Contents
- Summary of key market indicators
- Prices
- Primary volume
- Secondary volume
- Construction
- Developers' land banking
- NBS and primary data snapshot
- Secondary market monthly mosaic
- Developers' profitability monitor
- Disclosure Appendix
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Authors
Yi WangShi XuKaiyan Jing
Securities
0119.HK
Themes
Tier-1 City Resilience
Regions
Asia PacificChina