Most mainland China property stocks traded higher. At the time of writing, RADIANCE HLDGS (09993) was up 4.69% at HKD 1.34; SUNAC (01918) rose 4.72% to HKD 1.11; GREENTOWN CHINA (03900) increased 3.29% to HKD 9.42; COUNTRY GARDEN (02007) gained 1.69% to HKD 0.30; and China Vanke (02202) advanced 1.64% to HKD 3.10.

The positive movement follows the release of March data on April 16 by the National Bureau of Statistics regarding the sales prices of new commercial residential buildings in 70 large and medium-sized cities. The data indicated that in March, new home prices in first-tier cities increased month-on-month. Meanwhile, the rate of decline in second- and third-tier cities narrowed or remained unchanged compared to the previous month. The number of cities reporting month-on-month increases in both new and existing home sales prices also grew from February.

Guosen Securities expressed the view that by March 2026, marginal improvements in both the volume and price of property sales are anticipated. The brokerage noted that current valuations of property stocks already largely reflect potential price declines. It suggested that if the positive data trend continues, even a slight improvement in market sentiment could lead to a significant boost in the performance of property stocks. Consequently, the institution recommends increasing allocations to the sector, with a focus on developers that are actively acquiring land and have rational project layouts.