Market Insight | Real estate stocks rebound across the board, with the approval amount of the first batch of white-listed projects exceeding 500 billion. Morgan Stanley expects property prices to stabilize in the third quarter

Real estate stocks rebound across the board. As of the time of publication, China Aoyuan Group rose by 11.31% to HKD 0.187; Sunac China Holdings rose by 6.47% to HKD 0.247; Sunac China Holdings rose by 6.25% to HKD 1.02; and China Oceanwide Holdings rose by 5.77% to HKD 0.275. In terms of news, as of the end of March, commercial banks have completed the review of all the first batch of "white list" projects pushed by the urban real estate financing coordination mechanism. Among them, the number of approved projects exceeded 2,100, with a total amount exceeding 520 billion yuan. Feedback has been provided to the coordination mechanism for some projects that do not meet the criteria. Morgan Stanley released a report stating that a survey of over 2,000 residents in first to fourth-tier cities conducted by the bank at the end of March showed that the intention of mainland residents to purchase property is weak, but the degree of pessimism towards property prices has slightly decreased. The bank believes that this will weaken the transmission effect of real estate easing measures and drag down the recovery of home sales, maintaining the view that property prices will basically stabilize by the end of the third quarter