China Property Weekly Digest: Another week of solid sales recovery
The decline in MTD average weekly GFA sold in 27 cities we track further narrowed to 29.1% y-o-y (from 42.6% last week), led by another week of encouraging recovery that rose 49.9% w-o-w
First and second home mortgage rates in 103 sampled cities improved to 4.42% and 5.09%, respectively, in June. 58 of these cities have reached the benchmark first-time mortgage rate of 4.25%, as per the Beike database
Average short-selling interest edged up 3ppt to 15% last week; average southbound interest rose 7bps to 7.94%
Sector top picks: COLI (688 HK), COGO (81 HK), Longfor (960 HK), Yuexiu Property (123 HK), and CR Land (1109 HK)
