0817 GMT - The gap between first-time mortgage rate and rental yields in China's major cities could further narrow, UOB Kay Hian analysts Jieqi Liu and Damon Shen say in a research note. The narrowing gap could be a positive factor driving housing demand, the analysts say. But property transactions in the three weeks after the stimulus measures unveiled in late September didn't exceed levels seen after the introduction of destocking policies in May, they note. The October National Day holidays may be a significant factor affecting sales, they add. UOB thinks the property sector's sales recovery as well as implementation of the destocking policy will be the focus of the next three to six months. (sherry.qin@wsj.com)
(END) Dow Jones Newswires
October 25, 2024 04:17 ET (08:17 GMT)
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