0843 GMT - China's property market is poised for a structural recovery, HSBC analysts say in a research note. "We think the worst of the China property sector is now behind us," they say. Mortgage rates for households and funding costs for developers are at record lows. HSBC's economists expect three cuts in China's policy rate this year, suggesting there is room to lower mortgage rates further. Meanwhile, quality developers have regained access to the primary dollar bond market for refinancing after almost two years, while Beijing has indicated support for debt-laden developers, the analysts say. Chinese developers are subject to re-evaluation given new land investments and recovering sales, they add. (sherry.qin@wsj.com)
(END) Dow Jones Newswires
April 23, 2025 04:43 ET (08:43 GMT)
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