0743 GMT - China's property transaction volumes are likely to rise next year for the first time since 2022, CGS International analyst Raymond Cheng says in a note. After visiting six residential projects in southern China's Greater Bay Area, Cheng thinks the Chinese property market has bottomed out in terms of transaction volume. The central government's resolute stance to rescue the property sector should lead to more policy support and faster implementation of that support, he adds. Among property stocks, CGS prefers state-owned property developers including China Resources Land and China Overseas Land & Investment, as well as quality developer Longfor Group. Investors can also consider China Vanke and Greentown among high-beta names, Cheng adds. (jiahui.huang@wsj.com; @ivy_jiahuihuang)
(END) Dow Jones Newswires
November 07, 2024 02:43 ET (07:43 GMT)
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