Lyon: The housing prices in first-tier cities on the mainland are stabilizing, and the preferred options are China Resources Land, China Jinmao, and Yuexiu Real Estate.

A research report released by Lyon pointed out that there are signs of stabilization in the first-hand residential property market in mainland China. Prices of both first-hand and second-hand properties in first-tier cities have been increasing for several consecutive months, while prices of first-hand properties in second-tier cities have stabilized after a previous decline. In June, the number of cities with increasing first-hand property prices compared to the previous month reached 20 among the 70 major cities, the highest since May 2025. The bank expects state-owned developers to continue outperforming the market, with CR Land, China Jinmao, and Yuexiu Property being the top choices, with target prices of HK$42.4, HK$2.43, and HK$5.5 respectively, all rated "outperform the market".