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Chinese Property Stocks Could Bounce

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construction_2 May 28, 2010 (Chinavestor) Chinese property stocks could rebound in the third quarter as Beijing's efforts to cool rapidly rising real estate prices take hold. Property stocks are the worst performers among Chinese equities in 2010. Poly Real Estate (SHA:600048), the largest listed developer in Shanghai, lost -30% YTD similar to China Vanke (SHE:200002), the largest publicly traded real estate developer. 

Lion Fund Management Co.’s Xia Junjie told Bloomberg News that property stocks are not likely to see much relief before late in the third quarter or the fourth quarter and will underperform the broader market this year.

In an effort to prevent a speculative property bubble from forming, the People's Bank of China has raised reserve requirements for banks three times this year and raised down payment requirements for first-time home buyers and real estate investors.

For additional information, read: Facts About Property Price Increases in China.

Residential real estate values soared 12.8% in China in April.

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