--- title: "\"Big Banks\" Bank of America Securities: The recovery of the domestic property market needs to rely on its own momentum, prefers Runhua" type: "News" locale: "zh-HK" url: "https://longbridge.com/zh-HK/news/281458411.md" description: "Bank of America Securities holds a constructive view on the Chinese real estate industry, believing that the momentum for recovery has shifted to a self-sustaining recovery, and expects April's transaction volume to be higher than the last quarter of last year and the first two months of this year. With improvements in supply and demand dynamics, the likelihood of a significant decline in housing prices in 2026 is low. The firm prefers CHINA RES LAND, is optimistic about CHINA OVERSEAS and C&D INTL GROUP. It has lowered the target price for C&D INTL GROUP to 17.2 yuan, maintaining a \"Buy\" rating; the target price for CHINA OVS PPT has been reduced to 4.4 yuan, maintaining an \"Underperform\" rating; the target price for ONEWO has been lowered to 19 yuan, maintaining a \"Neutral\" rating; and the target price for POLY PPT SER has been reduced to 36 yuan, maintaining a \"Neutral\" rating" datetime: "2026-04-02T02:42:16.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/281458411.md) - [en](https://longbridge.com/en/news/281458411.md) - [zh-HK](https://longbridge.com/zh-HK/news/281458411.md) --- > 支持的語言: [简体中文](https://longbridge.com/zh-CN/news/281458411.md) | [English](https://longbridge.com/en/news/281458411.md) # "Big Banks" Bank of America Securities: The recovery of the domestic property market needs to rely on its own momentum, prefers Runhua Bank of America Securities published a research report maintaining a constructive view on China's real estate industry, but believes that the recovery momentum has shifted from policy stimulus to a slower, self-sustaining recovery, which may be uneven. However, it is expected that the transaction volume in April will be significantly higher than the levels at the end of last year and in the first two months of this year, indicating a longer recovery cycle rather than a rapid cooling like last year. In light of improving supply and demand dynamics, including a decrease in the number of second-hand homes listed, the possibility of a significant price correction in 2026 is low. It is expected that second-hand home prices in Shanghai, Shenzhen, and Beijing will stabilize in the second half of the year. Given the uneven recovery, investors may remain cautious in the short term. The firm prefers China Resources Land (01109.HK) due to its investment properties having long-term growth potential, and is optimistic about China Overseas Development (00688.HK) and C&D International (01908.HK), which are expected to benefit from upgrading demand, believing that their earnings visibility for the fiscal year 2027 is better. The firm lowered the target price for C&D International from HKD 18.6 to HKD 17.2, maintaining a "Buy" rating. The target price for China Overseas Property (02669.HK) was lowered from HKD 4.6 to HKD 4.4, maintaining an "Underperform" rating. The firm lowered the target price for ONEWO (02602.HK) from HKD 20 to HKD 19, maintaining a "Neutral" rating. The target price for POLY PPT SER (06049.HK) was lowered from HKD 37 to HKD 36, maintaining a "Neutral" rating ### 相關股票 - [ONEWO (02602.HK)](https://longbridge.com/zh-HK/quote/02602.HK.md) - [CHINA RES LAND (01109.HK)](https://longbridge.com/zh-HK/quote/01109.HK.md) - [CHINA OVS PPT (02669.HK)](https://longbridge.com/zh-HK/quote/02669.HK.md) - [POLY PPT SER (06049.HK)](https://longbridge.com/zh-HK/quote/06049.HK.md) - [Yinhua CSI Interior Real Estate Theme ETF (159768.CN)](https://longbridge.com/zh-HK/quote/159768.CN.md) - [CHINA OVERSEAS (00688.HK)](https://longbridge.com/zh-HK/quote/00688.HK.md) - [ChinaAMC CSI All Share Real Estate ETF (515060.CN)](https://longbridge.com/zh-HK/quote/515060.CN.md) - [Hwabao WP CSI 800 Real Estate ETF (159707.CN)](https://longbridge.com/zh-HK/quote/159707.CN.md) - [C&D INTL GROUP (01908.HK)](https://longbridge.com/zh-HK/quote/01908.HK.md) - [China Southern CSI All Share Real Estate ETF (512200.CN)](https://longbridge.com/zh-HK/quote/512200.CN.md) - [GF CSI All Share Financials ETF (159940.CN)](https://longbridge.com/zh-HK/quote/159940.CN.md) ## 相關資訊與研究 - [CICC Sticks to Its Buy Rating for C&D International Investment Group Ltd. (1908)](https://longbridge.com/zh-HK/news/280899096.md) - [Huatai Securities Keeps Their Buy Rating on C&D International Investment Group Ltd. (1908)](https://longbridge.com/zh-HK/news/280868130.md) - [Great China Holdings Posts Deeper 2025 Loss on Property and FX Hits](https://longbridge.com/zh-HK/news/281250022.md) - [Guangzhou R&F Properties Revamps Board and Committees Ahead of 2026 AGM](https://longbridge.com/zh-HK/news/281182304.md) - [Zhuguang Pledges Silver Grant Stake to Secure US$210 Million Senior Notes](https://longbridge.com/zh-HK/news/281300086.md)