AMTD China Property Weekly – 16 Dec 2017

Given 2016 high base, YoY(till Nov) growth of home sales slowed down to 7.9% by GFA and 12.7% by values. We believe the home sales growth will decline in December 2017 as well, due to recent mortgage curb. On the contrary, investment of residential buildings still recorded 9.7% YoY(till Nov) growth