房地产数据监测：中国大陆：领先指标仍不令人振奋；香港：首批Deep Water Pavilia售罄

Asia Pacific Equity Research17 June 2025Property Data MonitorMainland China: leading indicators still unexciting; HK: 1st batch of Deep Water Pavilia sold outChina PropertyKarl Chan AC(852) 2800-8513karl.chan@jpmorgan.comJocelyn Gao(852) 2800-8529jocelyn.gao@jpmorgan.comVenus Choi(852) 2800-8599venus.choi@jpmorgan.comJ.P. Morgan Securities (Asia Pacific) Limited/ J.P. Morgan Broking (Hong Kong) LimitedSee page 17 for analyst certification and important disclosures, including non-US analyst disclosures.J.P. Morgan does and seeks to do business with companies covered in its research reports. As a result, investors should be aware that the firm may have a conflict of interest that could affect the objectivity of this report. Investors should consider this report as only a single factor in making their investment decision.Mainland ChinaLeading indicator #1)Centaline tier-1 cities’ secondary asking price index (Fig.1) mildly improvedfrom 20.6to 21.4(mostly driven byShenzhen), but still hov