CITIC Securities 2026 Rental Housing Industry Investment Strategy: Huge Market Space, Persistent Structural Reevaluation.

A research report from CITIC Securities believes that the four major constraints that have hindered the development of China's institutional leasing industry in the medium to long term have changed, and there is still significant room for growth in the institutionalization rate of housing leasing. In the short term, the development of real estate investment institutionalization and real estate funds is gaining momentum, and long-term apartment rentals may serve as pioneer assets, driving the revaluation of some assets. Light asset platforms are also thriving, welcoming development opportunities. On the heavy asset side, it is recommended for investors to focus on regional factors; on the light asset platform side, it is recommended for investors to focus on synergy and scale factors.