“After three years of being bearish, we’re turning more positive on the China property sector for the first time due to government aid,” Lam, the head of China and Hong Kong property research at UBS Group AG, said in an interview in Hong Kong.
When it comes to Chinese real estate, John Lam is a lone wolf.
The UBS analyst shocked markets three years ago with a rare sell rating on China Evergrande Group, 11 months before it defaulted and became the poster child for the property collapse. Now Lam is going against the grain again, forecasting a gradual recovery in a moribund market that most analysts say hasn’t hit bottom.
