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haitong int'l: Significant improvement in commodity housing sales in October, with a narrowing year-on-year decline in completion.
The current real estate sector's market cap as a percentage of economic value is not completely equivalent, indicating potential for value reassessment.
Daily real estate industry updates summary (2024-11-21)
Christopher Hui, the Secretary for Financial Services and the Treasury of Hong Kong, proposed the second reading of the Stamp Duty (Amendment) Bill 2024 at the Legislative Council meeting. He suggested exempting stamp duty on the purchase and sale of real estate investment trusts to enhance the competitiveness of Hong Kong's property trust funds and support further market development.
The "white list" credit issuance for Sichuan real estate is nearly 200 billion yuan, with loans exceeding 160 billion yuan.
The Sichuan Financial Regulatory Bureau revealed during a press conference that as of November 17, 322 real estate projects have been added to the 'white list', with a total credit approval of nearly 200 billion yuan and loans exceeding 160 billion yuan through the 'white list', with over 50% being private enterprises, benefiting more than 600,000 households of homebuyers. (ta/k)~
The unchanged LPR in November meets market expectations. Industry insiders do not rule out the possibility of further interest rate cuts next year along with the reverse repurchase rate.
① By the end of the year, the economic running is expected to continue its upward trend, with policy interest rates likely to remain stable and LPR quote also expected to stay unchanged. ② There is a high possibility of further reductions in deposit rates in the future, coupled with the issuance of special treasury bonds to support large state-owned commercial banks in replenishing their core tier one capital, which is expected to gradually alleviate the interest spread and operational pressure for commercial banks. It is possible that next year the LPR quote may be accompanied by further interest rate cuts on reverse repurchase agreements.
The first allocation-based indemnificatory apartment project in Wenzhou has entered the construction stage, providing 872 units.
The plot of the indemnificatory apartment project in the central area of Ouhai, under the jurisdiction of Mingcheng Company of Wenzhou Urban Development Group, has successfully completed the preliminary work of project site selection opinions, planning conditions, red lines, and has successfully passed the record filing and project approval by the Ouhai District Development and Reform Commission, marking the formal entry into the construction phase of Wenzhou's first indemnificatory apartment project. The project is located in the central area of Ouhai, with a land area of 0.0322 million square meters and a total construction area of 0.1172 million square meters, planning to build a total of 872 sets of indemnificatory housing for sale.
According to the Finger Research Institute, in October, the average price of second-hand residences in 100 cities dropped by 7.27% compared to the same period last year.
According to data monitoring by the China Index Academy, in October 2024, the average price of second-hand residences in 100 cities was 14,360 yuan per square meter, a month-on-month decrease of 0.60%, narrowing the decline by 0.10 percentage points compared to September; a year-on-year decrease of 7.27%.
Express News | The one-year and five-year LPR remain unchanged.
Bullish Longfor Group Holdings Insiders Loaded Up On CN¥2.10b Of Stock
Express News | Shenzhen has cancelled the standards for ordinary housing and non-ordinary housing.
Daily real estate industry dynamics summary (2024-11-19)
The Beijing Municipal Housing and Urban-Rural Development Commission, the Municipal Finance Bureau, and the Beijing Municipal Taxation Bureau jointly issued the "Notice on Cancelling the Standards for Ordinary Housing" (hereinafter referred to as the "Notice").
Major rating | Jianyin International: The data of domestic housing significantly improved, with china overseas, longfor group, and greentown china as top recommendations.
Jian Silver International released a report pointing out that according to the National Bureau of Statistics report, the Chinese real estate market showed significant improvement in October, narrowing down from a 16.3% year-on-year decline in September to 1% in October, thanks to the strong policy support implemented in September and October. Looking at the monthly trend, the sales during the 'Silver October' period decreased by 12.9% compared to the 'Golden September' period. As of October, real estate sales declined by 20.9%, with sales area decreasing by 15.8% and average price dropping by 6.1%. The significant improvement in national sales in October is consistent with the industry data released by zhongzi institute. Analyzing by city tiers, the sales recovery situation in first, second, and third-tier cities.
Hong Kong stock concept tracking | Guangzhou will acquire existing commodities under 90 square meters city-wide as indemnificatory apartments. The collection of existing commodities is accelerating (with related concept stocks attached).
Guangzhou Anju Group announced on November 18 that it will acquire existing commodities of 90 square meters or less throughout the city as indemnificatory apartments. Developers interested in participating can register from November 18 to December 18.
Guangzhou: will purchase existing commodities of 90 square meters or less throughout the city as indemnificatory apartments.
According to a report by Southern Network, Guangzhou Anju Group announced yesterday the "Collecting Notice for the Purchase of Completed Existing Commodity Housing for Use as Affordable Housing by Guangzhou Anju Group Co., Ltd.", intending to collect existing completed commodity housing for affordable housing projects. The collection period is from the date of the announcement until December 18 of this year. According to the notice, the scope of this collection is existing commodity housing sources that have been completed within the administrative area of Guangzhou City, with convenient transportation and relatively complete supporting facilities surrounding the housing sources. The collection criteria require: clear assets and liabilities and legal relationships; obtaining a completion joint acceptance opinion letter; an area of 90 square meters.
"Dah Sing" Jian Silver International: Significant improvement in residential data, first recommending China Overseas (00688.HK), Longfor Properties (00960.HK), and Greentown (03900.HK).
Jianyin International released a report indicating that, according to the National Bureau of Statistics, the real estate market in China showed significant improvement in October, narrowing from a year-on-year decline of 16.3% in September to 1% in October, thanks to the strong policy support introduced in September and October.
Last week, the second-hand housing transactions in Shenzhen recorded a week-on-week drop of 12.5%.
According to statistics from the Shenzhen Real Estate Intermediary Association, in the 46th week of 2024 (November 11th to 17th), Shenzhen recorded 1,959 second-hand houses, a 12.5% decrease compared to the previous week. With the concentrated release of accumulated demand in the early stage of the market and the large consumption of market stocks, there has been some short-term fluctuation adjustment in the market. However, based on the lead institutions' data on property viewings and signings, the overall second-hand housing market remains relatively stable at the moment.
Open Source Securities: Multiple departments issue announcements to increase tax incentives, promoting the release of improved housing demand.
The overall coverage of the deed tax policy is quite broad, and after implementation, it will further reduce the tax cost of residents purchasing homes, promoting the release of demand for improving housing; at the same time, for first-tier cities, the incentives for deed tax are even greater, with a maximum reduction of 2 percentage points.
Zhu Hexin: Share buyback, increasing shareholding, and measures such as refinancing enhance market confidence, and the stock market is stable and improving.
People's Bank of China Vice President and Director of the State Administration of Foreign Exchange Zhu Hexin stated at the International Financial Leaders Investment Summit that since the end of September, the People's Bank of China has reduced the reserve requirement ratio by 0.5 percentage points, releasing approximately 1 trillion yuan of long-term liquidity funds to the market; the 7-day reverse repurchase operation rate has been lowered by 0.2 percentage points, the Medium-term Lending Facility (MLF) rate has decreased by 0.3 percentage points, the Loan Prime Rate (LPR) has been reduced by 0.25 percentage points. These policies of reserve requirement reduction and interest rate cuts further reduce the financing costs for enterprises and residents, promoting investment and consumption. He mentioned that on average, each real estate policy-related measure
Market Update | Most mainland real estate stocks rose, radiance hldgs surged by 27%, first-tier cities announced the cancellation of the non-standard residential classification.
Mainland real estate stocks mostly rose, as of the time of publication, Radiance Holdings rose 27%, R&F Properties rose 5.29%, Sunac rose 2.97%, and Greentown China rose 2.25%.
Brokerage Morning Meeting Highlights: The historical bottom of real estate stock valuation may have been established.
At today's brokerage morning meeting, China Securities Co.,Ltd. proposed supply-side optimization, suggesting to focus on industries such as steel, photovoltaic, cement, coal, and rare earths; htsc stated that domestic sales of household appliances are improving with stable exports, focusing on two major themes for the year 2025; China International Capital Corporation believes that the historical bottom of real estate stock valuation may have been established.
Express News | Peking: The standards for ordinary and non-ordinary housing in the city have been abolished.
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