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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.
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