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[Brokerage Focus] BOCOM INTL: A slight spring brings warmth to the market, anticipating ongoing recovery in the property market.
Golden Financial News | BOCOM INTL released the Real Estate Industry monthly report. According to preliminary data from CRIC, the total sales of the top 100 developers will increase by 73.9% month-on-month to 344.5 billion yuan before March 2025. Sales of 23 major listed developers increased by 67.6% month-on-month in March. Most developers experienced a narrowing in the year-on-year decline. The bank indicated that the price index in various cities has seen a narrowing in the year-on-year decline. The National Bureau of Statistics reported that the Index of newly built Commodity Residential prices in 70 large and medium-sized cities fell by 5.2% year-on-year and 0.1% month-on-month in February (January 2025: -5.4%/0.1%), and second-hand Commodity Residential properties.
[Brokerage Focus] China Securities Co., Ltd. is bullish on the overall performance of the Real Estate sector, and subsequent policies are expected to continue to strengthen.
Jinwu Finance | China Securities Co.,Ltd. stated that in March, the transaction volume of new homes in key cities increased by 3.5% year-on-year, while the transaction volume of second-hand homes grew by 37% year-on-year, with the share of second-hand home transactions continuing to rise. The performance of core cities was remarkably good. In Beijing, Shanghai, Guangzhou, Shenzhen, and Hangzhou, the year-on-year growth rate of second-hand home transactions exceeded 30%. The sales amount of the top 100 real estate companies in March saw an increased decline, mainly due to the substitution of second-hand homes and a decrease in newly launched projects, but the initial sales rate of projects in core cities showed a significant improvement. The land market remains hot, with "land kings" frequently appearing at unit prices in core cities, pushing up the premium rates in land auctions. In March, the national premium rate for residential land transactions was 17.15%, an increase of 4.4 percentage points month-on-mon
Brokerage morning meeting highlights: Listed companies significantly Increase Stake & Buy Back, demonstrating determination and strength.
In today's brokerage morning meeting, Founder Securities believes that listed companies are significantly increasing their Increase Stake & Buy Back measures to demonstrate resolve and strength; China International Capital Corporation suggested that the Federal Reserve is not expected to cut interest rates in the short term, with a potential restart of rate cuts possibly in the third quarter; HTSC believes that the Real Estate property management Sector has both improvement potential and dividend value.
Market update | SUNAC rises over 5%, Mainland Real Estate stocks soar in the afternoon, with Institutions stating that both supply and demand might receive further policy support.
On the news front, on April 8, the General Office of the Ministry of Finance and the General Office of the Ministry of Housing and Urban-Rural Development issued a notice to carry out the 2025 central financial support for urban renewal actions, with the central government providing fixed subsidies to selected cities.
Hong Kong Stock Concept Tracking | In March, the land auctions in core cities continued to heat up. Institutions believe that the signal for the new Real Estate cycle has already appeared (with concept stocks attached).
The Real Estate Industry is at the end of a downward cycle, and the signals for the new cycle have already appeared.
"Real Estate" Hainan: Increase the maximum loan limit for the housing provident fund.
Hainan Province has released the latest announcement, adjusting and optimizing the individual housing loan policy for the housing provident fund. The announcement indicates that the maximum loan standard amount for an individual paying the housing provident fund for purchasing newly built self-occupied housing has been raised from 0.7 million yuan (same below) to 0.8 million yuan, while the maximum loan standard amount for couples paying jointly has increased from 1 million yuan to 1.1 million yuan. At the same time, for purchasing second-hand self-occupied housing, the maximum loan standard amount for an individual paying the housing provident fund has been adjusted from 0.4 million yuan to 0.6 million yuan, and the maximum loan standard amount for couples has been adjusted from 0.7 million yuan to 0.9 million yuan. In addition, families with two or more children.