Market Review
Last week (2.7-2.13), the Shanghai Composite Index rose 3.02%, the Shanghai and Shenzhen 300 index rose 0.82%, and the real estate sector rose 4%. The real estate sector outperformed the Shanghai Composite Index by 0.98 percentage points and the Shanghai and Shenzhen 300 index by 3.18 percentage points.
Industry dynamics
On February 11, the central bank released China's monetary policy implementation report for the fourth quarter of 2021. The report points out that in the next stage, we should firmly adhere to the positioning that houses are used for living rather than speculation, not use real estate as a means to stimulate the economy in the short term, stabilize land prices, house prices and expectations, implement the prudent management system of real estate finance, strengthen financial support for Housing leasing, and safeguard the legitimate rights and interests of housing consumers, Better meet the reasonable housing needs of property buyers and promote the healthy development and virtuous cycle of the real estate market.
On February 11, Shenzhen Dapeng New Area revised and issued the "1 + 6" industrial policy and added support measures for investment attraction. Various policy adjustments include a series of measures to strengthen and benefit enterprises in major industrial projects, investment attraction, scientific and technological R & D, manufacturing, business services, biological industry and other fields.
Industry news
On February 8, the dividing line of individual housing property tax rate in Shanghai in 2022 was raised to 81948 yuan / m2. Article 5 of the Interim Measures of Shanghai Municipality for the pilot of levying property tax on some individual houses stipulates that the applicable tax rate is tentatively set at 0.6%. According to the data of Shanghai Municipal Bureau of statistics, in 2021, the average sales price of new houses was 40974 yuan / m2. If the market transaction price of taxable housing per square meter is lower than twice (including twice) the average sales price of new commercial housing in Shanghai last year, the tax rate will be temporarily reduced to 0.4%. The average sales price of newly-built commercial housing in Shanghai last year is published by the Shanghai Municipal Bureau of statistics every year.
On February 9, Guangzhou construction project bidding Management Office issued the guidelines on the comparison of information of social insurance payers in charge of housing construction projects (hereinafter referred to as the guidelines for the comparison of social insurance information), which can automatically compare the information of social insurance payers in charge of the project through the trading system, so as to investigate and crack down on the "hanging of certificates" in bidding activities, Further maintain the order of the construction market in Guangzhou and create a good bidding and business environment. Guangzhou housing and Urban Rural Development Bureau said that in the comparison of social security information of the project leader, the municipal construction project bidding office has consistently implemented the tenderee responsibility system.
Suggested concern
The meeting of the Political Bureau of the CPC Central Committee stressed the need to promote the construction of affordable housing, support the commercial housing market to better meet the reasonable housing needs of buyers, and promote the healthy development and virtuous cycle of the real estate industry.
Three types of real estate stocks in the later stage deserve attention: (1) leading real estate enterprises with low interest rate financing costs and relying on state-owned enterprises to continuously obtain land in first and second tier cities, such as Vanke and Poly Real Estate; (2) Real estate enterprises that are less affected by the land policy and have strong land application ability, such as Seazen Holdings Co.Ltd(601155) , Baolong real estate, etc; (3) Leading real estate enterprises that have arranged long-term rental apartments, such as 5I5J Holding Group Co.Ltd(000560) , Longhu group, etc.
Risk tips
Tip 1: real estate regulation policy tightened
Tip 2: prevent financial systemic risks
