The real estate development sector became popular, real estate stocks rose collectively, and the confidence of the capital market in the real estate market gradually returned.
On February 18, the data showed that as of the closing, Taihe rose by 10%, and 15 real estate enterprises such as CCCC, Binjiang and Jinke all rose by more than 5%.
In the H-share market, internal housing stocks also rose again. As of 16:00, Greentown China rose 6.86%, China Resources Land rose 5.15%, rongchuang China rose 4.73%, and Xuhui, Zhongjun, Longguang, Shimao, Jinmao and times China all rose more than 3%.
In terms of news, many cities across the country have frequently introduced policies to encourage house purchase, such as “house purchase subsidy” and adjusting the provident fund. Recently, it is also reported that some banks in Heze, Shandong have adjusted different down payment ratios according to the situation of house buyers, among which the down payment ratio of “no house, no loan” house buyers has been reduced to 20%.
In addition to Heze, some cities across the country have quietly reduced the interest rate and down payment ratio of the first house loan. For example, many banks in Chongqing, Ganzhou, Jiangxi and other places have reduced the down payment ratio of the first house loan to 20%. However, the above-mentioned cities are “non restricted” cities, which shall be jointly decided and adjusted by the local housing and financial functional departments according to the principle of implementing policies according to the city.
Zhang Dawei, chief analyst of Zhongyuan Real estate, said that with the recent reduction of down payment and the overall relaxation of housing mortgage, it is predicted that there will be a round of small spring from March to April.
Citic Securities Company Limited(600030) believes that the mortgage loan amount and interest rate are key variables, and the demand side support policy at the local level is expected to continue to be introduced. After March, the real estate boom is expected to bottom out and pick up, while the structural evolution trend will continue.
Orient Securities Company Limited(600958) believes that under the combination of fundamentals and policies, the short-term focus is on the valuation repair of real estate enterprises that are optimistic about financial security. Such as leading real estate enterprises with stable or flexible performance.
It is worth noting that in the Beijing land auction that has just ended, the obvious warming signal of the land market was released, and investors also saw the financial strength of some real estate enterprises, such as green city China and China Resources Land, which led the rise of domestic housing stocks.
After that, cities across the country will carry out the first batch of centralized land supply in succession to supplement the market supply.
Earlier, according to media reports, the national opinions on the supervision of pre-sale funds of commercial housing have been issued. The management measures make it clear that the supervision of pre-sale funds is “key quota supervision”, that is, when the funds in the account reach the supervision quota, the funds exceeding the quota can be withdrawn and used freely by real estate enterprises.
Analysts pointed out that the newly introduced capital supervision measures ensure the flexibility of the use of commercial housing pre-sale funds. On the premise of ensuring project delivery, improving the flexibility of commercial housing pre-sale funds is conducive to the capital pressure of link enterprises to a certain extent.
On the financing side, recently, a number of banks also announced plans to issue real estate M & a themed bonds. For example, Industrial Bank Co.Ltd(601166) plans to issue real estate M & a themed bonds of no less than 10 billion yuan, and the raised funds are specially used for Real Estate Project M & A loans.
On February 14, China Merchants Bank Co.Ltd(600036) also announced to provide Grandjoy Holdings Group Co.Ltd(000031) with 10 billion yuan of comprehensive financial services related to real estate M & A. not long ago, China Merchants Bank Co.Ltd(600036) has granted a 23 billion yuan M & A financing line to China Resources Land and China Resources Vientiane life.
All real estate enterprises are also trying to adjust to the development cycle, or deal with debt problems by disposing of assets, or adjust the organizational structure and personnel changes.
Since February, rongchuang has split the southwest region and newly established the northwest region. Subsequently, Xiangsheng holdings also issued a document to implement a new round of structural adjustment, splitting the original seven departments into nine departments, with the intention of decentralization. Henan Jianye also changed the five-level management into three-level management, merged the five headquarters, and collectively replaced the CEOs of the three listed platforms.
Liu Shui, the research director of the enterprise business department of China Index Research Institute, analyzed that there are two main types of organizational structure adjustment: one is to light the headquarters and adjust the region to create an efficient organization; the other is to take business optimization as the core to support the development of key businesses, which are measures for real estate enterprises to adapt to the changes of the current market environment, reduce costs and increase efficiency.
