One week market review
This week, the Shenwan real estate index fell 3.22%, the CSI 300 index fell 1.67%, and the relative income was - 1.54%. The performance of the sector was weaker than the market.
Industry fundamentals
This week (02.18-02.24), a total of 49004 first-hand houses were sold in 58 key cities tracked by West China real estate group, with a year-on-year growth rate of - 11.6% and a month on month growth rate of 0.1%; The total transaction area was 5.077 million square meters, with a year-on-year growth rate of - 9.6% and a month on month growth rate of - 1%.
This week (02.18-02.24), a total of 12524 second-hand houses were sold in 16 key cities tracked by West China real estate group, with a year-on-year growth rate of 3.9% and a month on month growth rate of 16.8%; The total transaction area was 1172000 square meters, with a year-on-year growth rate of 3.6% and a month on month growth rate of 17.7%.
This week (02.18-02.24), the inventory area of commercial housing in 17 key cities tracked by West China real estate group was 197104 million square meters, with a month on month growth rate of - 0.1%, and the decontamination cycle was 83.7 weeks.
This week (February 14-february 20), 17.01 million square meters of land was supplied, with a year-on-year growth rate of 35%; The average supply price was 1716 yuan / m2, with a year-on-year growth rate of 42.4%; The land sold was 11.571 million square meters, with a year-on-year growth rate of - 7.2%; The land transaction amount was 56.41 billion yuan, with a year-on-year growth rate of 51.4%.
This week (02.18-02.24), real estate enterprises issued a total of 13.49 billion yuan of credit bonds, with a year-on-year growth rate of 68.2% and a month on month growth rate of 16%. Real estate collective trusts issued a total of 4.44 billion yuan, with a year-on-year growth rate of - 61.9%, a month on month growth rate of 95.7% and an average income of 7.49%.
Investment advice
This week, on February 21, the central bank announced the quoted interest rate (LPR) of the loan market, which was the same as that of the previous month. The one-year LPR was 3.7% and the five-year LPR was 4.6%. On February 24, Wang Menghui, Minister of housing and urban rural development, said that this year, he would do a good job in five aspects: maintaining the stable operation of the real estate market, promoting the structural reform of the housing supply side, promoting the transformation of old urban communities, promoting major projects such as the aging and upgrading of urban pipelines such as gas, and vigorously promoting "new urban construction". Under the orientation of "housing without speculation", the real estate market will be kept stable in 2022 from four aspects: first, maintain the continuity and stability of regulation policies; Second, enhance the coordination and accuracy of regulatory policies; Third, resolutely and effectively deal with the risk of overdue delivery of real estate projects caused by debt default of individual real estate enterprises; Fourth, continue to rectify and standardize the order of the real estate market. At the local level, since February 21, the four major banks in Guangzhou have simultaneously reduced the housing loan interest rate in Guangzhou. Among them, the interest rate of the first house was reduced from LPR + 100bp (5.6%) to LPR + 80bp (5.4%), and the interest rate of the second house was reduced from LPR + 120bp (5.8%) to LPR + 100bp (5.6%). At present, the valuation of the real estate sector is at a low level, with strong performance certainty and high dividends. We highlight the leading real-estate companies with strong performance certainty, and we focus our focus on recommending the leading real estate companies with strong performance certainty. We highlight the leading real-estate companies that are the leading real-estate companies 000000000000000 China Vanke Co.Ltd(000002) \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\and Nacity Property Service Group Co.Ltd(603506) . Relevant beneficiary objects include Longhu group, China Jinmao, poly property, green city services, etc.
Risk tips
Sales were lower than expected, and the real estate regulation policy was tightened.
