The weekly turnover of first-hand houses in key cities decreased month on month, and the turnover of second-hand houses increased month on month. This week
The transaction area of first-hand houses in key cities reached 3.06 million square meters, down 47.3% year-on-year and 8.8% month on month; Among them, the first tier cities decreased by 17.9%, the second tier cities decreased by 13.6% and the third tier cities increased by 7.5% month on month. In terms of second-hand housing, the transaction area of second-hand housing in the 16 sample cities we selected this week reached 789000 square meters, a year-on-year decrease of 44.7% and a month on month increase of 10.2%.
The newly added land supply area of 100 cities increased year-on-year and month on month. This week, the new residential land supply area in Baicheng was 4.727 million square meters, up 48.1% year-on-year and down 33.9% month on month. There is no new residential land supply in the first tier cities; The new housing supply in second tier cities is 1.381 million square meters, and the average listing price is 3315 yuan / square meter; The new land supply in the third tier cities is 3.346 million square meters, and the average listing price is 2894 yuan / square meter.
Industry news: the CIRC: the real estate bubble has fundamentally reversed, but the rental housing is still needed. House price adjustment is a good thing for the financial industry, but we don’t want the real estate price adjustment to be too drastic. We should make a smooth transition. (China News Network)
Industry perspective:
This week, the CITIC Real Estate Index rose 1.6%, and the CSI 300 fell 3.6%. The sector outperformed the market. The reasons for the obvious excess return of the sector this week are as follows: 1. The emergence of the first second tier city to relax the loan restriction policy has important signal significance. Zhengzhou issued a document on March 1, saying that “recognizing loans but not housing” and implementing monetized resettlement have a significant boost on the demand side. 2. When it comes to real estate risk regulation, the regulator is more positive. Guo Shuqing, chairman of the China Banking Regulatory Commission, said in March 2nd that the trend of real estate bubble financing had been fundamentally reversed and that the real estate market adjustment was too keen. We reiterate our view that 2022q1 is the best configuration window for the real estate and property management sector. There will be an obvious situation that the company alpha is more important than the industry beta in the market performance, and some high-quality companies will stand out. Among them, the performance of central state-owned enterprises and high credit private real estate enterprises in the real estate development sector will be more prominent. The current market conditions and their competitive advantages will help them obtain the opportunity to significantly improve their market share in the medium term. A shares recommended by the developer: Poly Developments And Holdings Group Co.Ltd(600048) , China Merchants Shekou Industrial Zone Holdings Co.Ltd(001979) , Gemdale Corporation(600383) , Vanke A, Hangzhou Binjiang Real Estate Group Co.Ltd(002244) , Seazen Holdings Co.Ltd(601155) , Tianjin Guangyu Development Co.Ltd(000537) , Shanghai Wanye Enterprises Co.Ltd(600641) , Xiamen C&D Inc(600153) ; Hong Kong stocks: China overseas development, China Resources Land, Longhu group and Xuhui holding group. Property management recommendations include a shares: China Merchants Property Operation & Service Co.Ltd(001914) , New Dazheng Property Group Co.Ltd(002968) ; Hong Kong stocks: Country Garden service, poly property, Xuhui Yongsheng service, China Resources Vientiane life. Green City Management Holdings is recommended by the agent construction standard.
Risk tip: upgrading of regulation policies in the real estate industry; Sales and carry forward are less than expected; Repeated outbreaks; The competition intensity of the property management company is upgraded, and the external expansion is blocked
