In March, the national real estate sales area was 153 million square meters, yoy-17.7%; The sales amount was 1419.6 billion yuan, yoy-26.2%, and the sales fell sharply year-on-year. The average selling price in March was 9252.4 yuan / m2, mom-6% and yoy-10.3%. From January to March, the cumulative sales area was 310 million square meters, yoy-13.8%; The sales amount is 2965.5 billion yuan, yoy-22.7%; The year-on-year decline in sales area and sales amount increased by 4.2 and 3.4 percentage points respectively from January to February. The average selling price from January to march was 9552 yuan / m2, yoy-10.4%. The confidence of home buyers in the real estate industry has not been repaired. Coupled with the impact of the epidemic, the real estate sales data continued to weaken.
In March, the amount of real estate investment was 1.33 trillion yuan, yoy-2.4%. From January to March, the cumulative real estate investment was 2.78 trillion yuan, yoy + 0.7%, and the cumulative growth rate decreased by 3 percentage points compared with that from January to February.
In March, the land purchase area was 05 million square meters, yoy-40.9%; The land transaction price was 30.3 billion yuan, yoy-0.98%. From January to March, the cumulative land purchase area and land transaction price were 13.4 million square meters and 67.2 billion yuan respectively, and yoy was - 41.8% and - 16.9% respectively. Due to poor sales, real estate enterprises are still cautious in obtaining land.
In March, the new construction area was 149 million square meters, yoy-22.2%; From January to March, the cumulative new construction area was 298 million square meters, yoy-17.5%. Due to the gradual decline of land acquisition in the previous two years, the new construction data is expected to increase negatively this year. The completed area in March was 47 million square meters, yoy-15.5%, and the cumulative completed area from January to march was 169 million square meters, yoy-11.5%. We believe that the epidemic has had a certain impact on the completion of real estate. Under the pressure of guaranteed delivery of buildings, the completion volume of the whole year is expected to increase positively.
In March, the funds in place of real estate enterprises were 1.3 trillion yuan, yoy-23%, with a large year-on-year decrease. Among them, due to the decline in sales, the funds in place of personal mortgage loans were 224.5 billion yuan, yoy-22.1%; The deposit and advance payment were 422.5 billion yuan, yoy-37.5%. The self raised funds of real estate enterprises were 463.8 billion yuan, yoy-2.3%; China's loan is 142 billion yuan, yoy-29.7%. Due to the great risks in the real estate industry, it is difficult to increase new loans.
The downward trend of the real estate market is significant, which puts great pressure on the steady growth. Therefore, since March, the real estate policies in various regions have been further loosened. Several provincial capital cities, such as Zhengzhou, Harbin, Fuzhou and Lanzhou, have adjusted the policies of sales restriction, purchase restriction and down payment ratio to varying degrees. At present, the policy surface continues to improve, but a large number of debts of real estate enterprises are about to expire. Coupled with the disturbance of the epidemic, the hidden danger of thunderstorm of real estate enterprises still exists. The industry still needs time to clear the risks and rebuild confidence. We expect real estate investment and sales growth to be under pressure throughout the year. At present, the process of industry merger and integration is accelerating. We believe that leading enterprises with strong capital strength and fine management ability are expected to continue to improve the market share. Vanke A ( China Vanke Co.Ltd(000002) . SZ), Poly Real Estate ( Poly Developments And Holdings Group Co.Ltd(600048) . SH) and other leading stocks are currently valued at a low level, and the layout can be selected.
