On the 28day of the 28day day, the real estate sector is a 28 day sector with a 28 day rally on the 28 day day of the 28 day sector of the real estate sector. The real estate sector has a rising force on the 28 day of the 28 day of the 28 day of the 28 day of the 28 day sector, and the real estate sector. The real estate sector has a rising force on the 28 day of the 28 day of the 28 day of the 28 day of the 28 day of the day of the 28 day of the day of the 28 day of the 28 day, and as of the time of the release, the Hongda Xingye Co.Ltd(002002) Hongda Xingye Co.Ltd(002002) Hongda Xingye Co.Ltd(002002) 002, and the Hongda Xingye Co.Ltd(002002) Hongda Xingye Co.Ltd(002002) Hongda Xingye Co.Ltd(002002) 305of the 305 , Shandong Xinneng Taishan Power Generation Co.Ltd(000720) and other more than 10 shares rose by the limit, Shenzhen Sdg Service Co.Ltd(300917) , Shenzhen New Nanshan Holding (Group) Co.Ltd(002314) , Shenzhen Properties & Resources Development (Group) Ltd(000011) increased by more than 8%.
For the real estate sector, Capital Securities pointed out that the current decline in industry fundamentals continued. Since April, the sales area of high-frequency data in key cities has decreased by 53.2% year-on-year, and the decline has continued to expand. Recently, under the framework of urban implementation, demand side support policies have been accelerated. Taizhou, Longyan, Yancheng and Suzhou have reduced the down payment ratio and increased the loan amount at the provident fund level. Housing loan interest rates in many places in Guangdong and around Beijing have been reduced. Recently, the policy introduction intensity under the framework of urban policy implementation has increased significantly, and the scope of cities involved has been further extended to some second tier cities, but generally speaking, the scope and intensity of easing still have great room for improvement.
All indicators of the industry showed a downward trend in the first quarter. Superimposed on the impact of the spread of the epidemic on the overall economy, the pressure on the annual economic growth target increased sharply. Therefore, the policy level at both ends of real estate supply and demand still needs to be further strengthened and relaxed. Recently, the policy introduction intensity under the framework of urban policy implementation has increased significantly, and the scope of cities involved has been further extended to some second tier cities, but generally speaking, the scope and intensity of easing still have great room for improvement. At the same time, the central bank and the State Administration of foreign exchange proposed on April 18 to implement differentiated housing credit policies, reasonably determine the minimum down payment ratio and minimum loan interest rate requirements of commercial individual housing loans within their jurisdiction, and further clarify the attitude of continuing to increase the support on the demand side. For the supply side, under the background of Limited sales collection and no fundamental improvement in financing, Real estate enterprises still need more targeted rescue policies to cope with the upcoming debt repayment peak. From an overall perspective, the policy tools for real estate will be further improved with the continuous bottoming of economic fundamentals.
Citic Securities Company Limited(600030) believes that the key variable affecting the relative income of the real estate industry is not the fundamentals, but the policy trend. In April, affected by the epidemic, sales fell more year-on-year, with stronger macroeconomic uncertainty. It is expected that a stronger urban implementation strategy is brewing. With the change of industry competition pattern, enterprises with both credit and efficiency have investment value. Recommend Poly Developments And Holdings Group Co.Ltd(600048) , China Merchants Shekou Industrial Zone Holdings Co.Ltd(001979) , Gemdale Corporation(600383) , Vanke enterprise, Hangzhou Binjiang Real Estate Group Co.Ltd(002244) , Midea real estate, Greentown China, China Resources Land and Longhu group.
