Following the absence of Xiao Yangchun in March, the sales of the top 100 real estate enterprises continued to weaken year-on-year in April.
Kerui data show that the top 100 real estate enterprises realized a sales trading amount of 428.47 billion yuan in a single month in April, a month on month decrease of 16.2%; The year-on-year decrease was 58.6%, which was larger than that in March, and was at the highest level of year-on-year decline in single month performance in recent years.
In terms of cumulative performance, the overall performance scale of the top 100 real estate enterprises from January to April decreased significantly by 50.2% year-on-year, further expanding compared with the first quarter.
"In April 2022, the market sentiment was relatively low, and the sales amount of real estate enterprises continued to decline due to the impact of the epidemic in many cities. From the weekly high-frequency data, the sales of first-hand and second-hand houses in cities at all levels still fell year-on-year in late April, while the month on month data has risen for three consecutive weeks, and the market is at the bottom stage." Sinolink Securities Co.Ltd(600109) analyst Du Haomin said.
According to Kerui's statistics, the sales volume of 39 of the top 100 real estate enterprises increased month on month in April, down 11 from March; Only three real estate enterprises showed year-on-year growth, down 3 from March Sinolink Securities Co.Ltd(600109) data show that among the top 50 real estate enterprises, the top five real estate enterprises with year-on-year growth in sales in April are Yuexiu real estate, hailenburg, Hangzhou Binjiang Real Estate Group Co.Ltd(002244) , Grandjoy Holdings Group Co.Ltd(000031) , and MediaTek group.
According to the data of China Index Institute, from January to April 2022, the average sales of top 100 real estate enterprises was 21.22 billion yuan, a year-on-year decrease of 50.2%; Among them, there were 3 real estate enterprises with sales exceeding 100 billion yuan, a decrease of 6 compared with the same period last year, namely country garden 163.39 billion yuan, Vanke 138 billion yuan and Poly Developments And Holdings Group Co.Ltd(600048) 1212 billion yuan. There are 57 real estate enterprises with sales of more than 10 billion, a decrease of 46 compared with the same period last year.
While sales continued to weaken, the land acquisition scale of real estate enterprises continued to decline.
According to the statistics of China Index Institute, from January to April 2022, the total land acquisition of Top100 enterprises was 362.6 billion yuan, and the land acquisition scale decreased by 55.9% year-on-year.
In terms of new value added, Hangzhou Binjiang Real Estate Group Co.Ltd(002244) , Greentown China and China Construction Development Real Estate occupy the top three places on the list. From January to April 2022, Hangzhou Binjiang Real Estate Group Co.Ltd(002244) ranked first in the list with the cumulative added value of 57.5 billion yuan; Greentown China and China Construction and development real estate followed, with the cumulative added value of 54.8 billion yuan and 39.1 billion yuan respectively.
"At present, paying attention to sales collection, improving their hematopoietic ability, ensuring cash flow safety, optimizing debt structure and preventing liquidity risk are the key for enterprises to maintain financial concentration and stable operation." Kerry analysts said.
It is noteworthy that in order to stabilize the property market, all localities are accelerating the introduction of property market support policies since this year. According to the monitoring of the central index Institute, as of April 29, nearly 100 cities across the country have issued more than 100 real estate policies this year, mainly involving optimizing the purchase restriction policy, reducing the proportion of down payment, issuing house purchase subsidies, reducing the number of years of sales restriction and so on.
Zhang Dawei, an analyst at Centaline real estate, believes that more cities are expected to release policies to stabilize the real estate market, and the strength will be increased.
"Whether the property market can really stabilize depends on whether there are stronger policies, such as reducing the down payment ratio of second homes in core cities. These measures will play a more obvious role in activating the demand for improved house purchase." The above Kerui analysts said that the core cities are expected to reach the bottom and stabilize in the third quarter, and the adjustment cycle of the third and fourth tier cities is longer.
Xu Xiaole, an analyst at Shell Research Institute, believes that with the gradual release of house purchase demand, the acceleration of market deregulation and the clearing of liquidity risks of real estate enterprises, consumers' concerns about purchasing new houses are alleviated and the market expectation will be improved. The improvement of the sales side will improve the confidence of real estate enterprises in investment and construction, and their enthusiasm for land acquisition will also be restored.
