Inner city real estate sector continues to decline. As of press time, Agile Group (03383) fell 3.47%, CIFI Holdings Group (00884) fell 3.03%, China Resources Land (01109) fell 1.79%, and Sunac (01918) and China Vanke (02202) followed suit.
On the news front, it has been reported that several commercial banks in Shenzhen have required that personal housing mortgage loans can only be granted after the main structure is capped. This means that banks will only issue personal housing mortgage loans for housing projects where the main structure has been capped, and the relevant regulations will be formally implemented from the 5th. A personal loan manager from Bank of China confirmed that the above news is true and that the relevant regulations will be formally implemented from the 5th.
In addition, according to a report from the China Index Academy, the trend of "price for volume" continued in the second-hand housing market in the first half of 2024, with a cumulative decline of 3.61% in second-hand housing prices in 100 cities. The prices have fallen for 26 consecutive months, and the number of cities with month-on-month price declines has exceeded 90 for 13 consecutive months. Due to the introduction of improved buildings, the prices of new homes in 100 cities have risen by 1.24%. In the first half of the year, sales of new homes were weak, with sales of new commercial residences in the top 100 cities decreasing by about 40% year-on-year. In June, due to the decline in the base effect and the emergence of policy effects, the decline in sales area narrowed to about 20% year-on-year.