Mainland real estate stocks fell collectively. As of press time, Sunac (01918) fell 6.9%, closing at HKD 1.08; China Vanke (02202) fell 5.66%, closing at HKD 4.5; R&F Properties (02777) fell 5.32%, closing at HKD 0.89; Seazen (01030) fell 2.92%, closing at HKD 1.33.
According to the data from the Cric Research Center, as of June 2024, nearly 60% of the top 100 real estate companies achieved month-on-month revenue growth, and nearly 30% of real estate companies achieved year-on-year revenue growth. According to data from the China Index Academy, in the first half of 2024, the total sales of the top 100 real estate companies was RMB 2,083.47 billion, a year-on-year decrease of 41.6%, which continued to narrow by 3.8 percentage points from the previous month.
In terms of news, the data from the Cric Research Center shows that nearly 60% of the top 100 real estate companies achieved month-on-month revenue growth in June 2024, and nearly 30% of real estate companies achieved year-on-year revenue growth. According to data from the China Index Academy, in the first half of 2024, the total sales of the top 100 real estate companies was RMB 2,083.47 billion, a year-on-year decrease of 41.6%, which continued to narrow by 3.8 percentage points from the previous month.
Guotai Junan Securities pointed out that the policy signal for stabilizing the real estate market was clear in 2024, and the overall purchase policy in first-tier cities became more relaxed, with marginal opening of the purchase restriction policy and historical lows for down payment ratio and housing loan interest rates. At the level of volume and price, the sales of new homes in first-tier cities in 2024 fell short of expectations, and second-hand homes obviously increased in volume after the price cut, with some recovery in transaction volume. We believe that it will take a certain conversion period for the easing policy to boost purchasing expectations and promote market transactions. Since June, the market transactions in four cities have all improved, and the rental yield has further increased the cost-effectiveness of property allocation. We believe that the real estate policy in the future will continue to be loose, and there is still room for the release of purchasing demand.