Most of the mainland real estate stocks rebounded in early trading. As of the press release, Shimao Group (00813) rose 9.88% to HKD 0.89; Sino-ocean GP (03377) rose 4.17% to HKD 0.375.
According to the Zhixun Finance APP, most Mainland real estate stocks rebounded in early trading. As of the press release, Shimao Group (00813) rose 9.88% to HKD 0.89; Sino-ocean GP (03377) rose 4.17% to HKD 0.375; Agile Group (03383) rose 3.77% to HKD 0.55; and Sun Hung Kai Properties Limited (00016) rose 3.08% to HKD 0.335.
On the news front, the National Bureau of Statistics recently released data on the changes in the sales prices of residential buildings in 70 large and medium-sized cities in June of this year. Dongxing Securities pointed out that the year-on-year decrease in new home sales in June has narrowed, and the average sales price has remained basically the same year-on-year. The bank believes that many core first and second-tier cities have successively canceled or relaxed home purchase restrictions, reduced down payment ratios, and canceled or lowered the lower limit of mortgage interest rates, which has promoted the stabilization of market demand in June. The bank believes that April was the low point for policy and sentiment. The current policy strength and industry fundamentals are significantly better than in April.
In addition, following the "5.17 New Policy," Guangzhou became the first first-tier city in China to cancel the lower limit of housing loan interest rates. Less than two months later, the four major state-owned banks once again lowered the first-home loan interest rates in Guangzhou. According to reports, the four major state-owned banks, including ICBC, Agricultural Bank of China, Bank of China, and China Construction Bank, have jointly lowered the interest rates of first-home loans in Guangzhou by 20 basis points, adjusting the interest rate of first-home loans from 3.4% (LPR-55bp) to 3.2% (LPR-75bp), while the interest rate of second-home loans remains at 3.8% (LPR-15bp).