Jingu Financial News: Some mainland real estate stocks are under pressure, with Sino-Ocean Group (03377) falling by 7.27%, CIFI Holdings Group (00884) falling by 5.45%, Longfor Group (00960) falling by 4.95%, Shimao Group (00813) falling by 3.27%, Sunac (01918) falling by 2.84%, Greentown China (03900) falling by 2.15%.
On the news front, according to statistics from China Index Institute, in September, the sales of the top 100 real estate companies decreased by 38.81% year-on-year, a decrease of 2.2% month-on-month. Looking at the cumulative figures, in the first three quarters of this year, the performance scale of the top 100 real estate companies has remained at a historical low. Data from China Index Institute shows that from January to September 2024, the total sales of the top 100 real estate companies amounted to 2,969.94 billion yuan, a year-on-year decrease of 38.8%.
Analysts from Ke Ruirui stated that in September, which is the traditional peak season for marketing, real estate companies have slightly increased their discount efforts, but transaction performance still remains somewhat subdued. Predicting October, based on expectations of favorable policies, overall transactions may stabilize or see a slight increase. First-tier cities, as direct beneficiaries of new policy incentives, still have room for increased sales in new properties.