浦银国际表示，这些政策措施进一步体现了政府支持促进房地产市场止跌回稳的决心，短期重点或聚焦在政策落实情况上。中期来看，政府仍有空间扩展货币化安置城中村改造的规模以及提供更多成本更低的资金支持收购房企存量房。如果政策得以稳步推进，那么我们认为房产销售有望在明年年中企稳。Jingu Financial News: Some mainland real estate stocks rebounded, with sunac (01918) up 5.8%, r&f properties (02777) up 5.36%, radiance hldgs (09993), shimao group (00813), logan group (03380), china jinmao (00817) all rising by over 2%.
On the news front, on October 17th, the State Council Information Office held a press conference on promoting the stable and healthy development of the real estate market. Minister of Housing and Urban-Rural Development, Ni Hong, stated at the conference that from the market feedback perspective, there has been a significant increase in property viewings and visits in many cities and projects, with varying degrees of sales growth observed, indicating a clear improvement in the main indicators of the real estate market. Particularly in first-tier cities, there has been a stabilization trend since October. Meanwhile, under the influence of a series of policies in China, after three years of adjustment, the market has started to stabilize. The data for October is expected to show positive and optimistic results.
China Securities Co.,Ltd. research reports indicate that the Ministry of Housing and Urban-Rural Development proposed to implement an additional 1 million sets of urban village renovations and dilapidated house transformations through monetized resettlement housing methods. They also stated that building on the foundation of previous work, efforts can be further intensified; funding sources for monetized resettlement include special loans from developmental and policy-based financial institutions, local special bonds, and commercial bank loans. Between 2015 and 2018, China mainly relied on PSL loans provided by the central bank as the main source of funds to vigorously promote monetized resettlement for shantytown renovations, effectively driving the destocking process of the real estate sector. This statement from the Ministry of Housing and Urban-Rural Development marks the restart of the monetized resettlement method for urban renewal, signaling the regulator's determination to promote destocking in real estate, with expectations for future policy implementation and enhancement.
Puyin International stated that these policy measures further demonstrate the government's determination to support and stabilize the real estate market. In the short term, the focus may be on policy implementation. Looking ahead, the government still has room to expand the scale of monetized resettlement for urban village renovations and provide more low-cost funding support for acquiring existing housing stock by real estate developers. If policies progress steadily, we believe that property sales are likely to stabilize by the middle of next year.
