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GF Sec: Land Activation Fund Established, New Home Sales Turn Positive year-on-year in early July.
GF sec released research reports stating that the state-owned assets supervision and administration commission has set up a special fund for land consolidation with a total size of 30 billion yuan and requires central SOEs to report pilot projects to try to solve the problem of long-term high inventory in the real estate market. On the local policy side, this week still mainly focuses on relaxing housing provident fund policies and providing housing subsidies to boost demand, and various regions are still exploring new policies to stimulate demand.
htsc: The land market supply and demand continues to be weak, focusing on real estate companies with core urban resources.
The land market is still weakly running in the first half of 2024, and the trend of shrinking volume continues, while the previously maintained rising transaction average price also decreased year-on-year in the first half of the year.
Mainland real estate stocks fell across the board. Agile Group (03383) fell by 3.47%. From today on, personal mortgage loans for housing projects with a capped main structure will be strictly implemented.
Inside the mainland real estate sector, the decline continued. As of press time, Agile Group (03383) fell by 3.47%, CIFI Hold GP (00884) fell by 3.03%, China RES Land (01109) fell by 1.79%, Sunac (01918) and China Vanke (02202) followed suit. In terms of news, it has been reported that several commercial banks in Shenzhen have required that personal housing mortgage loans can only be lent after the main structure has been capped. In other words, banks will only issue personal housing mortgage loans for housing projects in which the main structure has already been topped off. The relevant regulations will be formally implemented from the 5th. Bank of China.
Agile Group's total pre-sale amount for the first six months amounts to 8.99 billion yuan.
Agile Group (03383) announced that the aggregate amount of pre-sales of real estate projects sold under the Agile Group brand, together with joint ventures and associated companies, in June 2024 was RMB 800 million, corresponding to a construction area of 63,000 square meters; with an average price of RMB 12,707 per square meter. As of June 30, 2024, the aggregate amount of pre-sales of the Agile Group's projects sold under the Agile Group brand, together with joint ventures and associated companies, was RMB 8.99 billion, corresponding to a construction area of 647,000 square meters.
Agile Group Announces Preliminary June 2024 Sales
Agile Group (03383.HK) had a total pre-sale amount of 800 million yuan in June.
Agile Group (03383.HK) announced on July 3 that the company and its subsidiaries, joint venture companies and associated companies, as well as real estate projects managed by the company under the Agile brand, had a total pre-sale amount of RMB 800 million corresponding to a construction area of 63,000 square meters for June 2024. The average price was RMB 12,707 per square meter. As of June 30, 2024, the group's pre-sale amount for the six months, along with its joint venture and associated companies, and the Agile project, amounted to RMB 8.99 billion, corresponding to a construction area of 647,000 square meters.
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