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haitong int'l: Significant improvement in commodity housing sales in October, with a narrowing year-on-year decline in completion.
The current real estate sector's market cap as a percentage of economic value is not completely equivalent, indicating potential for value reassessment.
Poly Developments and Holdings Group Co., Ltd.'s (SHSE:600048) Intrinsic Value Is Potentially 76% Above Its Share Price
Guosen: Marginal improvement in real estate sales volume and price from January to October 2024, development investment has not yet improved.
Observing the sales scale relative to the historical same period, the sales volume and sales area of commodity housing in October are equivalent to 62% and 54% of the same period in 2019, still at a relatively low level, but have improved compared to the previous low point. The effects of a series of demand-side bullish policies introduced at the end of September are more pronounced.
Open Source Securities: Several departments have issued announcements to increase tax incentives, which may promote the improvement of housing demand release.
The overall coverage of the deed tax policy is relatively wide, after implementation, it will further reduce the tax and fee costs for residents' home purchases, promote the release of demand for improved housing; at the same time, for first-tier cities, the deed tax incentives are even greater, with the highest reduction reaching 2 percentage points.
Kaiyuan Securities: The real estate industry's monthly sales improved as expected, and the decline in funds returned by real estate companies significantly narrowed.
From January to October, the national sales area of commodity housing was 0.779 billion square meters, a year-on-year decrease of 15.8% (1-9 months -17.1%), with the sales area of residential properties decreasing by 17.7% year-on-year; From January to October, the sales of commodity housing reached 7.69 trillion yuan, a year-on-year decrease of 20.9% (1-9 months -22.7%), with the sales revenue of residential properties decreasing by 22.0% year-on-year.
Poly Developments and Holdings Group Acquires Land in Haizhu District, Guangzhou