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[Brokerage Focus] OCBC Bank pointed out that China's real estate market performed steadily in November, expecting the overall industry allocation attractiveness to increase.
King& Capital News | The latest China real estate weekly report released by DBS Bank shows that the Chinese real estate market performed steadily in early November 2024. The bank stated that the average weekly transaction volume of GFA (Gross Floor Area) in 27 tracked cities increased by 7.2% compared to the previous month and grew by 32% compared to the same period last year, rising by 24% from the same period last year. In addition, the number of new units launched in 11 major first and second-tier cities decreased by 25% compared to the previous month, but the monthly average transaction volume increased by 6% compared to October, and the average sales rate increased by 8.8 percentage points to 56.3%. In terms of inventory, the inventory levels in key cities have also shown some improvement.
Home Prices in Major Chinese Cities Show Slight Improvement
[Brokerage Focus] UBS Group: Slight positive impact of China's real estate tax reduction policy.
Jinwu Financial News | Summary: A report by ubs group indicates that the tax reduction policy jointly announced by the Ministry of Finance, the State Taxation Administration, and the Ministry of Housing and Urban-Rural Development has a slight positive impact on the real estate industry. The policy aims to support housing demand by reducing trade costs and alleviating cash flow pressure on developers. The report believes that the decrease in deed tax and the exemption of value-added tax (VAT) on non-normal residences have limited market impact but may increase the supply in the secondary housing market and make sellers more willing to accept lower prices, as net gains may be higher than before. In addition, the reduction in the prepayment rate of land appreciation tax (LAT) affects developers' outflow of cash.
Mainland real estate turned from rising to falling. Longfor Group (00960) dropped 5.23%. Morgan Stanley indicated that real estate developers can hardly benefit from the tax reduction policy.
Jingu Financial News | Mainland real estate stocks have turned from rising to falling. As of the time of writing, longfor group (00960) is down 5.23%, china res land (01109) is down 4.59%, seazen (01030) is down 4.05%, china overseas (00688) is down 3.77%, and china vanke (02202) is down 3.61%. In terms of news, morgan stanley issued a research report indicating that the Ministry of Finance launched a series of housing tax relief measures yesterday (the 13th) to reduce the transaction costs for buyers and sellers. The measures are generally in line with market expectations and may provide slight assistance to real estate sales in the short term.
Mainland real estate stocks collectively weakened, sunac (01918) fell by 5.94%, with the average price of second-hand residences in 100 cities in October decreasing by 7.27% year-on-year.
Kingwus Finance News | Mainland real estate stocks collectively weakened. As of the time of publication, Sunac (01918) fell by 5.94%, r&f properties (02777) fell by 5%, China Vanke (02202) fell by 3.67%, Yuexiu Property (00123) fell by 3.53%, Longfor Group (00960) fell by 3.22%. On the news front, according to the China Real Estate Index System's report by China Index Research Institute, in October 2024, the average price of second-hand residences in one hundred cities fell by 0.60% month-on-month, narrowing by 0.10 percentage points compared to the previous month; a year-on-year decrease of 7.27%. In October, the top ten cities
China Academy of Urban Planning and Design: Expectations for the real estate market and buyers' confidence have somewhat recovered, with a significant increase in the activity of the real estate market in October.
Currently, the volume and price of the core urban market have shown preliminary signs of stabilizing after a decline. If further supportive policies can be introduced in the future to consolidate the effects of previous policies, core cities may have the potential to achieve stabilization after a decline.
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股利股怪 OP : Hopeless shit