2024上半年，全国一线、二线、三线城市房价同比增速继续下行。海通证券认为综合来看市场稳增长的大环境没有改变，优质公司相对其它房企的优势和价值将会越加突出。Mainland real estate stocks opened high, as of the deadline, Sunac rose 9.71%, to HKD 1.13; Shimao Group rose 9.43%, to HKD 0.58; R&F Properties rose 9.33%, to HKD 0.820; CIFI Hold GP rose 7.02%, to HKD 0.244.
Mainland real estate stocks opened high, as of the deadline, $SUNAC (01918.HK)$rose 9.71%, to HKD 1.13; $SHIMAO GROUP (00813.HK)$rose 9.43%, to HKD 0.58;$R&F PROPERTIES (02777.HK)$rose 9.33%, to HKD 0.820;$CIFI HOLD GP (00884.HK)$Up 7.02%, reported 0.244 Hong Kong dollars.
On the news front, Pan Gongsheng, Governor of the People's Bank of China, announced at a press conference at the State Council Information Office on September 24 that the interest rates on existing home loans will be lowered and the minimum down payment ratio for home loans will be unified. This will guide commercial banks to lower the interest rates on existing home loans to levels close to the interest rates on new home loans, with an expected average reduction of around 0.5 percentage points. The minimum down payment ratios for first homes and second homes will be unified, with the nationwide minimum down payment ratio for second home loans being reduced from 25% to 15%.
In the first half of 2024, the year-on-year growth rates of housing prices in first-tier, second-tier, and third-tier cities nationwide continue to decline. Haitong Securities believes that overall, the market environment of stable growth has not changed, and the advantages and value of high-quality companies relative to other real estate enterprises will become more prominent.
GTJA Securities released a research report stating that according to statistics bureau data, there have been improvements in real estate investment and construction area data in August, with a slight narrowing of the decline. All data performances have not shown significant fluctuations. Considering that August has entered the final stage of the impact of the policies introduced in May, there is still anticipation for new policies to provide support.
Guosen Securities pointed out that from the perspective of reducing residents' repayment burden, boosting consumption potential, and curbing prepayment of loans, the bank believes that lowering the interest rates on existing housing loans is reasonable, as previous adjustments to existing mortgage rates have been effective. Lowering the interest rates on existing housing loans can on one hand save interest repayment for borrowers, reduce residents' debt pressure, expand consumption and investment, and on the other hand, help commercial banks smooth out the pressure of early repayment of loans, stabilize expectations for housing consumption, and boost confidence in home purchases.
Editor/Rocky
