Mainland real estate continued its recent strong performance, with Sunac up 10.77%; Longfor Group up 9.93%; China Vanke up 7.81%;
According to Zhitong Finance APP, mainland real estate stocks continue their recent strong performance,$CIFI HOLD GP (00884.HK)$up 10.77%;$SUNAC (01918.HK)$up 9.93%; $LONGFOR GROUP (00960.HK)$up 7.81%;$CHINA VANKE (02202.HK)$Rises by 7.5%.
On the news front, the meeting of the Political Bureau of the CPC Central Committee on September 26 emphasized the need to promote the stabilization of the real estate market, strictly control the increase of new commodity housing, optimize the existing stock, improve quality, increase the intensity of loans for 'white list' projects, and support the activation of idle existing land. In response to public concerns, adjust the housing purchase restriction policies, lower interest rates on existing housing loans, and promptly improve policies related to land, finance, and taxation to promote the establishment of a new model for real estate development.
CICC stated that in the current background of weak real estate sales and investment, the positive statements regarding the real estate sector at this meeting have strong signaling significance, which helps boost market confidence. It is expected that more detailed policies will be introduced in the future to promote the establishment of a new model for real estate development. Keizairei believes that local new regulations, including adjustments and cancellations of housing purchase restrictions in 6 cities including first-tier cities, as well as measures to optimize existing stock and improve quality, will be implemented more rapidly. Guangzhou is considered the city most likely among first-tier cities to completely lift restrictions on housing purchases.
It is worth noting that Pan Gongsheng, Governor of the People's Bank of China, announced at a State Council Information Office press conference on September 24 that the interest rates on existing housing loans will be reduced and the minimum down payment ratio for housing loans will be unified, guiding commercial banks to lower existing housing loan rates to levels near those of new mortgage rates. Several internal sources from banks revealed that banks are currently awaiting specific implementation details from financial regulatory authorities and conducting equipment tests. Some bank officials anticipate that the adjustment of existing housing loan rates will be implemented as early as after the National Day holiday.
Editor/ping