Mainland real estate stocks surged before falling back; as of the time of writing, ronshinechina (03301) is down 5.05% at 0.47 HKD; zhongliang hldg (02772) is down 3.68% at 0.131 HKD; shimao group (00813) is down 2.5% at 1.17 HKD.
According to Zhito Finance APP, mainland real estate stocks surged before falling back; as of the time of writing, ronshinechina (03301) is down 5.05% at 0.47 HKD; zhongliang hldg (02772) is down 3.68% at 0.131 HKD; shimao group (00813) is down 2.5% at 1.17 HKD; sunac (01918) is down 0.37% at 2.68 HKD.
On the news front, the statistics bureau recently released the real estate investment and sales data for January to October 2024. From January to October 2024, real estate development investment was 8630.9 billion yuan, a year-on-year decrease of 10.3%; new commodity housing sales totaled 7685.5 billion yuan, a year-on-year decrease of 20.9%; funded capital for real estate development enterprises amounted to 8723.5 billion yuan, a year-on-year decrease of 19.2%. Guosen pointed out that with the policy effects on the demand side beginning to show at the end of September, indicators of sales volume and price have marginally improved, but development investment has not yet improved. The future market performance of the real estate sector will depend on the progress of policies such as the recovery of existing land and the expansion of urban village renovations and the continuity of the corrections in the housing market volume and price.
It is worth mentioning that Guangzhou Anju Group announced it will acquire existing commodity housing below 90 square meters citywide for indemnificatory apartments, and developers interested in participating can register from November 18 to December 18. In addition, the Beijing Municipal Commission of Housing and Urban-Rural Development, the Municipal Finance Bureau, and the Beijing Taxation Bureau jointly issued a notice regarding the cancellation of the general housing standard, stating that Beijing will eliminate the distinctions between ordinary and non-ordinary housing standards, effective December 1, 2024. The Shanghai Municipal Commission of Housing and Urban-Rural Development and three other departments also issued a notice clarifying that Shanghai will cancel the distinctions between ordinary and non-ordinary housing standards and also clarify the tax matters related to personal housing transactions following the cancellation of these standards. This policy will take effect from December 1 of this year.