Domestic housing stocks continued to fall. As of press release, Yuexiu Real Estate (00123) fell 5.05% to HK$6.2; Midea Real Estate (03990) fell 4.33% to HK$5.53; and R&F Real Estate (02777) fell 2.52% to HK$1.16.
The Zhitong Finance App learned that domestic housing stocks continued to decline. As of press release, Yuexiu Real Estate (00123) fell 5.05% to HK$6.2; Midea Real Estate (03990) fell 4.33% to HK$5.53; R&F Real Estate (02777) fell 2.52% to HK$1.16; and Sunac China (01918) fell 2.25% to HK$1.74.
Debon Securities pointed out that further optimization on the policy side, the gradual implementation of a real estate financing coordination mechanism, and the introduction of favorable policies such as reducing the down payment ratio, lowering interest rates on provident fund loans, and abolishing the lower limit on mortgage interest rates on the demand side will help further release effective demand and promote a steady recovery in the property market. From a cumulative year-on-year perspective, the cumulative year-on-year decline in residential sales area and sales in April was still relatively sharp, and there has been no significant recovery on the sales side. Looking ahead to the future market, with the further implementation of the real estate financing coordination mechanism, “trade-in” further opening up new and second-hand housing replacement channels, and the government's acquisition of existing housing to remove inventory, market sales are expected to recover steadily.
CICC, on the other hand, said that real estate stocks have recently shown a rapid recovery driven by policy, and it is expected that there will still be further upward momentum in the short term. Considering that there will be a certain time lag and uncertainty from the release of the policy to the effect of fundamentals, the market may also experience a phased correction as the cumulative increase gradually expands. A period of observation on the effects of the policy followed.