Domestic housing stocks declined again. As of press release, Midea Real Estate (03990) fell 6.23% to HK$3.61; Ocean Group (03377) fell 3.51% to HK$0.275; and Vanke Enterprise (02202) fell 3.1% to HK$4.38.
The Zhitong Finance App learned that domestic housing stocks fell again. As of press release, Midea Real Estate (03990) fell 6.23% to HK$3.61; Ocean Group (03377) fell 3.51% to HK$0.275; Vanke Enterprise (02202) fell 3.1% to HK$4.38; and Yuexiu Real Estate (00123) fell 1.47% to HK$4.02.
According to the news, according to Kray data, in the first quarter of 2024, the overall operation of the Chinese real estate market remained low, and corporate sales continued to be under pressure. In January-March, the top 100 real estate companies achieved a sales transaction amount of 779.24 billion yuan, a year-on-year decrease of 47.5%. Open Source Securities pointed out that overall sales in the first quarter of 2024 are still bottoming out. The real estate market continues to be under pressure, market expectations are insufficient, and only core Tier 1 and 2 cities have experienced a slight recovery under favorable policies.
Tianfeng Securities, on the other hand, believes that sales of the top 100 may still be under pressure in April, mainly because the impact of price-for-volume diversion of second-hand housing may continue in stages, supply factors concentrated on housing enterprises may weaken, and there are still no clear signs of factors affecting fundamental expectations, such as the cessation of price declines. Whether new policies have been introduced or are there any key factors affecting the sustainability of future repairs.