The Zhitong Finance App learned that domestic housing stocks continued their recent gains. As of press release, Xincheng Development (01030) rose 5.88% to HK$1.08; China Overseas Development (00688) rose 4.45% to HK$12.68; Yuexiu Real Estate (00123) rose 4.09% to HK$4.07; and Xuhui Holdings (00884) rose 3.92% to HK$0.265.
According to the news, Shenzhen was the first to launch a “trade-in” housing. Currently, 21 agencies and 13 real estate projects have participated in the “Happy Home Exchange”. According to statistics from the China Index Research Institute, over 30 cities have now expressed support for “trade-in.” More than 10 cities, including Xuzhou, Zibo, and Nanjing, have implemented this policy. Dongwu Securities said that real estate enterprise-side and resident-side policies are progressing steadily, and it looks forward to the gradual opening of real estate policies in more core cities in April and May, boosting market demand and confidence.
Guoxin Securities pointed out that the real recovery of the property market is a prerequisite for the emergence of the real estate sector. Frequent demand-side policies in various regions will support the initial stabilization of the property market, but the sustainability of the recovery has yet to be verified. Whether judging from the Bureau of Statistics data or high-frequency data, industry indicators continue to decline. Except for the new construction data, they all compound our previous judgments, but we have seen a marked drop in new housing prices so we insist on the judgment that the 2024 new construction data will improve.