Jinwu Financial News | Major real estate policies were introduced, but domestic housing stock performance was divided. R&F Real Estate (02777) fell 6.77%, Longguang Group (03380) fell 6.02%, Agile Group (03383) fell 5.43%, Shimao Group (00813) fell 4.55%, and Xincheng Development (01030) fell 4.07%.
In terms of growth, Zhongliang Holdings (02772) rose 5.26%, Midea Real Estate (03990) rose 5.09%, Vanke Enterprise (02202) rose 3.36%, and Yuexiu Real Estate (00123) rose 1.87%.
The rating agency Fitch published a report saying that the mainland's annual demand for new housing from 2024 to 2040 fell by nearly 20% to an average of about 800 million square meters per year. According to estimates of the mainland's aging population from 2011 to 2020 and the slowing rate of urbanization due to economic transformation, it is expected that the demand for new urban housing from rural people flowing into the city will drop by 30%.
Fitch's forecast is 33% lower than China's official statistics showing the average actual housing demand of 1.2 billion square meters from 2011 to 2020. It is also lower than Fitch's estimate of 850 million to 900 million square meters of residential property sales in the mainland this year.