Malaysia's Forest City Tax Incentives Likely to Attract Investment
Express News | Forest City Incentives Include Concessionary Corporate Tax Rate of Between Zero and 5% - State News Agency, Citing Finance Minister
Express News | Malaysia Offers Tax Breaks, Incentives in Bid to Lure Investments to Forest City - State News Agency, Citing Finance Minister
UBS Group: It is expected that the remaining time of the year, Hong Kong property prices will generally stabilize or slightly rebound.
UBS Group issued a research report stating that the USA has officially entered an interest rate cut cycle. Consequently, UBS Group announced that it will follow suit and decrease the best rate for Hong Kong dollars by 25 basis points, unexpectedly becoming a "Mid-Autumn Festival gift" to the Hong Kong property market and bringing bullish news. The interest rate for new residential mortgages will be lowered from 4.125% to 3.88%, which will help narrow the negative interest rate gap with rental return on investment.
After the Fed cuts interest rates, multiple real estate stocks have strengthened. Will mortgage rates be further lowered?
① Influenced by the bullish factor of the Fed's interest rate cut, today's real estate stocks including Vanke, Jindi, Sunac, Shimao Group, and Jingfa International are strong; ② "The Fed's interest rate cut is expected to accelerate the implementation of China's reserve requirement ratio (RRR) and interest rate cuts, which will help further reduce the financing cost of enterprises. For the real estate market, the 5-year LPR is expected to be further reduced, and the cost of home purchase for residents may also decline."
August Housing Starts, Permits Rise More Than Expected
New-Home Prices in China's Major Cities Fell in August -- WSJ
This REIT With a 15% Yield May Have a Dividend Problem. Here's Why. -- Barrons.com
Is real estate inventory declining according to the Zhongzhi Institute?
According to a report by the China Index Academy, the inventory clearance cycle is dynamic and is influenced by both the inventory size and the market sales speed. With a significant reduction in land supply, the market is entering a stage of spontaneous inventory clearance. However, the current real estate sales still face adjustment pressure, and the pace of inventory clearance relying solely on market forces is relatively slow. Therefore, policy support is still needed.
tianfeng securities: What is the outlook for the adjustment of existing home loan interest rates?
Tianfeng Securities stated that, considering the latest mortgage policy and interest rate changes this year, there is indeed a possibility of reducing the interest rates on existing home loans. Further considering the actual impact of reducing the interest rates on existing home loans in 2023, it is expected to have a limited negative impact on the bond market.
Is the 80 basis point spread opening the window for reducing existing mortgage rates? How to relieve bank pressure? Experts suggest: adjust in stages to mitigate the impact, and cut deposit rates to hedge the impact.
①In July, the new personal housing loan interest rate is 3.4%, with an interest rate spread of about 80 basis points between existing house loan rates and new ones, and there is a growing call for residents to adjust existing house loan rates. ②Experts suggest adjusting existing mortgage rates gradually in stages to reduce the impact on banks, while controlling bank liability costs through lowering deposit rates and other means to mitigate interest rate spread pressure.
Country Garden (02007.HK): In August, the sales amount of the company's shareholders' equity attributable to the company was 3.43 billion yuan.
Country Garden (02007.HK) announced on September 5th that the group, together with its joint ventures and associated companies, achieved a total contract sales amount of approximately RMB 3.43 billion for the month of August 2024, which represents the equity attributable to the company's shareholders. The contract sales area attributable to the company's shareholders is approximately 0.35 million square meters. As requested by the company, the trading of the company's shares on the Stock Exchange of Hong Kong has been suspended since 9:00 AM on April 2, 2024. The trading suspension will continue until further notice.
Express News | Country Garden Holdings - August Contracted Sales Attributable RMB 3.43 Bln
Express News | Country Garden Holdings - Change of Auditor
Express News | Country Garden Holdings Co. Is Considering a Fresh Holistic Restructuring Plan for Yuan Bonds- Bloomberg News
The call for a "rate cut" is getting louder! The real estate sector is heating up again, looking forward to the prosperous "Golden September" season.
Various regions are actively promoting the implementation of the housing 'old for new' policy.
Country Garden's 9 bonds are seeking new solutions due to insufficient funds for full payment.
1. Country Garden plans to extend the grace period for the repayment of 9 domestic debts and arrange a new debt restructuring plan. 2. "Under the pressure of overall sales in the industry, combined with factors such as restricted fund allocation, the company has not yet been able to raise sufficient funds for the full payment of principal and interest due on the enterprise bonds."
Proposing a new debt resolution plan? Country Garden responds: Unable to raise sufficient funds for full payment, hoping that investors will give a 6-month grace period.
On September 5th, midday news, according to capital market sources, Country Garden announced plans to extend the grace period for the repayment of 9 domestic debts until March 2025 and is currently developing a new debt resolution plan. In response to this, Country Garden officials stated that the industry is still facing challenges, and the company's sales performance continues to be under pressure due to the weakening market expectations and weak demand. From January to August 2024, the company's total equity sales amounted to approximately 32.8 billion, a year-on-year decrease of approximately 78%. Under the combined pressure of the industry's overall sales and restricted capital allocation, the company has not yet raised sufficient funds to fully repay the principal and interest on the corporate bonds.
The volume of real estate transactions in Hangzhou has fallen, and the second-hand housing market has ended its continuous 5-month high-volume running trend.
According to the data from ke holdings Research Institute in Hangzhou, 6688 second-hand housing units were signed in August in Hangzhou's ten districts, a decrease of 19.8% compared to July, and an increase of 24.6% compared to August last year; compared to July, the transaction volume of intermediary residences in the whole city declined by 21%. In addition, data from China Index Academy shows that in August, the transaction volume of new commodity residences in Hangzhou was 0.4 million square meters, a decrease of 20% month-on-month, and a decrease of 47.3% year-on-year.
Brokerage morning meeting highlights: real estate continues the off-season market, focusing on the "Golden September and Silver October".
At today's brokerage morning meeting, China International Capital Corporation believes that the current market has more bottom features and limited downside risks; China Securities Co., Ltd. is bullish on the Tesla and top humanoid robot industry chain; HTSC suggests that the real estate market will continue the off-season trend and focus on the "golden September and silver October".
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