China - Housing 05 (Jul 16 - Oct 21)

Re: China - Housing 05 (Jul 16 - Dec 17)

Postby winston » Sun Nov 12, 2017 2:17 pm

China Properties : Correction in 1H 2018 ?
i) Various new curbs in more than 25 cities
ii) In Xiamen, 100 years to recover investment thru rentals; In SZ, it's 68 years
iii) Rental yields in all first-tier cities < 2%; 9 second-tier cities joined them
iv) Avg new home prices in 70 major cities +10.2% (Jun) vs +10.4% (May)
v) Big 4 Banks (50% of mortgages) lending 90% of new mortgages to first time buyers
vi) Momentum in Wenzhou, Ningbo, Shenyang, Beihai, Chongqing and Dalian
vii) Cooling measures in Chongqing, Nanning, Nanchang, Changsha and Xian
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
User avatar
winston
Billionaire Boss
 
Posts: 118528
Joined: Wed May 07, 2008 9:28 am

Re: China - Housing 05 (Jul 16 - Dec 17)

Postby winston » Wed Nov 15, 2017 8:37 am

China hints at easing property cooling measures

by Janice Huang

China showed signs of relaxing cooling measures in the property market as it allowed companies to have refinancing while the economy cooled further last month, with industrial output, fixed asset investment and retail sales missing expectations as the government extended a crackdown on debt risks and factory pollution.

Beijing is already in the second year of a campaign to reduce high levels of debt as authorities worry that riskier lending practices, especially in the real estate sector, could imperil the economy.

In the property sector, China's October property sales and new construction starts fell in October as the property market cooled from a two-year boom in the face of a tighter liquidity environment and a crackdown on riskier lending.

Real estate investment growth also cooled in October, in line with expectations, as the government seeks a soft landing for the property sector amid a gradual slowdown in the economy.

Property sales by floor area fell by 6 percent in October from a year earlier, compared with a 1.5 percent decline in September, according to Reuters calculations. The decline was the biggest since the first two months of 2015.

"[That decline] is exactly what the government is looking for," said Jonas Short, head of investment bank Sun Hung Kai Financial's Beijing office.

Sales by value fell by 1.7 percent on- year in October.

Source: The Standard

http://www.thestandard.com.hk/section-n ... 9631&sid=2
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
User avatar
winston
Billionaire Boss
 
Posts: 118528
Joined: Wed May 07, 2008 9:28 am

Re: China - Housing 05 (Jul 16 - Dec 17)

Postby winston » Fri Nov 17, 2017 7:43 am

China mulls taxing property sector

by Tracy Hu

A property tax may be introduced in China in the near future as the government attempts to reduce a worrisome build-up of debt in the economy.

Huang Qifan, deputy chairman of the economic and finance committee under the National People's Congress, said yesterday that a property tax could be introduced in the next few years, and it will help temper speculation in a sector that has drawn a raft of government curbs in the past year.

He also said that the ratio of China's financial sector to the overall economy "is the highest in the world," which he described as "not a good thing."

Meanwhile, China's non-financial outbound direct investment between January and October slumped 40.9 percent year-on-year to US$86.31 billion (HK$673.22 billion), the Ministry of Commerce said yesterday.

Source: The Standard

http://www.thestandard.com.hk/section-n ... 1117&sid=2
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
User avatar
winston
Billionaire Boss
 
Posts: 118528
Joined: Wed May 07, 2008 9:28 am

Re: China - Housing 05 (Jul 16 - Dec 17)

Postby winston » Fri Nov 24, 2017 8:07 am

Shanghai adds land supply for 20,000 rental homes to bring property prices under control

The city plans to supply 700,000 rental homes from 2016 to 2020

Source: SCMP

http://www.scmp.com/property/hong-kong- ... ment-bring
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
User avatar
winston
Billionaire Boss
 
Posts: 118528
Joined: Wed May 07, 2008 9:28 am

Re: China - Housing 05 (Jul 16 - Dec 17)

Postby winston » Fri Nov 24, 2017 8:14 am

Limited upside in China’s 2018 home prices as banks keep mortgages, loans on short leash

Source: SCMP

http://www.scmp.com/property/hong-kong- ... -mortgages
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
User avatar
winston
Billionaire Boss
 
Posts: 118528
Joined: Wed May 07, 2008 9:28 am

Re: China - Housing 05 (Jul 16 - Dec 17)

Postby winston » Mon Dec 18, 2017 10:13 pm

Chinese new home prices continued to cool in November

Shanghai and Beijing saw flat home price rises compared with October, while Shenzhen dropped 0.2 per cent

President Xi Jinping used his keynote speech at the twice-a-decade Communist Party Congress in October to remind buyers homes are meant “to be inhabited, not for speculation”.


Source: SCMP

http://www.scmp.com/business/china-busi ... l-november
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
User avatar
winston
Billionaire Boss
 
Posts: 118528
Joined: Wed May 07, 2008 9:28 am

Re: China - Housing 05 (Jul 16 - Dec 17)

Postby winston » Mon Jan 08, 2018 1:08 pm

<Research Report>Citi: 8 Mainland Cities Adjust Property Policies, Heating Up CN Developers

Citigroup, in its report, said that Central Economic Work Conference (CEWC) proposed that local
governments should have more rights to determine their own city-specific policy and eight cities have unveiled direct or indirect relaxation property policy at different extent, in which Wuhan, Nanjing, Zhengzhou, Changsha loosened the home purchase restrictions for talent while Hefei loosened price control.

Citigroup said that such policies placed rally sentiments for Chinese property stocks but would not be overly optimistic for the move.

Vitally, the broker believed whether the listed developers will continue to deliver over 30% sales growth in 2018 will be a crux instead.

It is projected that loosening property policies and 1Q sales performance will continue to heat up the segment till March 2018. The broker continued to hold an upbeat view on large names with certain growth outlook and lower leverage.

Top picks were COUNTRY GARDEN (02007.HK), CHINA VANKE (02202.HK), LONGFOR PPT (00960.HK), CIFI HOLD GP (00884.HK), KWG PROPERTY (01813.HK), CHINA JINMAO (00817.HK) and SHIMAO PROPERTY (00813.HK).

Source: AAStocks Financial News
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
User avatar
winston
Billionaire Boss
 
Posts: 118528
Joined: Wed May 07, 2008 9:28 am

Re: China - Housing 05 (Jul 16 - Dec 18)

Postby winston » Thu Feb 01, 2018 3:40 pm

<Research Report>Citi Expects Recent Uptrend of CN Developers to Sustain in 1Q; Top Picks CHINA VANKE, COUNTRY GARDEN

Citigroup, in its report, said 32 Chinese property developers tracked by the research house posted yearly sales growth of 53% in January 2018, pursuant to third party agent material.

Citigroup said locomotive continued to show strength, such as COUNTRY GARDEN (02007.HK), CHINA VANKE (02202.HK) and EVERGRANDE (03333.HK) (all sales over RMB60 billion); and LONGFOR PPT (00960.HK) and CHINA JINMAO (00817.HK).

But GREENTOWN CHINA(03900.HK) and SINO-OCEAN GP (03377.HK) were rather weak.

The research house anticipated the recent uptrend of Chinese property developers will be sustain into 1Q until more uncertainties come up in 2Q.

Citigroup's top picks were: CHINA VANKE, COUNTRY GARDEN, LONGFOR PPT, CIFI HOLD GP (00884.HK), KWG PROPERTY (01813.HK), CHINA JINMAO, SHIMAO PROPERTY (00813.HK) and CHINA RES LAND (01109.HK).

Source: AAStocks Financial News
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
User avatar
winston
Billionaire Boss
 
Posts: 118528
Joined: Wed May 07, 2008 9:28 am

Re: China - Housing 05 (Jul 16 - Dec 18)

Postby winston » Wed Feb 07, 2018 8:55 am

Chinese property developers’ stocks could gain as much as 40 per cent this year, Nomura says

Increased profitability and market share are behind the possible gains for companies like China Vanke and Evergrande, even though overall sales could fall, the investment bank says

National sales volume is expected to fall 5 per cent this year, but big developers can weather sales falls more easily because they can tap bank loans and capital market.

Normally we say an 8 to 10 times P/E is a reasonable range [for Chinese property developers]. But if there is ample liquidity even 12 to 15 times P/E is not surprising.

While stocks like Agile, Cifi and KWG Property have further room to gain, a few such as Sunac and Country Garden may have become too expensive.


Source: SCMP

http://www.scmp.com/business/money/mark ... -gain-much
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
User avatar
winston
Billionaire Boss
 
Posts: 118528
Joined: Wed May 07, 2008 9:28 am

Re: China - Housing 05 (Jul 16 - Dec 18)

Postby winston » Thu Mar 15, 2018 10:43 am

China Property: Positioning before results season

We believe that another round of re-rating for Chinese developers could be on the cards as we head into the full-year results season.

Firmer sales guidance and earnings assumptions by the street should force valuations back into focus, as the market shrugs off the jitters caused by the fear of earlier-than-expected implementation of the widely-speculated property tax.

Two recent developments have been encouraging to the above thesis.

First, February 2018 contracted sales by Chinese developers have been brisk, with those in our peer set registering a 29.8% YoY increase. This growth came even though Lunar New Year was in February this year, which typically creates a dampening effect on sales.

KWG Property witnessed significant growth of 160.9% YoY, while China Evergrande and Longfor Properties grew 54.2% and 19.7% YoY, respectively.

Secondly, recent speeches by officials in Hong Kong and Mainland China have reaffirmed the strong development potential of the Greater Bay Area, which should be highly supportive of prices and positive for developers with sizeable exposure in that region.

Source: OCBC
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
User avatar
winston
Billionaire Boss
 
Posts: 118528
Joined: Wed May 07, 2008 9:28 am

PreviousNext

Return to Archives

Who is online

Users browsing this forum: No registered users and 11 guests

cron