China - Housing 06 (Nov 21 - Dec 26)

[winston]

Profits dip for state developers

The interim net profits of state-owned China Overseas Land and Investment (0688) and Poly Property (0119), fell 20 percent and 50 percent respectively yearly as residential property sales in China's first-tier cities continued to shrink.

China Overseas said its first-half net profit fell by 19.4 percent year-on-year to 13.5 billion yuan (HK$14.7 billion) as it cut its interim dividend by 12.5 percent to 35 HK cents from the previous year.

Revenue in the first six months declined 14 percent to 89.2 billion yuan from the previous year.

Meanwhile, Poly Property said its net interim profit slumped by 49.6 percent compared to the same period last year to 639 million yuan, with no dividend declared. Revenue fell 16 percent to 15.6 billion yuan.

Residential property sales in China's tier-one cities fell 22.8 percent in terms of floor area since a month ago, according to data from the China Index Academy.

Source: The Standard

https://www.thestandard.com.hk/section- ... developers

[behappyalways]

Things are NOT OKAY in China.

The government is telling banks to cut mortgage rates on existing loans, effective today, for first time buyers.

A step that they last took ... *checks notes* ... during the Great Financial Crisis.
https://twitter.com/Mayhem4Markets/stat ... 0128715071

[behappyalways]

Documentary banned in China exposed!
The economic situation in mainland China is so poor that unfinished buildings are everywhere. The owners have no choice but to move in with huge mortgage loans. Life is difficult without electricity and water. The documentary reveals the miserable housing slaves in China.

中國禁播紀錄片曝光！陸景氣差遍地爛尾樓 業主扛鉅額房貸無奈入住 "沒電沒水"生活克難 紀錄片揭中國悲慘房奴│記者 陳姵如│【國際大現場】20230831│三立新聞台
https://m.youtube.com/watch?v=U0tGx91oNlo


Property remains a hot mess.
https://twitter.com/ChinaBeigeBook/stat ... 9762709626

[behappyalways]

Save the housing market! First-tier cities in Mainland China "acknowledge houses but not loans", Beijing and Shanghai encourage buying momentum
救房市!大陸一線城市「認房不認貸」 京滬催出買氣｜方念華｜FOCUS全球新聞 20230904@tvbsfocus
https://m.youtube.com/watch?v=F5JpKBiw9Hw


Chinese Property Stocks Soar After Latest Beijing Support, Country Garden Debt Deal
https://www.zerohedge.com/markets/chine ... -debt-deal

[behappyalways]

Let life savings flow!
Chinese people want to cry when they buy unfinished buildings.
owners take to the streets to demonstrate and kneel to the mayor to petition the mayor.

畢生積蓄放水流! 中國百姓買到爛尾樓欲哭無淚 業主上街示威向市長下跪請願 爛尾樓紀錄片揭露悲慘房奴現況 上架一天觀看數已破百萬│記者 黃瓊慧│【國際大現場】20230904│三立新聞台

https://m.youtube.com/watch?v=Dc1XtyZn9nM

[behappyalways]

The real estate crisis hits China.
Bloomberg reveals that "there are fewer survivors."
Measures to revitalize the real estate market are coming one after another.
People still dare not buy for 2 reasons.

房產危機襲中國 彭博曝"倖存者減少中" 振興房市措施接二連三 民眾2原因仍不敢買｜非凡財經新聞｜20230905

https://m.youtube.com/watch?v=H2NbpjDn6U8

[behappyalways]

Xi Jinping sits in office and does not go abroad to deal with the biggest crisis in 40 years.
First-tier cities join the housing rescue market.

習近平坐鎮不出國 應對40年來最大危機 一線城市加入救房市 TVBS文茜的世界周報-亞洲版 20230909

https://m.youtube.com/watch?v=z0BbSCNPW3M

[behappyalways]

Mainland China abandons the "housing is for living, not for speculation" policy, and nearly 30 cities have adjusted their purchase restriction policies

中國大陸棄守「房住不炒」 近30城調整限購政策｜方念華｜FOCUS全球新聞 20230912@tvbsfocus

https://m.youtube.com/watch?v=rbQ4tFv9mOA

[behappyalways]

爬21層到家 沒水電瓦斯 陸屋主吼:我要房子 ｜TVBS新聞
https://m.youtube.com/watch?v=G8cKFviqN-A

[behappyalways]

Even China's 1.4 billion population can't fill all its vacant homes, former official says
https://www.channelnewsasia.com/busines ... ys-3793761