概括
[Therealestatesectorsuddenlyraisesthe”limitsofdailyflow”:Isthecentralizedlandsupplyamajorbenefitoristhefund”bigman”increasingpositionsinadvance?】OnFebruary24mediareportedthat22keycitieswouldadoptcentralizedlandsupplywhicharousedtheattentionoftheindustrySomevoicesbelievethatifthecentralizedlandsupplypolicyisimplementeditwillbenefitleadingrealestatecompaniesOntheotherhandthefund’sheavyweightDongChengfei’smeetingminutesflowedoutHebelievedthatthevaluationoftherealestatesectorhadbeenloweredandincreaseditspositioninadvanceOnFebruary25thwhoisdrivingthestockpriceofrealestatestockstorise?
Almost stablereal estateThe plate rarely set off a wave of daily limit on February 25th. In A sharesVanke A、Poly Real EstateWait for stocks to daily limit. H sharesreal estateThe trend of individual stocks is also not lagging behind,KWG GroupThe increase exceeded 23%.
However, in addition to the real estate sectorinvestmentIn addition tomarketIt seems that the industry has not expected such a big show in advance. On February 24, media reported that 22 key cities would adopt a centralized land supply approach, which aroused the attention of the industry. Some voices believe that if the centralized land supply policy is implemented, it will benefit leading real estate companies. on the other hand,fundDong ChengfeimeetingThe minutes flowed out, and it believed that the valuation of the real estate sector wasAdd warehouse. On February 25th, who is pushingReal estate stocksShare price rise?
A-share real estate stocks daily limit
On February 25, after the stock market opened in the morning, a number of real estate stocks in A-shares suddenly set off a “rising limit wave.” A reporter from China Times noticed that after the market closed in the morning,real estateThe sector index rose more than 7%. among them,Special service20% daily limit,Rongan Real Estate、Suning Global、Jiakai CityWaiting for more than 10 real estate stocks also broke the daily limit.
Similarly, among the leading real estate enterprises,Vanke A、Poly Real EstateThese two stocks also have daily limit.It’s worth noting that there are hundreds of billionsMarket valueofVanke AIt is almost the first daily limit in the past 3 years. As of the close on February 25, the A-share real estate sector index rose 3.61%.136 in the plateConstituent stocksAmong them, 127 stocks all rose.
The real estate sector of Hong Kong stocks also saw a significant rise. As of the close of trading on February 25, the overall increase in the sector was 3.74%, which was comparable to the increase in the A-share real estate sector. among them,KWG GroupThe increase reached 23.68%,New Town DevelopmentThe increase was 16.46%,Powerlong Real Estate、Sunac China、Shimao Group、Greentown ChinaThe increase has also exceeded 12%.
Yang Delong, chief economist of Qianhai Kaiyuan Fund, believes that from the perspective of economic fundamentals in 2021, after the epidemic has been effectively controlled in my country, there has been a steady economic recovery, which will affect the listingthe companyProfitable growth forms a positive boost. In terms of the overall performance of the stock market on February 25, the Shanghai and Shenzhen stock markets experienced a shock rebound. As of the close,The Shanghai Composite IndexTo close at 3,585.05 points, an increase of 0.59%;Shenzhen Component IndexIt closed at 14,828.80 points, down 0.28%.
Rising or due to the policy of centralized land supply?
It is worth mentioning that although there are many stocks in the entire real estate sector with a market value of more than 100 billion yuan, the real estate sector has long been mediocre, and it is even rarer for the real estate sector to rise and fall.Take Vanke A as an example. All day on February 25, Vanke A’sTurnover rateReached 2.67%, and funds continue to flow in.
ReplayIn recent major events in the real estate industry, it can be seen that a number of real estate policies are mainly centered on loan control and other aspects, and the main tone is still not housing speculation.At the same time, most recent policies, such as second-hand housing released by ShenzhenDealThe price reference mechanism is also mainly related to the second-hand housing market, and it is difficult to directly affect the stock price trend of real estate companies.
However, on the afternoon of February 24, there were media reports that 22 cities would adjust the pace of land supply.The specific content is that, in accordance with the requirements for stable regulation of residential land classification, 22 key cities have implemented the “two centralization” policy, which is a centralized releaseannouncement, Centrally organize the transfer activities, and the announcement of residential land can not be more than 3 times in 2021.
At present, the reporter of “China Times” learned that the Qingdao Municipal Bureau of Natural Resources and Planning issued a document on February 24 stating that in order to implement the classified regulation of residential land supply by the Ministry of Natural Resources in 2021jobsAccording to the requirements of the meeting and related documents, the “two centralizations” of residential land shall be strictly implemented for the simultaneous public transfer of residential land. The public announcement of residential land will be issued in three batches throughout the year, and the transfer activities will be implemented to guide rational market competition.
It is reported that Qingdao is one of 22 key cities. In addition to Qingdao, there are cities such as Tianjin and Zhengzhou. But as of press time, reporters from China Times have not seen other cities make official announcements about the “two concentrations” policy. If the centralized land supply policy is true, then leading real estate companies with more sufficient capital reserves will have more advantages in acquiring land. Therefore, the real estate sector rose on February 25, and there are voices in the industry that it may be due to the policy of centralized land supply.
Yan Yuejin, research director of the Think Tank Center of E-House Research Institute, believes that the centralized land supply may have pushed up the rise in the real estate sector to a certain extent, but it may not be the main reason.In essence, the centralized land supply policy is actually suppressinglandActs such as driving up land prices in the market. If implemented subsequently, the land premium rate can at least be controlled, and it is not ruled out that the scale of urban land supply will increase, which will benefit real estate stocks to a certain extent.
The industry was previously undervalued?
“China Times” reporter noted that if the policy of centralized land supply is the “small driver” for the rise of real estate stocks, then the fund may be an important driver for the rise of real estate stocks.Power source. Recently, a meeting minutes has flowed out of the market, and the relevant content is related to Dong Chengfei, a heavyweight figure in the fund industry.
Documents flowing out of the market show that Dong Chengfei, the star fund manager of Xingquan Fund, said at the meeting: “The best real estate, Poly and Vanke, in my opinion, are at a higher valuation level.bankThe leader is much lower, no matter from the perspective of PE or PB, so I choose real estate. “
There are voices in the market that Dong Chengfei’s increase in real estate stocks in advance may cause the sector to “emotionally rise.” At the same time, some organizations believe that the current real estate sector is undervalued.Issued by Beijing Capital SecuritiesResearch reportShow that the industry valuation level is at a historically low level.Integrate 2020 full yearReal estate salesAnd the continued high prosperity of investment, the continued resilience of market performance helps to catalyze the gradual restoration of the pessimistic expectations of the medium and long-term industry, and the industry has a bottoming rebound in the current context.
Another point, listed real estate companies will gradually disclose the 2020annual report. Judging from the sales of real estate companies in 2020, the performance of leading real estate companies is still strong, which may bring investor confidence. Yan Yuejin also believes that real estate stocks continue to be optimistic, and the industry space is still large.If the external socioeconomic environmentContinuous improvementIn fact, the demand for potential transactions in the property market will still be released, which is good for the development of real estate stocks.
(Source: China Times)
(Original title: The real estate sector suddenly raises the “limiting tide”: Centralized land supply drives major benefits, or is the fund “big man” increasing positions in advance?)
(Editor in charge: DF512)