The first quarter performance of 100 housing enterprises year-on-year “cut in half”, nearly 70% did not take land

2022-06-17 0 By

China Housing Network news (Yachen/article) In March, the real estate market as a whole is still in a downturn.According to a recent report released by Creary Research Center, the transaction area of commercial housing in 30 cities monitored by creary rose 48% in March from the previous month, and the year-on-year decline widened to 47%.As for the land market, some hot cities started the first round of centralized land supply, the land market remained low in March.Enterprises still remain cautious to take the situation, as of the end of March 100 housing enterprises only 30% of the enterprises to take the land.More than 8 hundreds of strong housing enterprises cumulative performance year-on-year reduction in particular, the first-tier city market in terms of transaction silence.The transaction area was 2 million square meters, a slight increase of 7% from the previous month, a year-on-year decrease of 49%, and a cumulative year-on-year decrease of 37%.Due to repeated epidemic prevention and control, the real estate market in Shanghai and Shenzhen is in a state of “semi-shutdown”, and the year-on-year decline in transaction volume has significantly expanded.Beijing, Guangzhou also less than expected, in March, the middle of the market performance is weak, the average rate of new opening projects down to 30%.26 second – and third-tier cities in the market showed signs of weakness, the overall transaction area of 14.81 million square meters, a sequential growth of 56%, 46% year-on-year decline.Due to the high base of the same period last year, the domestic epidemic rebounded, and more than 60% of the second – and third-tier cities saw their transactions cut by half compared with the same period last year. Only some cities with better epidemic control saw their markets bottoming and stabilizing.As downward pressure on the real estate industry continued, the year-on-year decline in corporate sales was further expanded compared with January and February.According to CRR monitoring, in March the top 100 real estate enterprises only realized the sales amount of 511.54 billion yuan in a single month, up 27.4% from the previous month, the growth rate is significantly lower than the same period in previous years;The year-on-year decline was 52.7%, 5.5 percentage points higher than that in February;Compared with January, the sales volume decreased by 2.6 percent.In terms of cumulative performance, the overall performance scale of the top 100 housing enterprises in January-March was significantly reduced by 47% year-on-year.Similarly, the first quarter started off badly below the same period in 2020.Overall, most of the scale of housing sales performance is poor.The report shows that in the first quarter, there are more than 80% of the cumulative performance of the top 100 housing enterprises decreased compared with the same period last year, of which nearly 40% of the enterprises fell more than 50%.Crerui research Center analysis believes that, on the one hand, it is affected by the market downturn, lack of confidence in the industry, on the other hand, the enterprise’s own push plate and marketing enthusiasm is generally not high.In the second and third quarters, enterprises need to step up supply and marketing actively to improve the level of removal rate as much as possible.Only 30% of the top 100 housing enterprises to take the land enterprises to take the land, even if the first quarter of some cities concentrated for the land has a certain heat, but the overall stimulus for investment is still limited.According to Kreis monitoring, from January to March, the threshold of newly added value of the top 100 was only 1.97 billion yuan, down 46% year on year.The threshold of investment amount and construction area of top 100 were 540 million yuan and 167,000 square meters respectively, down 50% and 41% year-on-year respectively.In the case of the overall investment slowdown, the concentration of the value of new goods did not fall but rose, it can be seen that currently only the head housing enterprises in the core city to take land.According to the report, by the end of March, China Resources, China Shipping, China Communications, China Construction and Development, Vanke and Greentown added more than 20 billion yuan in value, and the value of the top 10 real estate enterprises accounted for 60% of the total value of the top 100, a significant increase of 25 percentage points compared with the whole year of 2021.It is worth noting that the overall land-purchase sales ratio of the top 100 real estate enterprises from January to March was as low as 0.1, down 0.1 from the same period in 2021. Among them, the top 10 real estate enterprises have the highest investment enthusiasm, only 0.14, and the attitude of cautious investment is still continuing.Although a number of cities started the first round of centralized land supply in 2020 in March, only a small number of leading real estate enterprises took up the land, and the amount of land purchased by the TOP50 real estate enterprises in a single month was less than 40 billion yuan, down 84% and 28% respectively from the same month.The first two months with more green city, Binjiang, China Resources and other investment slowed down.But overall, cautious attitudes have not improved.On the one hand, nearly 70% of the top 100 housing enterprises still do not take land, more than half of the enterprises from the project developers;On the other hand, among the enterprises with high land acquisition amount, only You and Weixing had a land acquisition sales ratio higher than 1, greentown, C&D and China Resources had a land acquisition sales ratio higher than 0.3, and the rest had a land acquisition sales ratio lower than 0.2, lower than the mean of 0.25 last year, indicating a cautious trend.It is worth noting that in the current industry risks have not been cleared, there are still corporate debt defaults and thunderstorms, financial institutions are more cautious in lending in the first quarter, the overall financing has not picked up significantly, most enterprises continue to liquidity pressure.According to krei statistics, the financing scale of 100 typical real estate enterprises in the industry in the first quarter dropped by 52.5% year on year, especially from February to March, overseas financing was almost “stagnant”.Since 2022, about 75% of real estate enterprises have seen their financing scale decrease year-on-year, and nearly 40% of them have seen a year-on-year decrease of more than 50%.On the whole, it will take some time for the current policy recovery to be transmitted to the ground. In the short term, the overall financing scale of large-scale real estate enterprises will remain low, and enterprises should continue to be cautious and guard against credit and liquidity risks.In the meantime, it is necessary to actively grasp financing opportunities and try in many aspects, such as merger and acquisition financing and affordable rental housing REITs.Cree research center is expected, the bottom of the market or will come in the second quarter, when the transaction or will build a bottom to stabilize, year-on-year decline will also be narrowed.However, based on the economic fundamentals of the city, the real estate market, the potential purchase demand and residents’ purchasing power and other factors, the various urban markets may intensify differentiation.