花旗:內房首選融創(1918.HK)、世房(0813.HK)等六股
花旗發表研究報告指,內地國慶假期前六日(10月1-6日),14個主要城市住房交易量按年下跌22%,由於去年同期基數較高,該行認為表現已經令人滿意,以及好過預期,僅比2017年水平低4%。
該行指,一、二線城市表現參差,深圳按年升85%,蘇州升35%,但北京跌75%,上海跌95%,寧波跌50%,武漢跌28%,表現較弱。三線城市黃金週銷情反而按年升19%,主要受揚州及温州帶動,不過東莞表現則不佳。該行認為是受到回鄉購房需求及靈活定價的銷售活動(3-5%調整)所支持。
花旗指,在住宅市場銷售樂觀以及減息前景下,具抗週期能力的公司毛利率將受到支持,令跑贏大市的企業估值溢價進一步擴大,行業中,首選世房(0813.HK)
、龍光(3380.HK)
、龍湖(0960.HK)
、潤地(1109.HK)
、融創(1918.HK)
及美的置業(3990.HK)
。
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