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《大行報告》大和:鄭州要求30天內爛尾樓全復工 料提振購房者信心 若有效或其他城市仿效
內房股今日股價彈高,碧桂園(02007.HK)股價搶高14.1%,旭輝(00884.HK)彈10.1%,華潤置地(01109.HK)揚5.1%。大和發表報告表示,就河南省鄭州市要求30天內確保全市停工樓盤全面復工,該行認為此對內地房地產的買家釋出正面信號,顯示當局正大力度確保項目交付,根據相關通知,當地政府要求資金緊張的開發商將其符合條件的資產質押給地方政府融資平台,以獲得專項貸款以完成項目建設。 鄭州市政府要求銀行和救助基金準備好為開發商提供救濟,同時各區的任務是處理本轄區內的停滯項目,目標是在10月6日之前恢復鄭州所有暫停項目的建設。在該行看來,鄭州的政府參與程度是前所未有的,表明了當地政府在10月底的中共召開「二十大」之前解決問題的決心,並認為此舉向購房者發出了積極信號,並有助於恢復對房地產市場的信心。該行料到鄭州市措施若證明有效,估計其他內地城市可能會採用相近的有力措施。 但大和亦指但這對資金緊張的內房開發商來說可能是個壞消息,雖然上述施可能使購房者受益,但料大部分成本可能由開發商承擔。根據通知,鄭州要求開發商盡一切可能確保項目交付,包括通過處置未售出的單位、地皮和股權籌集資金。該行了解到,已陷入困境的內房開發商今年一直在以50至70%的大幅折扣出售其資產,如果鄭州的相關活動在全國範圍內擴大,陷入困境的開發商被迫以更大幅折扣出售資產,該行認為或會令開發商的股東和債權人將處於不利地位。 大和表示繼續建議投資者關注財力雄厚的內房開發商,例如華潤置地和龍湖(00960.HK)。
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