《大行報告》大和:內房自4月以來銷售放緩 越秀地產和潤地屬防禦性選擇
大和發表研究報告指,內地房屋銷售自4月起放緩,新盤數量減少,但庫存仍處於高位。於今年首四個月一線、二線、三/四線城市新屋銷售量分別按年各增長34%、20%和29%,二線城市銷售表現分化較大。年初至今整體土地銷售疲軟,由於憂慮新樓無法交付、優質學區對二手項目的高需求等原因,二手市場在4月亦有所放緩,但總體上比一手市場更具彈性。
該行預計,內地全年房屋銷售將略為增長,但料建築開工和房地產投資下降,又預計行業的政策支持力度將會加大,一、二線城市或會出現政策差異化。報告提到,可能的政策包括降低抵押貸款首付款和利率、放寬或取消購房限制以及降低稅收。
該行認為,料財務狀況良好的民營企業開發商龍湖(00960.HK)將受惠於政策支持,而越秀地產(00123.HK)和華潤置地(01109.HK)則屬防禦性選擇。
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