《大行報告》大和:深圳降二套房首付比例 惟仍存限購令等因素 料不足推動具意義的銷售復甦
深圳市自今日(23日)起調整二套住房最低首付款比例。二套住房個人住房貸款最低首付款比例由原來的普通住房70%、非普通住房80%統一調整為40%。大和發表報告表示,認為相關措施不足以推動銷售的有意義復甦,其所追蹤內地城市的新房銷售上周繼續下滑,但二手房銷售保持彈性。
該行表示,對深圳加大政策支持力度提振房屋需求,對此政策措施並不感到意外,因為深圳的住宅市場近年來一直低迷(今年首十個月新房銷售價值按年減10%,較2021年同期下降27%,表現落後於其他三個一線城市)。
大和相信內地更多潛在住屋升級者,尤其是那些努力出售現有房屋的人將會受益。然而,該行在專案考察期間收集到的大量證據,使其相信這些措施不會推動銷售持續復甦,因為深圳換樓升級需求更多集中在限購的核心地區,限購令仍然存在,第二是購屋者在經濟低迷時期不願充分利用槓桿,從而抵銷首付下調的影響,第三是深圳房價大幅下跌,導致買家出現觀望情緒。鄰近的一線城市廣州也受到了短暫的銷售影響,該城市於9月推出了強有力的措施(放寬限購令和放鬆抵押貸款)。從更積極的角度來看,該行注意到內地最近幾週,省份和地方各級政府正加快對內房行業的政策支持,該行認為這突顯了政策制定者越來越擔心行業的動盪演變成一場系統性危機。該行相信這將為近期採取更強有力的措施鋪路。
該行指越秀地產(00123.HK)(予「買入」評級及目標價12.4元)、華潤置地(01109.HK)(予「買入」評級及目標價44.8元)是該行在內房股中的長期選擇,該行建議交易龍湖(00960.HK)(予「買入」評級及目標價26.3元),但亦注意到政策支持的反應正在減弱。
Follow us
Find us on
Facebook,
Twitter ,
Instagram, and
YouTube or frequent updates on all things investing.Have a financial topic you would like to discuss? Head over to the
uSMART Community to share your thoughts and insights about the market! Click the picture below to download and explore uSMART app!

Disclaimers
uSmart Securities Limited (“uSmart”) is based on its internal research and public third party information in preparation of this article. Although uSmart uses its best endeavours to ensure the content of this article is accurate, uSmart does not guarantee the accuracy, timeliness or completeness of the information of this article and is not responsible for any views/opinions/comments in this article. Opinions, forecasts and estimations reflect uSmart’s assessment as of the date of this article and are subject to change. uSmart has no obligation to notify you or anyone of any such changes. You must make independent analysis and judgment on any matters involved in this article. uSmart and any directors, officers, employees or agents of uSmart will not be liable for any loss or damage suffered by any person in reliance on any representation or omission in the content of this article. The content of the article is for reference only and does not constitute any offer, solicitation, recommendation, opinion or guarantee of any securities, virtual assets, financial products or instruments. Regulatory authorities may restrict the trading of virtual asset-related ETFs to only investors who meet specified requirements. Any calculations or images in the article are for illustrative purposes only.
Investment involves risks and the value and income from securities may rise or fall. Past performance is not indicative of future performance. Please carefully consider your personal risk tolerance, and consult independent professional advice if necessary.