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丨wednesday, september 18, 2024丨

NO.1 in the first eight months, the sales volume of newly built commercial housing in china reached nearly 6 trillion yuan

on september 14, according to data from the national bureau of statistics, from january to august this year, the national real estate development investment was 692.84 billion yuan, a year-on-year decrease of 10.2% (calculated on a comparable basis); among them, residential investment was 526.27 billion yuan, a decrease of 10.5%. the housing construction area of ​​real estate development enterprises was 709.42 million square meters, a year-on-year decrease of 12.0%. the newly started housing area was 494.65 million square meters, a decrease of 22.5%. the completed housing area was 333.94 million square meters, a decrease of 23.6%. the sales area of ​​new commercial housing was 606.02 million square meters, a year-on-year decrease of 18.0%, among which the residential sales area decreased by 20.4%. the sales of new commercial housing was 597.23 billion yuan, a decrease of 23.6%, among which the residential sales decreased by 25.0%.

comments:the national real estate development investment fell by 10.2%, reflecting the tight market confidence and capital chain. the year-on-year decline in various building area indicators further highlights the contraction challenges faced by the industry. this shows that the real estate market is undergoing a deep adjustment and it is difficult to pick up in the short term. developers are in urgent need of transformation and finding new business growth points.

NO.2 taiyuan cancels restrictions on purchase and transfer of commercial housing

the shanxi provincial department of housing and urban-rural development and seven other departments recently issued "several measures for further promoting the stable and healthy development of the real estate market in shanxi province", including canceling the commercial housing purchase restriction policy in taiyuan city, canceling the transfer restriction period for various types of commercial housing, canceling the standards for ordinary residential and non-ordinary residential houses, vigorously supporting the improved housing needs of families with many children, implementing personal housing credit policies, increasing support for housing provident funds, supporting the implementation of housing "old for new" activities, and actively organizing real estate promotion activities. 17 measures; the measures will take effect on september 5, 2024 and will be valid for 3 years.

comments:taiyuan has cancelled restrictions on the purchase and transfer of commodity housing, aiming to stimulate sales and revitalize the stock market, which may lead to an increase in transaction volume in the short term. however, such measures have been proven to bring only short-term dividends in many places across the country, and the long-term effects remain to be seen. more importantly, it is necessary to solve the imbalance between supply and demand and the confidence of home buyers.

NO.3 hong kong's second-hand residential registrations fell 2.6% year-on-year in the first eight months

according to news on september 14, the number of second-hand residential registrations in hong kong in the first eight months of this year was 27,168, down about 2.6% year-on-year. wang pindi, director of the hong kong property research department, pointed out that data showed that the number of residential registrations of 5 million yuan or less increased by 31.2% year-on-year to 14,603, while the number of residential registrations of more than 5 million yuan to 10 million yuan decreased by 27% to 9,373. in addition, the number of residential registrations of more than 10 million yuan decreased by 18.8% to 3,192.

comments:in the first eight months of this year, the number of second-hand residential property registrations in hong kong fell by 2.6%. the number of low-priced residential property registrations increased, while the number of high-priced residential property registrations dropped significantly, indicating a significant stratification of market purchasing power. the weakness of the high-priced residential market is closely related to the overall economic environment, interest rate levels and market expectations. the future trend still needs to focus on policies and economic trends.

NO.4 hearing of hong yang real estate's winding-up petition postponed to march 31 next year

on september 16, hongyang real estate issued an insider information announcement, announcing the latest progress on the liquidation petition. according to the announcement, hongyang real estate issued announcements on the relevant liquidation petition on february 16, 2024 and march 13, 2024. this update shows that the high court has approved the application for extension jointly filed by bank of new york mellon london branch (petitioner) and hongyang real estate on september 16, 2024. therefore, the hearing of the liquidation petition has been postponed to march 31, 2025. hongyang real estate stated that it will continue to advance the restructuring work in an orderly manner to reach a consensus among all parties.

comments:the hearing of the liquidation of hongyang real estate has been postponed to 2025. although it has bought time for the company to restructure, it also shows that its internal debt and capital pressures continue. how to promote restructuring in an orderly manner and reach a consensus among creditors is the key to the company's return to normal operations, but this also depends on its future business strategy and market environment. whether the company's debt problem can be properly resolved is still full of uncertainty.

NO.5 xu jiayin's 34.8 square meter house in hong kong will be auctioned to pay off debts

on september 17, china evergrande was ordered to be liquidated. the hong kong high court ruled that evergrande founder xu jiayin had to repay more than 5.3 billion yuan in debt to hexin hengju, a subsidiary of citic group, otherwise he had to sell the property under his name to repay the debt according to the absolute charge order. hexin hengju later appealed, requiring xu jiayin to hand over the vacant property in tsim sha tsui he held and sell it under the court's instructions. the case has been heard in the high court. the court approved the execution of the charge order in the absence of xu jiayin's party. after the property is sold at auction, it will be used to repay part of the debt. the property involved is room a on the 6th floor of xiangjing building, 144 austin road, kowloon, with an area of ​​about 34.8 square meters. it was purchased by xu jiayin for hk$1.75 million 25 years ago after he made his first pot of gold in the real estate business in his early years. the current market price of the property is hk$4.96 million.

comments:xu jiayin was forced to sell off his hong kong property to repay debts, reflecting the serious problem of china evergrande group's broken capital chain. the personal financial difficulties of senior leaders have further deteriorated the company's credit. the solution to evergrande's overall debt problem is still full of uncertainty, which has a significant negative impact on the real estate market and related investor confidence.

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