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《大行報告》大摩:主要內地發展商1月銷售仍疲弱
摩根士丹利發表研究報告指,1月排名前50名和100名內房發展商的權益銷售額仍然疲弱,按年各下降35%,符合預期。該行相信部分原因是開發新項目減少及基數效應。而根據該行所追蹤的30間企業,1月銷售額按年減幅收窄至39%,而去年12月為48%。 該行表示,國企和半國企的整體表現持續優於大市,1月銷售額較去年同期跌幅溫和。其中,中國海外發展(00688.HK)、越秀地產(00123.HK)和綠城中國(03900.HK)按年分別下跌20%、26%和26%;而合景泰富(01813.HK)、碧桂園(02007.HK)、中駿(01966.HK)和雅居樂(03383.HK)的按年跌幅均超過60%。 該行提到,雖然廣州、上海和蘇州近日放寬限購令,但認為在疲弱的宏觀環境下,基本面影響仍然有限,預計未來幾個月房地產銷售將繼續低迷,按年跌幅或更加嚴重,並繼續認為,透過完成停滯的項目、防止大型發展商進一步違約及提高居民收入,扭轉市民對房價的悲觀預期,才是重振一手樓銷售的關鍵。
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