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大行評級|大摩:內地降低購房税可能在短期內對房地產銷售提供輕微幫助
摩根士丹利發表研究報吿指,國家財政部昨日(13日)推出一系列有關住房税收減免措施,以降低買賣雙方的交易成本。措施基本符合市場預期,並可能在短期內對房地產銷售提供輕微幫助。該行認為,措施雖然或為買賣雙方減低成本,不過仍未能扭轉居民對樓價審慎的看法。連同居民對加大槓桿的意欲減輕,該行相信上述税項優惠稍微幫助內房銷售,但難以支持一個持續的復甦。大摩提出,地產商幾乎無法從政策中獲益,因為大多數項目的毛利率僅處於十幾個百分比,中海外發展和越秀地產可能會相對受益更多,反之認為一線城市的二手房代理機構可能是住房升級需求增強的主要受益者。
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