The Report is produced in Chinese only.
關於”優化2015年住房及用地供應結構促進房地産市場平穩健康發展的通知”的解讀 在本次國土資源部、住建部的聯合發文中有亮點值得重點關注:1、對住房供應明顯偏多的市、縣,或在建住宅用地規模過大的市、縣,應減少住宅用地供應量直至暫停計劃供應;住房供求矛盾較突出的熱點城市,應根據市場實際情況有效增加住宅用地供應規模;2、整體購買在建房地産專案用於棚改安置房和公共租賃住房,或將尚未開工建設的房地産用地轉爲棚改安置房和公共租賃住房用地的,允許其適當調整規劃建設條件,優化戶型結構,並完善配套用地手續。 這兩點的政策指向非常清楚,第一點是針對相當數量的二、三線城市的供應過剩問題開刀,減少樓市供應,消化存量,對於在建或未建的地產專案減少供應衝擊,有助於穩定房價和樓市。而第二點則是直接給眾多地產商帶來利好,打通了商品房和福利房之間的鴻溝,客觀上為開發商的投資保底。可以預見的是,未來將有為數不少的商品房將用於福利房,直接緩解地產商的現金流危機。 而第二點政策也有受害者,即原有一直從事福利房開發的企業,其中以中國建築國際(3311.HK)為代表。最近兩周中國建築國際股價持續下跌,我們相信是市場有SMART MONEY嗅到政策動向,提前拋售或者沽空所致。 |
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