The funds in place for real estate companies fell by 8% year-on-year: the decline in deposits and prepayments expanded to 10.5%
Recently, the National Bureau of Statistics released the latest real estate industry data, showing that the funds in place for real estate companies fell by 8% year-on-year, with the decline in deposits and prepayments widening to 10.5%. This data has aroused widespread attention from the market on the pressure on the capital chain of the real estate industry. The following are related topics and structured data analysis that have been hotly discussed across the Internet in the past 10 days.
1. Analysis of the funds in real estate companies
According to data from the National Bureau of Statistics, from January to October 2023, the funds in place for real estate development companies fell by 8% year-on-year, an increase of 0.5 percentage points from the previous nine months. Among them, the decline in deposits and prepayments has expanded significantly, reflecting the lack of confidence among home buyers and weak market demand.
| Funding category | Year-on-year changes | Changes from the previous 9 months |
|---|---|---|
| Domestic loans | -11.5% | -0.8% |
| Utilize foreign capital | -36.2% | -5.3% |
| Self-raised funds | -5.3% | -0.4% |
| Deposit and advance payment | -10.5% | -1.2% |
| Personal mortgage loan | -7.6% | -0.9% |
2. Hot topics in the market
1.The pressure on real estate companies' capital chains has intensified: As funds in place continue to decline, some real estate companies are facing liquidity crisis, and the market is worried that industry risks may further spread.
2.Home buyers are in a strong mood to wait and see: The sharp decline in deposits and prepayments reflects the increased expectations of home buyers for falling housing prices, resulting in a shrinking transaction volume.
3.Expectations of loose policy are rising: The market generally expects that the government may introduce more supportive policies, including reducing the down payment ratio and relaxing purchase restrictions to stabilize the real estate market.
4.Real estate companies have limited financing channels: Both the decline in domestic loans and the utilization of foreign capital shows that the financing environment for real estate companies is still severe.
3. Regional differentiation is obvious
Data shows that the performance of real estate markets in different regions is significantly different. First-tier cities are relatively stable, while third- and fourth-tier cities are facing greater pressure. The following is a comparison of data from some key cities:
| City Type | Prices of newly built commercial housing are up to date | Second-hand residential prices |
|---|---|---|
| First-tier cities | -0.3% | -0.8% |
| Second-tier cities | -0.5% | -0.9% |
| Third- and fourth-tier cities | -0.7% | -1.1% |
4. Future prospects of the industry
1.Still facing pressure in the short term: In the case where residents' income expectations have not improved significantly and housing prices have not reversed expectations, the real estate market may continue to be under pressure.
2.Policy support may be increased: Recently, many cities have introduced support policies, and more cities are expected to follow up in the future, and the policy toolbox may be further enriched.
3.Industry integration accelerates: Financial pressure will prompt the industry to accelerate reshuffle, and the market share of leading real estate companies with stable finances is expected to increase.
4.Changing long-term development model: The real estate industry will gradually shift from a high leverage and high turnover model to a high-quality development model, and pay more attention to product quality and services.
5. Expert opinion
Many experts said that the current real estate market is still in a period of adjustment and policies need to continue to make efforts to stabilize expectations. At the same time, real estate companies should actively adjust their business strategies, accelerate inventory destocking, and optimize their debt structure to cope with market changes.
Experts from the China Real Estate Association pointed out: "The funds in place for real estate companies continue to decline, especially the accelerated decline in deposits and prepayments, reflecting the problem of insufficient market confidence. It is recommended that local governments implement policies based on the city, and while adhering to the positioning of "housing for living, not for speculation", they should implement policies accurately and stabilize the market."
Experts from the National Finance and Development Laboratory believe: "The current adjustment of the real estate market is the result of the joint action of multiple factors, including slowing economic growth and population structure changes. It is expected that the adjustment period will continue for a period of time, but there will be no systemic risks."
Overall, the capital market of real estate companies continues to be under pressure, and market adjustments continue. Future policy trends and market performance deserve continuous attention.
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