129784668126147500_151Bohai securities: real estate industry trends investment opportunities are still waiting
Investment: save economic downside risks, sustainable real estate regulatory policy from a macroeconomic and policy environment, in the adjustment of industrial structure and transformation of economic growth mode in an active change, short-term economic growth will slow in China, reducing the inflation pressure of providing space for transfer of monetary policy to fine-tune, but overall is not easy. Restriction of, multiple sets of mortgage real estate regulation of core policies, such as shortHard to change, Government-regulated prices determined to clear. Industry growth will decline, earnings growth of listed companies could decline from industry fundamentals
tera power leveling, real estate investment, new construction and other indicators are in decline, although the end of February to March the market traded usher in a small spring, link a certain growth of transactions, but common stock in listed companies at a high level, huge inventory pressure, public listingSecretary's cautious about investment, new construction, regulatory pressures, price is stifled, historical volumes on promoting real estate investment boom in prices which in turn brought a new round of difficult to appear. Driven by discount promotions just need market sustainability remains to be seen, the markets may continue until April, after a brief recovery the market has entered a new round of wait-and-see. From the listed companiesConditions, cash flow is still tight, financial stress, and end of 09 and 10 high land project gradually entered the clearing cycle
tera gold, decline in gross profit margin of the company will face pressure. Growth in overall trade performance is not optimistic. Reverse does not come
tera gold, maintaining the neutral investment real estate industry ratings taken together, we believe that the trend of real estate investment opportunities have not yetThe arrival, deposit rates might be cut in the future will bring a certain amount of trading opportunities, but in the second quarter of the industry as a whole will remain at the end of oscillation found. Although overall low valuations, but considering the industry slowdown in earnings growth in the future, underestimate value will be the norm. Short-term real estate industry we continue to maintain a neutral rating. Recommended companies since the industry is still going through an adjustment period, with scaleAdvantage, advantage and in accordance with the Government encouraging the first suite of demand of the company is our preferred, recommended company for poly real estate, investment property, shares and first in the South building. Major risk factors for the economy as a whole fall risk.
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