The policy situation speaking of the realtor is becoming more and more stern.Development loan, Fang Dai, capital market, even just only then the trust product which is taken by the realtor, this all capital source channel, all in gradually closes the front door to the realtor.“Pinched the bank credit, was equal to pinched realtor's throat”, once had the professional to say.Obviously, the recent a series of policy trend indicated that, the bank is tightening gradually places on the realtor nape of the neck “two hands”.
compares 2007 year's end in view of the real estate market credit regulation policy, 2010 policy has used more strengths, even includes the limit real estate enterprise which before this never involves taking advantage of shell going on the market, as well as last year only then started with the realtor more intimate contact trust.Perhaps, looked like in the correlation supervising and managing department that, in 2009 the real estate market ultra anticipated rise has brought a more abundant fund to the developer, therefore, also the need wide range limits the realtor to obtain the fund the channel, otherwise with difficulty will make the real estate market the macroeconomic regulation and control true effectiveness.
in fact, in 2009 the national real estate market turnover and becomes pays for sets the record of historical new high, massive investment congenial demand entering the market, market itself has had certain superheat phenomenon, even has overdrawn the part 2010 demand.According to market operating law, even if other external conditions are invariable, the real estate market carries on the adjustment this year, also is reasonable and essential.
the domestic A market is closing the front door to the realtor.A IPO again opens last year until now, in the realtor constructed [4.25 besides China -1.16%] (601668.SH), but also did not have one through the IPO examination and approval.But was recently tightening the real estate company about the correlation supervising and managing department taking advantage of the shell going on the market examination and approval news, speaking of these wills in the debarkation capital market financing real estate company, without doubt was one misfortune after another.
in fact, gradually is closing except A front door, most receives the Hong Kong capital market which welcome, also proposed to inland realtors the more and more high request, in particular the more and more low market profit, as well as beyond the border the investor more and more harsh investment agreement, all causes inland the realtor can not but face possibly the quilt “sells cheap” the risk.In 2010, the realtor's road of capital market again will perhaps turn over to difficultly.
real estate chamber of commerce otherwise by capital market abandonment?
in 2009 A IPO opens again the news once let many hopes land A real estate company to see the hope.Finally constructs besides Yang business China, a principal work has not obtained IPO for the property development company the authorization.Still with difficulty walked road of in the IPO in the situation which passed, many real estate company tried another method, performs several waves to borrow shell going on the market the high tide.
actually, starts from 2007, A market enters the development to borrow after consultation shell going on the market the peak time.The preliminary statistical demonstration, from from November, 2007 to the end of last year, the Shanghai deep two cities had 73 real estate service spoon-feeding reorganization case, involved 44 ST Corporation.
in 2009, the multi-ancestor real estate enterprise also quite receives taking advantage of the shell event pays attention.For example the Chongqing gold branch group borrows east shell ST the source [14.83 -1.13%] (000656.SZ); The Chongqing prosperous Xin group 2,600,000,000 purchases results in Henry taking advantage of shell ST [10.37 0.97%] (600699.SH); As well as the Hainan Province navigation sets industry by 420,000,000 Yuan cashes, carries on to its entire capital subsidiary company newborn real estate investment company increases the capital, and controls stock ST to build the letter [12.21 0.00%] (600515.SH) and so on.But
opens again in the country to the real estate macroeconomic regulation and control background under, the real estate company borrows the shell going on the market already prosperity no longer.The information which disclosed looked from at present that, the correlation supervises and manages the department to borrow shell going on the market the real estate enterprise to have the explicit restrictive direction.Shanghai easy to occupy the real estate research institute analyst to return constructs the strong expression, in fact, [0.00 0.00%] (000002.SZ) and guarantees the advantage real estate besides Wan Kea [20.20 -1.94%] (600048.SH) and so on minority Fang Qi is through IPO way going on the market, the majority of real estate enterprise all is through borrows the shell the way debarkation capital market, if the supervising and managing department strict control real estate enterprise taking advantage of shell going on the market, can produce without doubt to the profession affects greatly.
also has the analyst to believe, if the supervising and managing department real enhancement real estate enterprise taking advantage of the shell going on the market threshold, has been able to purchase the land to the developer investment confidence the confidence to form certain suppression in particular, thus can prevent to a certain extent the developer high price will take, and urges the developer to speed up the existing land development, speeds up the goods in stock turnover.
is not merely A, by last year inland realtor in the Hong Kong IPO experience, the Hong Kong capital market was also unable like in 2007 such to become inland realtor again “the paradise”.Two degrees went to the port to go on the market last year the successful permanent large estate [3.03 -1.30%] (03333.HK) to end last year inland real estate enterprise to go on the market the first day in the port broken to send “the nightmare”, but this was trades by the only 5 time of market profit releases.Before then, as soon as many are going on the market the first day in port going on the market inland Fang Qijun broken to send, causes the investor the enthusiasm to fall to inland Fang Qi new stock Shen Gou falls again.beyond the border
, last year inland unceasingly has not obviously let the investor to the good real estate market sale scene have the confidence to inland Fang Qigeng beyond the border, but perhaps in 2010 in the anticipated in real estate market adjustment, aggravated the investor to inland Fang Qi future prospects for development worrying.Therefore, plans this year goes to Hong Kong IPO inland room business, perhaps all must complete such preparation, when as ever large estate going on the market, company President Xu Jiayin said: “Too cheap, sells very much grievedly.”
the developer started “Guang Jiliang”
the fund channel to reduce gradually, made some “sensitively” the developer starts to consider the future the fund question, and will be enriching own the wallet carefully “”.
on January 22, went on the market in Hong Kong still is insufficient for 3 month-long the permanent large estates to announce the announcement release reached 750,000,000 US dollar, the interest rate much reaches as high as 13% high interest-bearing loan, becomes this year inland the first list which shop facing the street business financed again on the port.Also no matter sends the debt specified amount or the interest level, all set the record of in Fang Gu to send the debt the new record.Not only that, distributes a high interest-bearing loan week after the announcement, the permanent large estate issues the announcement, called its holding shareholder was the Xin Xin company and labor silver Asia which group President Xu Jiayin the entire capital had [18.88 -1.05%] has signed the stock mortgage agreement, through mortgaged 270,000,000 permanent great stocks to obtain 40,000,000 US dollar 2 year time loans.
regarding the so frequent again financing behavior, the permanent large estate related person in charge indicated, because the company “the fund is by no means intense”, the company surpassed up to the end of last year cash cash 10,000,000,000.As for this time two financing goals, then is worried this year domestic financing environment has the ahead of time financing behavior which the transformation makes.
not come singly but in pairs, except the permanent large estate, in the near future also will have other several to carry on the different stratification plane capital operation in H going on the market company.Occupied happy (03383.HK) just to work out the credit agreement elegantly with American Bank Negotiable securities Asia Limited company, has obtained 125,000,000 US dollar 3 year time loans; Green city China [10.86 -1.09%] (03900.HK) in 1 month successively with the safe trust and the Chinese-Thai trust cooperation, has obtained Gao Keda 3,100,000,000 Yuan trust financing.
in A market, guaranteed the advantage real estate, the golden group [13.60 -2.37%] (600383.SH) one after another completes the direction detection in last year to increase sends, thus caused the group fund reserve to be abundant.Guarantees advantage real estate announcement in 2009 the financial report form to demonstrate, although this group contributed funds in last year 40,000,000,000 buys the land newly, but up to the end of last year, this group cash remaining sum still had 150 hundred million.Wan Ke the newspaper boosted in last year 10,000,000,000 increases sends the plan also to wait for the correlation department middle the examination and approval.
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