Property Market Regulation Boots &Nbsp; Real Estate Stocks In The Medium And Long Term Performance Is Not Optimistic.

The relevant ministries and commissions recently promulgated a number of measures.

New deal does not fall or rise

Before the festival, relevant ministries and commissions introduced measures to consolidate the real estate market regulation and control results.

The main measures include: strengthening the implementation of the macro-control policies and measures in the real estate market, perfecting the differential housing credit policy, suspending third or more housing loans, adjusting the first mortgage loan ratio to 30% and above, the second housing loan down payment ratio is not lower than 50%, the loan interest rate is not less than the benchmark interest rate 1.1 times, adjusts the preferential tax and personal income tax preferential policies in the housing paction link, and increases the effective housing supply.

The industry believes that the regulation policy directly on real estate, banking and other sectors of the pressure.

In September 30th, property stocks outperformed market expectations.

According to the weighted average calculation of the market value of circulation, the real estate sector rose by 3.92% on that day, the 23 highest sector in the industry.

Of the 135 constituent stocks, 124 rose, of which 5 real estate stocks rose more than 8%, while the green real estate rose by 9.96%.

In this regard, Dacheng Fund believes that after the introduction of the new deal, the market has rebounded because of "boots landing".

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Short term impact on the market is limited.

For the future trend of the real estate sector, some funds' views are not optimistic.

Dacheng Fund believes that the new deal shows the determination to curb housing prices rising too fast.

If housing prices can not be effectively reduced or turnover remains high, the sector will always face the risk of continuing policy pressure, so in the long run, the real estate sector is difficult to perform.

In terms of operational strategy, the Dacheng Fund believes that the current market price earnings ratio of the real estate sector is about 15 times, and the valuation is not high, but the recovery of the whole industry may be too early.

At present, we should pay more attention to those large developers who have large scale, better operation, more land reserves, and smooth financing channels. These enterprises have relatively small risks, and their profits are expected to be relatively stable.

The Noah fund also expressed an optimistic attitude towards the future trend of real estate in the future.

Noah Fund pointed out that this round of regulation has long been expected in the market, so the introduction of this regulation will not have a big impact on the A share market.

It is expected that the A share market will remain the same pattern in the short term and continue to oscillate near the 2600 point. Banks, real estate and related industries will be suppressed, and the hot spots will also focus on consumption, emerging industries and other fields.