China property prices tipped to rise

Business | Stella Zhai 24 May 2019

The average price of Chinese commercial property is expected to rise 7.6 percent this year to 9,206 yuan (HK$10,444) per square meter, a new report from the Chinese Academy of Social Sciences China showed.

The report said the average home price increased 12.2 percent in 2018, much higher than expected.

Meanwhile, the China Real Estate Association released its 2019 research report of the best listed developers, with Evergrande (3333), Vanke (2202), and Country Garden (2007) taking the top three spots, unchanged from last year.

The research was based on a total of 218 listed companies, among which 83 are listed in Hong Kong. Poly Real Estate, China Overseas Land & Investment (0688), Sunac China (1918), Longfor (0960), Seazen, China Resources Land (1109) and Guangzhou R&F Properties (2777) ranked fourth to 10th.

The average total assets of listed real estate firms rose 28.4 percent year-on-year to 112.2 billion yuan, while average revenue and average net profit respectively grew 33.92 percent and 13.82 percent in 2018. In terms of leverage level, the average leverage ratio of the listed firms covered gained 3.04 percentage points to 68.09 percent, while average net debt ratio grew 2.65 percentage points to 92.52 percent.

Shares of Hong Kong-listed firms outperformed those listed in the mainland, the report showed.

The total amount raised from bond issuing grew 38.6 percent year-on-year to 186 billion yuan in the first quarter, benefiting from a better financing environment, according to the CREA.

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