Barclays Research noted that Shanxi province last week announced the removal of most of the existing property policies (including home
purchase restrictions (HPR) and 70:90 policies).
This echoes President Xi's supportive stance to help developers sell down housing inventories, and the research house expects other provinces will follow.
Furthermore, Barclays sees a high possibility of housing provident fund (HPF) loosening so as to release more end-user demand. In other words, the current policy environment is still favorable to the physical property market and hence developers' share performances.
Some high-beta names may have a short-run outperformance, but Barclays continues to
prefer quality names such as COLI (00688), China Vanke (02202), CR Land (01109), Longfor Properties (00960), Sino-Ocean and KWG Property (01813) as its long-term core holdings.
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