On March 14, the National Bureau of Statistics released real estate investment data from January to February 2019, showing that the national real estate development investment was 120.9 billion yuan, an increase of 11.6% year-on-year, and the growth rate was 2.1 percentage points higher than that of 2018.
“Since this year, it has been affected by the accelerated construction progress of real estate enterprises, which has pushed up real estate investment from January to February.” Guo Xiaotong, a researcher at Minsheng Bank Research Institute, said in an interview with Securities Daily yesterday that the house was represented as subdivided data. The newly-built area and the construction area of the house performed well, up 6.0% and 6.8% respectively, which means that the housing enterprises actively developed to obtain pre-sale permits, which in turn supported the good development of real estate development investment from January to February.
“According to the rapid increase in the purchase cost of land in the previous period and the impact of rising prices of building materials, the real estate investment from January to February will increase rapidly.”Rich country fundAdvanced strategyAnalystChen Jie said in an interview with the "Securities Daily" yesterday that although the growth rate of real estate investment from January to February was higher than that of the whole year of last year, the growth rate of commercial housing sales area turned negative, and the growth rate of commercial housing sales fell sharply, or Will limit the enthusiasm of real estate developers.
Guo Xiaotong pointed out that the new construction data of the house indicates that the housing enterprises are not showing signs of slack, and they are still willing to actively start new construction. In addition, due to the accelerated pace of financing for housing companies at the end of last year, it has helped to strengthen liquidity funds and effectively support new construction data. However, from January to February data, the year-on-year growth rate of real estate development enterprises has slowed down significantly, which makes the future trend of real estate investment still to be further observed.
Chen Jie said that from January to February, the growth rate of land purchase area and the growth rate of land transaction price decreased significantly. With the continuous development and construction of existing land, there will be downward pressure on future real estate construction and installation investment.
In addition, the data shows that the country from January to February 2019Fixed asset investment(excluding farmers) 4,444.9 billion yuan, an increase of 6.1% year-on-year, the growth rate increased by 0.2 percentage points over the whole year of 2018.
From the perspective of fixed asset investment, the investment in short-board investment continued to increase, and the growth rate of infrastructure investment continued to rise. Chen Jie said that from January to February, driven by the shortcomings of infrastructure construction, the issuance of local bonds, and the substantial expansion of local government special debts, the growth rate of infrastructure investment has increased by a large margin, which has made the effect of policy bottoming appear. Boost market confidence.
Guo Xiaotong also pointed out that since the second half of 2018, the state has increased its support for short-board policies and accelerated the issuance of local special bonds. Since the beginning of 2019, as of the end of February, local special bonds have been issued 307.8 billion yuan, which is not only ahead of the previous year, but also the bond interest has decreased, and the bond term has also been extended.
Chen Jie also said that in December last year, the National Development and Reform Commission intensively approved a number of infrastructure construction projects. With the steady investment policy at the national level, the regions have also actively promoted relevant policies to promote major investment projects. Implemented on the ground.
(Article source: Securities Daily)