Data show that alternative financing to accelerate the rise of industry mergers and acquisitions

  Yesterday, the National Bureau of Statistics Department of Urban Senior Statistician Liu Jianwei reading in February 70 cities housing data, said around the local conditions, the city of Shi policy, continue to implement the classification regulation to maintain the stability and continuity of the policy, 70 cities in 15 hot urban residential sales of new commodity price movements continued to show overall stable trend。 According to Bureau of Statistics estimated in February, first-tier cities new commercial housing and second-hand housing sales price were to continue to decline, a decline the previous month to expand and percentage points。   Housing prices of corporate bonds will enter the peak of maturity, "the second half of 2018, housing prices will enter a peak maturity corporate bonds, but the current situation, the bond market, some housing prices or difficult to achieve with new debt to repay old debts。 "Yang Kan Ping An Securities analyst, said the real estate industry。
According to the reporter, a lot of difficulty in financing housing prices increased bank, have increased the demand for alternative financing channels and information management plan, trust products, etc.。
  "Now the bank can get a loan, but harder than in the past to。
In particular, some qualification bad, or on the financing needs of the larger developers, certainly we need to explore other ways of financing。
Such as the recent real estate trust is more and more。 "One of the developers believe that。
  Trust with interest the data show that three weeks after the Spring Festival this year, the establishment of a total of 163 collective trust product, the establishment of the scale of 227 billion yuan, including the establishment of 39 real estate trust products, accounting for raised%。
To raise funds more than 7.3 billion yuan, accounting for over 30%。
This also means that nearly one-third of collective trust funds to invest in real estate。
  Guangzhou Daily reporter through all media "Good Trust" website also found that, in the current issue of trust products, the majority of the expected rate of return is not low, which China Everbright Trust – Hongrui No. 6 in the sale of trust products expected annual rate of return% ?%。 Western Trust – Sunshine City expected annual rate of return%?9%。
On another website specializing in trust products, trust in the river – No. 347 Golden Tiger expected annual rate of return is 9%?%。
  Housing prices down overall growth capital in place of the National Bureau of Statistics data show that the first two months of this year, housing prices overall funds available trillion yuan, an increase of% growth rate in 2017 dropped percentage points。 Domestic loan growth of%, compared with last year dropped by 17 percentage points。 Yang Kan Ping An Securities analyst pointed out that the real estate industry, the traditional sources of funding for the major real estate companies and Days Sales Outstanding bank loans。
  If the first half of 2018 sales blocked, and bank credit still tight, do not rule out small financial pressure facing housing prices, must seek other financing trusts。
  A chance to share real estate sector overall is not obvious underestimate the value of the aid and policy changes expected in the A-share market, the real estate sector, a wave of big rebound from the end of last year to early this year。
  Vanke A shares on January 24 this year, the station was the Lantern, but then all the way down on Monday to close at yuan, fell more than 25%。
According to the reporter, an institution that, while the real estate sector valuation is not high, but given the situation of industry fundamentals still no significant signs of improvement, the overall sector investment opportunities not yet appeared, some stage opportunities focused on the rental policy。
  3 19 morning, the central bank Deputy Governor Mr. Pan Shangzheng Bao an interview with reporters, said this year will publish financial support rental housing market related documents, is expected to introduce the first half of this year。 For the launch of the public offering of real estate investment trusts (REITs) schedule, Mr. Pan said, "is studying with relevant departments hope to begin the pilot as soon as possible。 "Rental housing policy dividend is expected to bring some stimulus to the plate," but the overall industry is not obvious opportunity。
"Guangzhou, a private person told Guangzhou Daily reporter all media。   Industry Analysis commercial real estate industry mergers and acquisitions or increases "This year, many commercial real estate projects reflect the continued tightening of bank financing。
"Yesterday, the president of the Guangdong Provincial Association of Commercial Real Estate Investment Huang Wenjie told reporters, affected commercial real estate developers on the one hand to open up other financing channels, on the other hand is also seeking cooperation with well-funded by。
Experts predict that the future of the industry M & A cases will increase in concentration will increase。   Bank lending for commercial real estate more cautious It is understood, Zhongshan City, a shopping center located in downtown, good location, opened more than two years, if the transformation of the site, brand adjustment, great room for development。 However, for various reasons mainly troubled by financial difficulties, the developers had to find the strength of the companies involved in business。
  Senior Fellow Bank Financial Research Center shardan told reporters, in fact, in recent years, banks are very cautious on commercial real estate loans。 This year in the overall contraction of bank lending, commercial real estate could be assigned to a more limited amount。
  Industrial and Commercial Bank of China Guangzhou Branch official said, in the current tight market in general bank funds, the bank's funds focus on investment in housing prices in line with national industrial policy and Guangzhou urban planning, the overall strength of strong developers, experienced project capital Golden ratio requirement compliance with regulatory requirements, complete four cards of ordinary residential housing and leasing projects。
  A joint-stock Bank Guangzhou Branch official told reporters that at present banks for commercial real estate are cautious, generally only accept collateral core city and requires a very high-quality customers, and the need to strictly examine whether the purchase of limited credit requirements。   Another joint-stock Bank Guangzhou Branch also said that for commercial property, mainly to support the following types of projects: First, the area for a second-tier heart of the city, merit-based selection of stable operation a long time hotel project; the second is a, office building office area of core tier cities; the third is a property second-tier urban residential area with interactive, hands-on format consisting mainly of new commercial complexes, etc.。   Encourage asset securitization It shardan analysis, tighten commercial real estate loans is because the current domestic situation led to an oversupply of commercial property。 Huang Wenjie also believes that the development of the existing investment and rental property is not working well。   It is great to win business data center statistics, in 2017 the country plans to open 970 shopping centers, the actual open 504 new, the overall volume of over 46 million square meters, opened a record number; the same time, 466 projects delayed opening, the opening rate dropped to 52 %, slightly down 5 consecutive years。
  Since 2014, the shopping center supply growth slowing trend is clearly more competitive business body, the next increment of the commercial market for developers more cautious attitude, revitalize the stock of commercial or business survival will become "the most assists "。
  Huang Wenjie think, on the one hand to tighten bank financing, the other is to encourage commercial real estate asset securitization。   "However, unlike traditional financing Follow assess the value of assets, asset securitization financing more concerned about the results of operations and net realizable value。
"Wong Man-kit pointed out。
  Shardan expects future acquisitions of commercial real estate will be more industry concentration to enhance。 Commercial real estate operations more test operational capabilities and financial strength。 In addition, there will be surplus land for commercial purposes such as office space or into rental housing-related nature。