Performance Differentiation Does Not Mean That Every Real Estate Enterprise Has "Nine Gold And Ten Silver"

The traditional "golden nine silver ten" has passed, but the experience of different housing companies is quite different.

Recently, listed housing companies have released their sales performance in October. From the data point of view, some housing enterprises achieved a substantial increase in sales through various marketing means, and the completion of the annual performance was relatively good. Others sell poorly and fail to meet half of their sales targets.

For example, Hengda, which implemented full sales promotion, achieved 83 billion 100 million and 90 billion 300 million sales in September and October respectively. Before October, Hengda had a total sales volume of 546 billion 200 million, with a target completion rate of 91%. By contrast, the goal of sunshine 100 and other housing enterprises is not good enough, but less than half.

Performance differentiation is one of the main themes of real estate in recent years. Land reserve, strategic positioning, product type and so on are all factors leading to differentiation. But fundamentally, this phenomenon reflects the reality of intensified market competition. Analysts pointed out that in the market downturn, industry differentiation will also intensify.

"Price change" is the mainstream.

After the failure of "Kim Gu", the real estate market in October also showed a mediocre performance. According to the data of Shanghai Yi Ju Real Estate Research Institute, in October this year, the turnover area of new commercial housing in 40 typical cities decreased by 4%. Among them, the area of 4 first tier cities decreased by 10%, while the 18 second tier cities decreased by 4%, while the 18 three or four cities decreased by 3%.

Wuxi, Zhongshan and other three or four cities with strong regulation and control, as well as Nanjing, Hangzhou and other Eastern second tier cities, have a larger decline.

Nevertheless, the performance of large and medium-sized listed housing companies is still rising, and better than the market mean. According to statistics of Zhongyuan Real estate, in October this year, 26 Housing enterprises combined sales of 40726 billion, up 17.9% over the same period last year.

After continuous high sales in September and October, Hengda's sales volume has reached 546 billion 200 million this year, exceeding the 518 billion 990 million yuan of Vanke. In October, Biguiyuan sold 56 billion 760 million yuan in rights and interests, and the sales volume before October was 479 billion 690 million yuan. According to the list released by Yi Ju Ke and Rui, the full caliber sales volume of the former Biguiyuan garden in October was 665 billion 500 million yuan, ranking first in the industry.

Other large housing enterprises have also achieved sales growth. For example, the sales volume of Baolong real estate was 50 billion 510 million yuan, exceeding the target of this year. The completion rates of dragon, Jia Zhaoye, Shi Mao, Longhu and sunshine city are all above 90%.

Among them, "price for volume" is the most mainstream marketing means. At the end of 8, Hengda launched the marketing strategy of "532 flats nationwide, 22% off for flash purchase", and the regional companies under the group were involved in marketing. According to the announcement, Hengda contract sales average price in September was 10054 yuan / square meter, compared to 10504 yuan / square meter in the same period last year. In October, it dropped to less than 10000 yuan, which was 9336 yuan per square meter.

Although the behavior of direct price reduction is easy to arouse the owner's "rights protection", this is still the most direct way to promote sales.

In other housing enterprises, the average selling price of Xuhui in October is 15 thousand and 800 yuan / square meter, which is obviously lower than the 16 thousand and 900 yuan / square meter level this year. The average selling price of agile in October was 11051 yuan / square meter, which was 12916 yuan / square meter in September.

Zhang Dawei, chief analyst of Zhongyuan Real estate, believes that this year's regulation and control policy is the main feature of restricting financing channels. So far, private equity, trust and other channels have been greatly reduced, bank loans are also significantly restricted. For most of the housing companies, it is the main task to catch sales and money back. This is also the main reason for enterprises to offer discount promotions.

Industry consolidation intensified

But not all enterprises can rely on this approach to boost sales. A housing firm in Shandong said to the twenty-first Century economic report that in the southern part of Shandong, the property market once appeared a "price war". However, the local market demand had been drastically overdrawn in the previous two years, and the price reduction effect was not obvious.

He also said that high-end residential projects are also vulnerable to price dilemma. "Luxury houses are slow to sell, and no price cuts will be bad. It will not be enough to reduce prices, but it will be difficult to achieve substantial reductions."

Although large housing enterprises have achieved growth in performance, but this year, many housing enterprises failed to achieve the trend of upward trend.

In October of this year, sunshine 100 achieved an unaudited contract sales of about 6 billion 807 million yuan (including 1 billion 583 million yuan of small stock trader), down about 12% from the same period last year. It is understood that sunshine 100 at the performance meeting has proposed that in 2019 the company's contract sales target of about 15 billion yuan, according to this calculation, the completion of the first 45.38% target in October.

Over the same period, the sales volume of Jing Rui real estate was 17 billion 530 million yuan, down 5% from the same period last year. It has become one of the few enterprises with declining sales. The old company, Wantong real estate, has been completely left behind. In the first three quarters of this year, Wantong real estate only achieved 710 million yuan in business income, a decrease of 74.6% compared to the same period last year, and the net profit of shareholders belonging to the listed company was 239 million yuan, down 29.32% from the same period last year.

The division of performance reflects the fierce competition in the industry. The housing enterprises said that in the market downturn, small housing enterprises in financing, land, brand premium and other disadvantages are more obvious, differentiation tends to intensify.

In a recent property forum, Sun Hongbin, chairman of China financial innovation group, said that in the next five years, the market share of the top five housing enterprises will reach 30%. He also warned peers that regulation is a long-term behavior and should not have illusions.

Shanghai Yi Ju Research Institute also pointed out that the future market trend is not optimistic. "Under the explicit position of the central government, the property market expectation has changed, although the volume of pushing up of housing prices may increase significantly, and volume is hard to grow obviously, and even there may be a slide. According to the category of sub cities, the first tier cities have stabilized rebounding for two consecutive years, but it is difficult to sustain growth. The second and second tier cities in the eastern and central regions may continue to cool down. The volume of second tier cities and three or four tier cities in other regions is facing a larger risk of downfall.

Zhang Dawei pointed out that, affected by this, the situation of performance differentiation will intensify. In addition to continuing to implement sales promotion measures, the M & a market will be stimulated, and the transaction may be heated up. In the near future, the city of Yuecheng sold half of the shares of the Changyang Peninsula item company in Beijing to Vanke; SOHO China, after selling a number of parking spaces, came out with the news that it wanted to sell three of its offices.