CHINA - Healthcare, Steel, Autos, Education, Research From Beijing

Scott Laprise/ 乐天虎

CHINA - Healthcare, Steel, Autos, Education

Thematic (Sector/Industry)

<ul>
<li>Expensive to renovate a house, need cash.</li>
<li>Time consuming to renovate a house.</li>
<li>No carrying costs except the price of money.</li>
<li>No real estate tax in China.</li>
<li>Unrenovated home is considered new, if renovated second hand. </li>
<li>High cash positions, no loan on a home is common.</li>
<li>Bullish on the real estate market with a necessary market cooling, risk on developers if prices begin to fall.</li>
</ul><h2>*** if you plan to read this report on your desktop please download the PDF version below</h2><h2>Chinese prefer not rent out their</h2>…


Expensive to renovate a house, need cash.
Time consuming to renovate a house.
No carrying costs except the price of money.
No real estate tax in China.
Unrenovated home is considered new, if renovated second hand. 
High cash positions, no loan on a home is common.
Bullish on the real estate market with a necessary market cooling, risk on developers if prices begin to fall.
*** if you plan to read this report on your desktop please download the PDF version belowChinese prefer not rent out their…

Why Do Chinese Leave Their Properties Empty?

Founder, Riedel Research

David Riedel

Founder

Independent equity research on GEM Markets

Riedel Research

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We at Riedel Research are not China bears and do have never been believers in a 'hard landing' there - however, we have identified an disturbing development in real estate price expectations in China.The monthly MNI consumer sentiment survey asks respondents multiple questions about their outlook for asset prices and their own actions in terms of investing, saving and spending.RRG has developed a series of proprietary indicators from the monthly dataset (back to April 2007) which provide deep…

We at Riedel Research are not China bears and do have never been believers in a 'hard landing' there - however, we have identified an disturbing development in real estate price expectations in China.The monthly MNI consumer sentiment survey asks respondents multiple questions about their outlook for asset prices and their own actions in terms of investing, saving and spending.RRG has developed a series of proprietary indicators from the monthly dataset (back to April 2007) which provide deep…

Outlook for Chinese Real Estate: Maybe at a Tipping Point and Headed for Significant Fall

Founder and Strategist, Entext Economics & Strategy

Sean Maher

Founder and Strategist

Entext Economics & Strategy

Entext provides institutional investors with distinctive, actionable asset allocation and thematic research, which typically challenges the market consensus. Our clients range from credit, equity and multi-asset hedge and pension funds to family offices and sovereign funds. 
 
We focus on identifying key inflection points in macro data and relative asset performance amid the 'groupthink'  and confirmation bias that characterizes most investment bank analysis.

Macro Driven Investment Insight

We've been bullish on Chinese housing since Q2-2015 - rapidly shrinking inventories since then offer fundamental support, although price growth exceeding 30-40% y/y in several key cities is unsustainable.Income multiples now range from the mid-teens to late-20s for the Tier-1 cities, with prime prices at up to $20k per square metre.However, this is distorted by the huge amount of space hoarded as ‘concrete deposit boxes’ by the top 1% of households (who own about 25% of vacant space) and the…

We've been bullish on Chinese housing since Q2-2015 - rapidly shrinking inventories since then offer fundamental support, although price growth exceeding 30-40% y/y in several key cities is unsustainable.Income multiples now range from the mid-teens to late-20s for the Tier-1 cities, with prime prices at up to $20k per square metre.However, this is distorted by the huge amount of space hoarded as ‘concrete deposit boxes’ by the top 1% of households (who own about 25% of vacant space) and the…

China's Housing Boom Overshooting on Land and New Housing Shortage - 28th Oct 2016

Founder-CEO & Chief Analyst, Real Estate Foresight

Robert Ciemniak

Founder-CEO & Chief Analyst

Real Estate Foresight

Since 2012, REF has been helping investors with market research, project due diligence, and strategy development. This has ranged from detailed assessments and estimates on distressed developers' project portfolios to market due diligence on specific projects to macro-level questions linked to demand for commodities. The unique combination of the housing markets and developer data from data partner China Index Academy in Beijing, primary research, and technology-powered alternative data collection from public sources result in a valuable content set used in REF analytics and reports.

Predictive Analytics for China Property

In the animated chart below, we visually demonstrate an interesting pattern of house price growth and sales volume growth (in gross floor area terms) for new home sales in China across a few dozen major cities.Using monthly data from January 2012 to August 2016 we show how through the last few cycles, the sales volume growth (12m rolling y/y - on the X axis) tended to lead the price growth y/y (on the Y axis). The latest August data does not reflect the impact of new home purchase restrictions…

In the animated chart below, we visually demonstrate an interesting pattern of house price growth and sales volume growth (in gross floor area terms) for new home sales in China across a few dozen major cities.Using monthly data from January 2012 to August 2016 we show how through the last few cycles, the sales volume growth (12m rolling y/y - on the X axis) tended to lead the price growth y/y (on the Y axis). The latest August data does not reflect the impact of new home purchase restrictions…

China Property Data In Motion: How Sales Volumes Growth Leads House Price Growth: 2012-2016 Cycles

In our CityScreener(TM) monthly ranking of cities, we assess the housing markets in 54 major cities in China on four metrics: 12-month house price growth, 12-month rolling year-on-year Gross Floor Area (GFA) sales volume growth,  3-month sequential price growth, and 3-month sequential volume growth (June-August vs March-May). Latest data is for August 2016 (ref. our<a href="https://www.smartkarma.com/insights/cityscreener-tm-ranking-of-housing-markets-in-54-cities-in-china-june-2016" target="_blank"> note with April data, including methodology</a>). See further below for the monthly ranking tables.What has really changed in the past…

In our CityScreener(TM) monthly ranking of cities, we assess the housing markets in 54 major cities in China on four metrics: 12-month house price growth, 12-month rolling year-on-year Gross Floor Area (GFA) sales volume growth,  3-month sequential price growth, and 3-month sequential volume growth (June-August vs March-May). Latest data is for August 2016 (ref. our note with April data, including methodology). See further below for the monthly ranking tables.What has really changed in the past…

China Property: CityScreener(TM) Rankings Of 54 Cities (August Data) And What's Changed In 6 Months?

China

Yuzhou Group Holdings Company Limited develops residential properties in southern China.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Yuzhou Group (1628 HK)

Why Do Chinese Leave Their Properties Empty?

Expensive to renovate a house, need cash. Time consuming to renovate a house. No carrying costs except the price of money. No real estate tax in...

Scott Laprise/ 乐天虎

Outlook for Chinese Real Estate: Maybe at a Tipping Point and Headed for Significant Fall

We at Riedel Research are not China bears and do have never been believers in a 'hard landing' there - however, we have identified an disturbing...

David Riedel

China's Housing Boom Overshooting on Land and New Housing Shortage - 28th Oct 2016

We've been bullish on Chinese housing since Q2-2015 - rapidly shrinking inventories since then offer fundamental support, although price growth...

Sean Maher

China Property Data In Motion: How Sales Volumes Growth Leads House Price Growth: 2012-2016 Cycles

In the animated chart below, we visually demonstrate an interesting pattern of house price growth and sales volume growth (in gross floor area...

Robert Ciemniak

China Property: CityScreener(TM) Rankings Of 54 Cities (August Data) And What's Changed In 6 Months?

In our CityScreener(TM) monthly ranking of cities, we assess the housing markets in 54 major cities in China on four metrics: 12-month house price...

Robert Ciemniak

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)