Pan Shiyi says housing market will drop prices in the second half of the year

SOHO China half year net profit 1.72 billion yuan--reporter Zhang Jun lan yesterday, Soho China issued a mid-term communiqué showed that the first half of this year, the net profit of 1.72 billion yuan, the year-on-year increase of 136 times times, hit a record high. However, Soho China chairman Pan Shiyi in the performance note will be more pessimistic about the second half of China's property market trend.　　He expects the Chinese housing market to fall in volume and prices in the coming year. Soho China Focus in the Beijing-Shanghai market communiqué showed that the first half of this year Soho China turnover (after deducting business tax) for RMB 8.66 billion, the year-on-year growth of 119 times times, has exceeded last year's annual turnover level, net profit of 1.72 billion yuan, increased 136 times times year-on-year. In January-July this year, the contract sales amount of RMB 13.57 billion yuan, including the new landmark Beijing project-Galaxy Soho accounted for the largest sales share,　　Up to 5.96 billion yuan, followed by Soho Ka Shing Center and Soho China's first project in Shanghai Soho Donghai Plaza, the contract sales amount of 3.35 billion yuan and 2.2 billion yuan. Asked about this year's sales target, Pan Shiyi told reporters that the group's first seven-month contract sales amount has reached 13.57 billion yuan, to reach the annual target of 18 billion yuan is no problem. At the end of July, 75% had been achieved and no further increase in the target sales amount was proposed.　　Soho China in Shanghai three projects, as well as Beijing's Galaxy Soho, Wangjing Soho, Guanghua Road Soho II and other projects have been completed and will be built for the next three years to create about 50 billion yuan in sales. In order to make sales revenue and rental income more balanced, pan Shiyi revealed that the company will adjust the proportion of property sales and holdings in the next 3-5 years, increasing the number of unique projects. Pan Shiyi pointed out that, because the relevant changes in the group strategy adjustment, will take 3-5 years time to adjust slowly.　　In the future, Soho China will still focus on the Beijing and Shanghai markets, and there will be no plans to develop second-tier cities for the time being. The second half of the housing market is expected to reduce the amount of price to the second half of the policy and market trends, Pan Shiyi has expressed a bit pessimistic.　　He believes that the housing market in the second half of the volume and prices there is still room for further decline. He pointed out that the developer's financial situation has been not optimistic, the debt rate is generally higher, at the same time, the first half of real estate development investment reached the highest level, coupled with a large number of affordable housing investment, the second half of the expected supply will increase significantly.　　When supply is greater than demand, prices are bound to fall. And for the existing policy trend, pan Shiyi that the state to effectively regulate the real estate market, must be in the three periods of time policy together. He said that long-term policy should be tax policy, medium-term policy is land policy, short-term policy is monetary and credit policy.　　These three policies cannot be substituted for each other, and must be combined. However, Pan Shiyi believes that the domestic housing market in the year mayCurrent price double fall situation, the reason is: the government's tightening of loans for development, cleaning up idle land policies and other measures will greatly tighten the money developers hand; the first half of this year, the National Real estate Development investment growth of 38.1%, occupy a large number of developers capital, while the construction area will increase the market supply , the guaranteed housing will form a large supply in the second half of this year, affecting the housing market price.