Real estate development credit tightens capital pressure or allows developers to slash sales

Financial pressure or prompting more developers to lower prices sales reporters recently learned that some banks have begun to implement strict control of real estate development loans, at the same time, the Housing enterprise stock market financing also repeatedly blocked.　　Experts say that if developers fail to obtain effective working capital within a quarter, the sale of lower prices could be the only way to accelerate the return of funds. Under the macro-policy tone, personal mortgages have been tightened, and developers wanting to get bank loans are not easy.　　Some developers said that the current application of bank loans is not as easy as before, and bankers told reporters that banks are now generally unable to lend to developers. Guangzhou a joint-stock Bank project manager to our correspondent said, according to Superior policy, now not only personal housing tightening, even the developers of credit began to tighten. The person revealed that the central government recently issued a series of policies to regulate the real estate industry, the Bank of real estate development business loans to become cautious attitude, loan approval more stringent. And a state-owned bank also told reporters that the bank for developers credit or set a ceiling, but the ceiling is now a small reduction.　　China Merchants Bank has also made it clear at the brokerage analyst meeting that the bank has a cap on real estate development loans.　　According to media reports, a state-owned bank issued a new real estate industry lending guidelines earlier this year, credit loans are not allowed to be placed, developers all loans need to have collateral or security. This also confirms the developer's claim. "It's not as easy to go to bank loans now as before. "The owner of a developer in Dongguan admits. "The loans that were easy to get over the past year are now being rigorously approved and not necessarily available at the end," he said. "There are too many developers to rob loans now, but the overall size of credit will not fall sharply."　　Han Xi, a real estate expert, told reporters.　　The financing of the stock market financing of capital market is difficult to borrow, and now through the capital market financing this road is not easy to take. There is news that the real estate companies listed financing or financing in the capital markets, not only need the SFC's approval, but also the Ministry of Land and Resources before the clearance. The Ministry of Land and Resources is cooperating with the SFC to carry out an inventory of suspected illegal land use projects in some of the IPO and refinancing real estate enterprises. Recently, some investment bankers said that the SFC has taken measures to suspend property or property-related listed companies through the stock market refinancing, to curb the housing bubble.　　At the same time, at least more than 30 property companies have abandoned their listing plans recently.　　Even the already listed housing companies, in the context of the stock market slump, it is not easy to get money from shareholders. Since the beginning of this year, Hu from 3,300 points, the lowest point to 2800多 points, some companies of targeted additional refinancing plan also into a dilemma. Of the 30 companies that fell below the price, the real estate company has 12, accounting for 40%, involving refinancing on a scale close to 28 billion yuan. These companies either adjust their offerings and size, or they are forced to abandon refinancing plans.　　From the current situation, if the market continues to weaken, most companies will choose the former. Recently, the Chinese real estate industry AlsoThe announcement said that the total amount of funds proposed to be targeted for additional recruitment from no more than 2 billion yuan down to no more than 1.7 billion yuan.　　China-Heng Group said the number of additional ~5000 from 30 million shares to 10 million shares ~4000 million shares.　　The blockage of financing is bound to create further pressure on the real estate company's cash flow and expansion capabilities. The current property market in Guangzhou has been quietly lower prices, although some developers January sales still hot, but still can not hide the industry's concern about the industry's capital chain.　　Some experts believe that the developers of the usual liquidity can only meet a quarter, if the market wait and see further aggravating, various financing channels are not smooth, price reduction sales, speed up the return of funds will become a trend, the price inflection point will come in advance. The latest data show that, including Vanke, decimating, bi-garden and the first month of the developers of this year's sales are good, but Han Shitong said, "The current market sales are good and bad, these enterprises sell well, but more enterprises have difficulties in sales, some even 0 network sign." "He believes that, from the current situation, the market has changed," the developers all the funds rely on the market, if the deal shrinks too much, the IPO first reaction, the issue is also limited, and the bonds may not be issued to the final response to the bank. "Some analysts believe that the housing market has entered an early stage of contraction, that is, trading volume began to show a sharp contraction, but house prices have not seen a significant decline."　　If the developer financing is blocked, the turnover continues to decline, the sale of price, or disguised promotion may come early.　　Reporters recently found that developers have been the impulse to increase prices have been restrained, some of the real estate also appeared "shy" price. In the eastern part of Guangzhou, the average price of more than 9,000 yuan has now become 6500 yuan ~7500 yuan/square meter. In addition, in Haizhu District a business center office, its average price also appeared loose. The office average price of 15000 yuan/square meters, and last year the highest average selling to more than 16000 yuan, staff told reporters, is now winding up a little lower prices. However, real estate marketing planning expert Yifeng told reporters that the business center sales staff liquidation is untenable, "currently in the sales of many floors, and the entire layer of at least 10 floors below the sales." Yifeng said that at present some housing enterprises cannot withstand the central regulatory pressure and market negative factors, have to "cut prices" sales in order to maintain the stability of the capital chain. But the outside world is very "shy". "To say that it is liquidation is actually to evade the fact that the price is reduced." ”