Sou Hu Cai Jing·2025-11-17 14:12Core Viewpoint - A wave of property asset disposals led by banks is emerging, with "bank direct supply housing" being sold through online platforms like Alibaba and JD.com, indicating a shift in asset management strategies within the banking sector [1][3]. Group 1: Market Dynamics - Banks are accelerating property disposals primarily to enhance debt recovery rates during the real estate market adjustment period, with direct sales becoming a new choice for quickly revitalizing assets [3][4]. - "Bank direct supply housing" offers significant price advantages, often priced below market rates compared to regular second-hand and auctioned properties [4][5]. - As of November 10, 2023, JD.com’s asset trading platform lists 414 residential and 957 commercial properties for auction, significantly exceeding the same period last year [5]. Group 2: Pricing and Sales Strategy - For example, a 125 square meter property auctioned by Lanzhou Rural Commercial Bank sold for 1.51 million yuan, while similar properties in the area were listed between 1.8 million and 2.2 million yuan [4]. - The auction platforms are promoting these properties with slogans like "bank direct supply, sold at no cost," highlighting the aggressive pricing strategy [4][5]. Group 3: Bank Participation and Trends - City commercial banks and rural credit cooperatives are the main players in this direct sale trend, with significant numbers of properties listed for sale, such as over 2,000 by Jilin Bank and nearly 1,300 by Tianjin Bank [9]. - Large state-owned and joint-stock banks are also increasing their direct sales, with Agricultural Bank of China listing 3,436 properties and China Construction Bank 1,571 properties [9][10]. Group 4: Operational Efficiency and Cost Reduction - The direct sale process allows banks to recover funds faster, reducing the time from six months in judicial auctions to about three months [14]. - By bypassing traditional auction costs, banks can retain more revenue from sales, creating a beneficial cycle of "discounting to sell quickly" [15]. Group 5: Strategic Insights and Future Directions - This direct sale trend serves as a market research tool for banks to understand pricing dynamics and property values, which can inform future lending policies [15][16]. - Banks are also exploring partnerships with asset management companies to bundle these properties into real estate investment trusts, transitioning from a "heavy asset" to a "light asset" model [16]. Group 6: Risk Assessment and Market Impact - There are differing opinions on the impact of these direct sales on the real estate market, with some analysts suggesting potential pressure on prices in certain cities, while others believe the scale is too small to significantly affect overall market prices [18][19]. - The risk associated with bank-held properties is considered manageable, particularly in first and second-tier cities, where property values are more stable [18].