房地产投资

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5月3日电,巴菲特在伯克希尔・哈撒韦股东大会上表示,房地产投资比股票投资更耗时,吸引力更小。
news flash· 2025-05-03 13:50
智通财经5月3日电,巴菲特在伯克希尔・哈撒韦股东大会上表示,房地产投资比股票投资更耗时,吸引 力更小。 ...
年报点评|滨江集团:加快去化及项目结转,净负债率降至0.57%
克而瑞地产研究· 2025-04-29 09:28
期内,经营性现金流净额净流入77亿元,较同期下降77%,但依然能覆盖投资性及融资性现金流净流出。 ◎ 作者 / 房玲、易天宇 核 心 观 点 【首次进入TOP10,2025年计划销售千亿以上】 2024年滨江集团实现销售额1116.3亿元,同比下降27%,位列克而瑞行业销售排名第9位,成为TOP10中 唯一的民营房企。其中,杭州一城的销售贡献占比达到了83%。2025年滨江集团计划销售额在1000 亿元以上,预计行业排名15名以内,全国份额 1%以 上。 【权益销售回款50%用于投资,杭州继续保持且增加】 2024年,滨江集团在土地市场保持理性投资策略,全年获取土地23宗,其中杭州22宗,南京1宗; 新增项目计容建筑面积合计187万平方米,同比下降44%;土地总价款448亿元,同比下降22%。未来投资金额控制在权益销售回款50%左右,在区域布局 上,杭州继续保持且增加,省内适度减少,省外关注上海和江苏。期末,存货账面余额为1525亿,相应存货跌价准备40亿。 【期内各项减值损失明显减少,净利率回升至5.48%】 2024年滨江集团实现营业收入692亿元,同比下降2%。毛利率12.54%,同比下降4.22个百分 ...
中国建筑:下属子公司联合体以126亿元竞得北京朝阳区房地产开发项目土地使用权
news flash· 2025-04-28 10:33
Core Viewpoint - China State Construction has successfully acquired land use rights for a real estate development project in Beijing's Chaoyang District for 12.6 billion yuan [1] Group 1: Project Details - The project covers a total area of approximately 148,300 square meters and a total construction area of about 282,700 square meters [1] - Planned uses for the project include residential, commercial, and childcare facilities [1] Group 2: Strategic Implications - This investment is expected to enhance the company's influence and brand recognition in the Beijing market [1] - The development of the project may face various influencing factors, indicating potential risks [1]
滨江集团:销售挺进行业前十,盈利逆势提升-20250427
SINOLINK SECURITIES· 2025-04-27 03:23
Investment Rating - The report maintains a "Buy" rating for the company [1][5] Core Insights - The company achieved a revenue of 69.152 billion RMB in 2024, a year-on-year decrease of 1.83%, while the net profit attributable to shareholders was 2.546 billion RMB, reflecting a slight increase of 0.66% [2][3] - The company's gross margin decreased to 12.54% in 2024 from 16.76% in 2023, primarily due to the settlement of low-margin projects from 2020-2021, with expectations for gradual recovery as higher-margin projects from 2022-2024 are recognized [3] - The company ranked 9th in the industry sales ranking, entering the top 10 for the first time, and is the only private real estate company in this group [3] - The company's interest-bearing debt decreased to 30.5 billion RMB, and cash and cash equivalents increased to 32.7 billion RMB, marking the first time cash exceeds debt [4] - The company focused its investments in Hangzhou, with land reserves in the city increasing to 70% of total land holdings, enhancing its future growth prospects [4] Financial Performance Summary - The company’s revenue for 2024 is projected to decline slightly in the following years, with estimates of 68.518 billion RMB in 2025 and 68.050 billion RMB in 2026 [9] - The net profit is expected to grow significantly in the coming years, with projections of 3.050 billion RMB in 2025, 3.558 billion RMB in 2026, and 4.037 billion RMB in 2027, reflecting year-on-year growth rates of 19.81%, 16.65%, and 13.48% respectively [9][5] - The average price-to-earnings (P/E) ratio for the company is projected to be 10.2x in 2025, 8.7x in 2026, and 7.7x in 2027, indicating a favorable valuation [5] Market Position and Strategy - The company is strategically focused on the Hangzhou market, which is characterized by high demand and resilience, positioning it to benefit from future sales and investment opportunities [5] - The company’s land acquisition strategy has led to a significant market share in Hangzhou, with a 37% share in the local land market [4]
房地产1-2月月报:新房市场仍待修复,投资端更弱于销售端-2025-03-18
Shenwan Hongyuan Securities· 2025-03-18 07:44
Investment Rating - The report maintains a "Positive" rating for the real estate sector, indicating optimism about future recovery and growth [4][22]. Core Insights - The new housing market is still in need of recovery, with the investment side being weaker than the sales side. The report suggests that the investment recovery pace will be significantly slower than in previous cycles [4][22]. - The report highlights that the sales side is currently in a bottoming phase, with expectations of demand recovery driven by proactive policies and urban renewal projects [4][33]. Summary by Sections Investment Side - In January-February 2025, real estate development investment totaled 1,072 billion yuan, a year-on-year decrease of 9.8%, with new starts down 29.6% and construction down 9.1% [5][21]. - The report forecasts a 2025 investment decline of 9.9%, with new starts and completions expected to decrease by 9.7% and 22.6%, respectively [4][22]. Sales Side - The sales area for January-February 2025 was 110 million square meters, down 5.1% year-on-year, while sales revenue was 1 trillion yuan, a decrease of 2.9% [21][33]. - The average selling price increased by 2.6% year-on-year, indicating some resilience in pricing despite overall sales volume decline [32][33]. Funding Side - Total funding sources for real estate developers in January-February 2025 were 1.6 trillion yuan, down 3.6% year-on-year, but showing signs of improvement compared to previous months [34][36]. - Domestic loans decreased by 6.1%, while self-raised funds saw a smaller decline of 2.1%, indicating a tightening in funding availability [34][36].
楼市,破8、破7了!
商业洞察· 2024-10-22 09:15
以下文章来源于城市财经 ,作者余飞 国家统计局公布: 初步核算,今年前三季度国内生产总值949746亿元,按不变价格计算,同比增长4.8%。 城市财经 . 坐标深圳!一个用数据说话、图文并茂的全国楼市头部自媒体。 作者:余飞 来源: 城市财经(ID: City-Finance ) 10月18日,国家统计局公布了全国前三季度一系列宏观经济数据。这些数据,解答了为何9月末以 来,新一轮针对经济、股市、楼市的提振大招,层出不穷。 GDP 数据公布 01 分季度看,一季度GDP同比增长5.3%,二季度增长4.7%,三季度增长4.6%。 前三季度增速4.8%,三季度增速4.6%。从单季度增速来看,今年的经济增速放缓趋势没有改变。 此外,三季度4.6%的增速,低于此前市场的预测。 之前时代财经统计的多家机构预测的三季度GDP增速数据,集中在4.5%-5.1%之间,6家机构预测均值 在4.7%左右。 | 三季度GDP预测 | | | --- | --- | | 机构 | 预测值 | | 北大汇丰智库 | 4.9% | | 厦门大学宏观经济研究中心 | 5.1 % | | 浙商宏观 | 4.6% | | 华泰证券 | 4.7 ...
减速时代
猫笔刀· 2024-09-16 14:14
这个就是纯房价指数,如果你按照我昨晚的计算原则,把自己买房以来支付的房贷利息,投入的本金(机会成本按无风险国债利率计算)都算进去的话, 我觉得2015-2016年买的也没啥挣头了。 然后就是有人问起我信托的事,监管层早就有规定这类产品禁止公开宣传,所以我不会推荐的。两年前我有个哥们在某机构工作,给我介绍了当时他负责 的产品,锁2年,收益6.4%,买1000的话6.7%,我综合判断觉得性价比还不错。 当时我的房贷利率 4 .1% , 那边 理财有6.7% , 中间 息差2.6 %, 这个套利可以做。 现在 两年到期了, 整个社会形势和 两年前大不 一样,底层资产的风险开始增大, 同一个 产品到期续的话收益率 只有4.4-4.5%, 和房贷的 息 差连1%都没了, 这 就不值得 做了, 所以我有考虑提前把贷款还了。 如果后面需要钱到时候再找银行借就是了,现在 都是银行求着 高质量客户 贷款,利息还更低。 我想想,还有用户问房屋断供的事,这个我在社交媒体上看了不少人的经历分享,其实正规媒体也有报道,经济观察报最近就有一篇《断供房贷被冷处 理》,我放了个超链接,你们有兴趣自己点进去看。 《 断供房贷被冷处理 》 房屋 ...