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In the first half of this year, the inventory and transaction volume of the property market, the project sales cycle has lengthened, and the turnover rate has slowed down,
which has given rise to a surge in the financial expenses of real estate companies
Editor's note: In The Fafa Yellow Pages platform shopping mall has also codenamed the future of real estate companies. The financing costs of real estate companies will undoubtedly increase significantly. To a certain extent, this has also aggravated the severity of the capital chain of real estate companies. With the combined efforts of multiple factors, it is not difficult to predict that the intensity of real estate companies' "exchanging price for volume" will be further deepened.
According to information statistics, the total financial expenses of the above-mentioned listed real estate companies in the first half of this year
were .
The total amount is .00 billion yuan, and the same period of the year was .000 billion yuan. The year-on-year growth rate of financial expenses in the same period of the year
is about %.
It can be seen that compared with the slight increase in the financial expenses of real estate companies in the same period of the year, the financial expenses of real estate companies in the same period of this year turned to a sharp increase, increasing by nearly 1 percentage point.
On behalf of?Develop?[Same phone number and WeChat number:..Liu Sheng:]The mid-term report [Same phone number and WeChat number:..Liu Sheng:] appears, send [Same phone number and WeChat number:..Liu Sheng:] ..Liu Sheng: The financial expenses of the 】family are negative, while those of the Dai family are positive. Among them, the financial expenses of each housing company exceeded 100 million yuan, and the financial expenses of each household exceeded 100 million yuan.
Judging from the specific financial expenses spent by real estate companies in the first half of the year, China Enterprises ranked first, surpassing Vanke, with an amount of up to . 100 million. Vanke ranked second with . China Merchants Real Estate followed closely behind.
It is worth noting that according to information statistics, Oceanwide Holdings' financial expenses in the first half of this year were
.
Expenses
The year-on-year decline was about %. Financial Street’s financial expenses in the first half of this year were . A huge increase of 1.0 billion yuan, with a year-on-year growth rate of more than %.
However, compared with the number of real estate companies that have effectively controlled financial costs, the number of real estate companies with financial costs rising year-on-year
is even greater.
In this regard, industry insiders told reporters that in recent years, real estate companies have limited domestic financing channels.
It is difficult to obtain financing from the capital market and bank loans. Most developers use trust channels. To finance, the financing capital is basically above %, and even individual real estate companies have to borrow usurious loans from the private sector to survive. In view of this, many
real estate companies have gone abroad to raise funds. However, in the context of the continuous decline in transaction volume in mainland my country's real estate market and the low return on investment in the real estate market
, overseas investors have They also do not buy the low-cost financing accounts of real estate companies, which to some extent has caused the cost of overseas financing for real estate companies to even rise to more than %.
Obviously, high interest payments have intensified the company's financial pressure, and at the same time it has also tested the real estate company's ability to withstand financial
pressure.
Project turnover speed is under pressure
&The debt amount of real estate companies is directly proportional to their financial expenses. &rAnother industry insider told reporters that
in 2019, most real estate companies purchased a lot of land and their liabilities increased a lot, which obviously further increased the proportion of their interest-bearing
liabilities. exacerbating its financial burden.
It is worth mentioning that Song Yanqing also told the reporter of "Securities Daily" that "in real estate development, if the completion period of the project is considered as the time point, if the project is still completed upon completion, If the interest-bearing loans for the initial development project have not been repaid, the more existing houses that have not been sold, the greater the pressure will be on the company's financial capital targets&r
.
Looking at the property market inventory and transaction volume in the first half of this year, most real estate companies’ sales target completion rate is not as good as expected at the beginning of the year
The project sales cycle has lengthened and the turnover rate has slowed down, which has given rise to real estate company financial difficulties The phenomenon of skyrocketing costs
.
In fact, most real estate companies have realized that financial costs are rising in the development of real estate projects. In view of this, most real estate companies are adopting a higher turnover strategy and reducing project turnover by accelerating project turnover. Interest Expenses.
Our reporter learned from multiple interviews that almost all large benchmark real estate companies are vigorously promoting the
imitation development of standardized product lines. The reason is that product line development can achieve rapid positioning, rapid planning, Fast recruitment, fast construction
fast sales and fast cash flow balance can also increase project turnover speed and reduce financial pressure
.
In addition, in order to borrow money with lower interest rates, individual powerful real estate companies are striving to establish + stock listing
financing channels, and domestic and foreign financing costs are close to % The gap has caused real estate companies to rush to open listing channels in Hong Kong, my country.
From benchmark real estate companies such as Vanke and Greenland to developers such as Oceanwide Holdings that strive for transformation and change, they have all completed a dual financing channel strategy to open up domestic and overseas capital markets, and their intention is nothing more than expansion. Financing channels, in the context of high-leverage operations
strive to reduce the financial costs caused by high liabilities, thereby increasing the company's profits
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