The 20 housing companies sold nearly $880 billion in commercial inventories in November.

China Paint Network
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the end of the year, marketers in the eyes of the "main look at temperament" into "main look at performance." Overall, as of December 8, according to Central Plains real estate monitoring, 20 housing enterprises announced the first 11 months of this year's sales results, a total of 879.57 billion yuan, of which, a number of housing enterprises ahead of the completion of the annual sales task. It is worth noting that the reporter noted that in the above 20 housing enterprises, although a number of developers in advance to complete the annual sales task, but in the first 11 months of this year sales performance to achieve more than 30% year-on-year growth of only about 30% of housing enterprises, in addition to housing enterprises at the beginning of the year to set sales targets more cautious, inventory is still difficult to digest is still an important factor in the performance of real estate enterprises under pressure. "Although cities are different, our inventories are growing rapidly, by nearly 40 per cent since 2011." Ren Zhiqiang recently said at a forum that a large number of inventory concentrated in third- and fourth-tier cities. "Is it possible to solve the inventory problem by removing the purchase restrictions, which cannot be completely resolved at present." Sales of 20 housing enterprises nearly 880 billion yuan reporters noted that in the above 20 announced sales results in the first 11 months of this year, Vanke with 228.2 billion yuan, just raised the performance target of Evergrande Real Estate with 172.39 billion yuan temporarily ranked second, the same size of 100 billion yuan of the scale of the park completed 115.66 billion yuan. Of the three 100 billion yuan listed housing enterprises, only Evergrande Real Estate grew by more than 30% year-on-year, Vanke by 20% and Guiyuan by 11.2%. "Most of them have completed or are close to achieving their 2015 sales targets, and from the year-on-year figures, with the exception of a few companies such as Greentown and Fuli, growth of more than 10 per cent year-on-year has been achieved." Zhang Dawei, chief analyst at Zhongyuan Real Estate, told reporters that several housing companies had completed their annual sales ahead of schedule. Among them, Evergrande recently raised its sales target from 150 billion yuan to 180 billion yuan, after the first 11 months of sales completed the upward target of 95.8%; 5.35 billion yuan, has completed the full-year target of 25 billion yuan ahead of schedule, Zhongjun Real Estate Holdings Co., Ltd. announced its November results, said that the first 11 months of the year cumulative sales of 13.459 billion yuan, has basically completed the full-year sales target of 13.5 billion yuan. In this regard, Zhang Dawei believes that, although the gold nine color is not enough, but in October and November housing market transactions rose significantly, the overall rebound in turnover led to a rise in housing prices across the country, the property market has a warm winter, especially in the first and second-tier cities in general. In view of this, key housing enterprises this year's sales performance is better than the same period last year, but the purchase of land sales ratio is at a low level. Zhang Dawei expects new housing sales in key cities to be flat in the fourth quarter of this year compared with the same period last year and will increase from the third quarter of this year. Commercial inventory is still difficult to digest It is worth noting that the digestion of inventory is still a difficult problem, especially the de-chemicalization of commercial projects is difficult to solve. According to the inventory data of 24 key cities monitored by the Central Plains, the inventory area of most cities has dropped slightly, and the digestion cycle of some cities has fallen slightly, and these cities have succeeded in suppressing the momentum of the continued growth of the indicator. According to current market trends, the active sales market in key cities can still be maintained. But Zhang Dawei said, from the national real estate market, the first and second-tier city market heating up, inventory reduction, but many third- and fourth-tier cities inventory backlog has been very serious, local third- and fourth-tier markets even in the case of rescue, still brewing crash risk, especially commercial real estate inventory pressure is still very large. In fact, 2011 was an inflection point for China's real estate "supply side". According to data released by the National Bureau of Statistics, at the end of 2011 the country's commercial housing for sale area of 270 million square meters, the country's commercial housing sales area of 1,099 million square meters. As of the end of November 2015, the country's commercial housing for sale area of 680 million square meters, the country's commercial housing sales area of nearly 950 million square meters. Compared with 2011, inventories have surged, while sales growth has been far behind inventory growth. By the end of November, China's commercial housing for sale area has risen to about 690 million square meters, a new record high. Ren Zhiqiang recently said that China has 680 million square meters of inventory, of which about 430 million square meters of residential area and commercial and office space of about 250 million square meters. "We sell about 1 billion square meters of residential space a year, compared with 1:0.4 on inventory, but commercial and office buildings sell only 200 million square meters a year, compared with 1:1.2 on inventory." So, at least for now, there are some problems with the commercial and office parts." It is worth noting that after the introduction of excessive tightening policies such as purchase in 2011, there were two changes in the real estate market: from the second half of 2010 to 2011, many large and medium-sized developers fled the restricted first- and second-tier cities and marched to third- and fourth-tier cities. As a result of the sharp increase in supply in these cities, after the introduction of austerity policies, the second half of 2011, the national property market tends to cool down, after the third and fourth-tier cities to absorb the foreign population is weak, the market saturation, and before the land, construction projects are still a steady stream of production of a large number of houses. In particular, commercial and office projects in third- and fourth-tier cities are digesting very slowly. Sources have told reporters that a project was originally planned for commercial projects, developers have been built according to this plan, but very difficult to sell, the relevant departments even want to actively adjust the project planning into residential, in order to improve the speed of inventory. Perhaps, as Ren Zhiqiang put it, "whether the restrictions can be lifted will solve the inventory problem, at present, can not be completely resolved."