129773908965000000_2-Reporter Sun Jianyou according to the industry's business cycle properties, can be found in the cyclical recovery, as with the automobile industry
tera power leveling, real estate industry is also expected to become leading industries of the national economy, known in the early cycle industry. Analysts pointed out that all the shares in the current valuation discount, 2009-2010 ROE over the 15%, 2009-2010 performance rose two years in a row is greater than the 15% standard, might provide some clues for the mining potential blue-chip companies in the real estate industry. Pay special attention to sustainable growth based on principles of Merrill Lynch investment clock, based on the industry's economic cycle properties, through structural analysis of stock markets, can be found in the recovery cycle, except for automobile industry, Real estate and other industries are also expected to become commonly known as early cycle industry. Assumption real estate properties in the economic cycle is relatively stable, where its in a phase of the economic cycle on performance will be in the next stage of economic cycle the same good. At the same time, assuming that all stages of the economic cycle in China proper, in a phase of the economic cycle on real estate incomeRates and the next stage of economic cycle the same there is a strong correlation between the rate of return.����Proceeding from the above two assumptions, seems to trade into the early period of real estate industry and analyse them. According to Shen Wan classification standards, currently a-share stocks in the real estate industry for 146. As of market close on March 20, the 146 only stocks overall earnings (TTM) around 15.05 times times, and the same period compared to the overall valuation of all a-shares 14.09 times times, there is only a slight valuation premium. Looking back can be found, all a-share valuation of the real estate at a premium rate of change is very dramatic. According to the real estate industry in 2000-2002 all a shares valued at a premium, but valued at a premium rate numberTime does not exceed the number 100%. 2002-2005 valuation premium rate most of the time in between 100%-volatility, fluctuations between 2005-2007 in-200%, 2007-2009 return to 100%-cent interval. Since the beginning of 2010, all real estate industry a-sharesValuation premium fast 100% less, and eventually fell to the latest 6.81%. In addition, over the past two years, fluctuations in results for the real estate industry is fairly obvious. For example, net profits rose in the real estate industry in 2009 Shen Wan 60.29%, clearly beyond the performance of all a-shares of 28.75% growth in the same period. However, in 2010, Shen WanReal estate industry net profit increased 29.03%%, lagging behind the performance of all a-shares of 38.76% growth in the same period.����Thus, although the growth in results for the real estate industry in the past two years are at a high level, but volatility is large, at a time when selecting potential blue-chip companies in the sector, need to pay special attention to the achievement of sustainable growth. Based on the above analysis,Relative before all a shares at discount rate of return on equity, the 2009-2010 over 15%, results for the 2009-2010 an increase of two years in a row is greater than the 15% for the screening of potential blue-chip standards, currently both of the above three conditions can be found real estate potential blue-chip 8, Datong, Sun City, are the first city kingberry deepZhenye a, Beijing urban construction development
tera gold, development of guangyu, rongsheng, overseas Chinese city a, electronic city. Sales decision height valuation analysts pointed out that the deal after rally began in the first one or two lines of the first set of loan discount city, entered the March just needs a loan and general housing development loan will receive greater financial support, while supply will start volume. In addition, developersIn the same caution as pricing strategies to benefit the situation in transaction recovery, these markets were able to March entities providing support. Analysts on 2012 sales recovery compared have the confidence of one or two major cities, it considers falling prices and demand for home policies (credit) tilt, will effectively stimulate demand for release, while sales of recovery may be increasedStrong confidence in buyers home buyers.����Analysts pointed out that funds currently in inventory and developers of high tension, will prompt developers to speed up the price promotion, although sales rebounded to happen overnight, but significant increases in overall levels for 2011 is value is the probability of the event is expected around may in-12%. February House prices keep falling throughout the countryPotential, 70 cities throughout the country 66 per cent from the city in a new commercial house price decline and flat, which fell to 45 the number of city. National House prices since January after entering the stopped up stage, which still continues down trend. Analysts believe that compared to 2011, currently developers no longer tangled in the do you want to cut
tera gold, complies with policy trends and pricesPins will be the future industry trends, home prices fell back during the sales release the space sector valuations rise height, in terms of real estate stocks configuration, in addition to leading, real estate stocks may be appropriate to participate in two or three lines.
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