Real-estate Stocks Rise On Further Easing Expectations

Real-estate stocks rose on Monday with more than 20 companies including Vanke hitting their daily limit on the A-share market, driven by rumors about “directional changes in housing policy”, Yicai.com reported. Some believe authorities will shift focus to destocking from promoting “three major projects” and allow local-government financing vehicles to acquire and convert existing housing into rental housing, relax purchase and prices restrictions and reduce deed taxes to 1%. Recently, in addition to the full relaxation of purchase limit by upper tier-two cities Chengdu, first-tier city Shenzhen is also rumored to be easing homebuying restrictions in suburban areas, the newspaper said.