Beijing News (Reporter Zhang Xiaolan) On March 6, the China Index Research Institute released the real estate industry financing report (hereinafter referred to as the "report") from January to February 2024. According to the report, in February this year, the total amount of bond financing of real estate enterprises was 309500 million yuan; The average interest rate for bond financing in the industry is 329%, down 084 percentage points, an increase of 005 percentage points.
From the perspective of financing structure, in February this year, the real estate industry credit bond financing was 157900 million yuan, accounting for 510%；The amount of overseas bonds issued is 4600 million yuan, accounting for 15%；ABS (assetization) financing 1470 billion yuan, accounting for 475%。
Overall, from January to February this year, the total amount of bond financing of real estate enterprises was 879800 million yuan, down 111%。Among them, the amount of credit bonds issued is 596400 million yuan, down 9 percent year-on-year3%；The amount of overseas bonds issued is 11600 million yuan, a year-on-year decrease of 868%；The amount of ABS issuance is 271800 million yuan, a year-on-year increase of 113%。
The China Index Research Institute said that due to the impact of the high base in January 2023 and 2024, and coinciding with the Spring Festival holiday, the total amount of credit bond issuance in February this year decreased significantly year-on-year and month-on-month, and the issuance reached a low point in nearly four months. Among them, in February this year, only one real estate company in Binjiang successfully completed the issuance of credit bonds, with an issuance amount of 1.3 billion yuan, and the scale of issuance and the number of issuing enterprises decreased significantly compared with January. The significant year-on-year and month-on-month increase in the amount of ABS issuance was mainly due to the low base in 2023 and January 2024. Among them, quasi-REITs are the largest type of asset-based products in issuance, accounting for 666%。
It is worth mentioning that the first phase of the asset-backed special plan (hereinafter referred to as "Shenzhen Housing REITs") of China Securities Construction Investment-Shenzhen Talent Housing Rental Housing in 2024 (hereinafter referred to as "Shenzhen Housing REITs") was successfully issued and established on the Shenzhen ** Stock Exchange. Shenzhen Housing REITs is the first phase of the 5 billion yuan rental housing REITs storage shelf product of Shenzhen Talent Housing Group, with an issuance scale of 86.5 billion yuan, priority ** yield of 300%, setting a new low in the issuance rate of rental housing REITs products in the whole market.
Edited by Wu Xin
Proofreading by Zhai Yongjun.