MIDF: Loan applications increased to RM53.4 bln in August 2022

Loan applications data remains stable in August 2022, indicating that demand for property was unaffected by the overnight policy rate (OPR) hike, as it was supported by the reopening of the economy, a research house said.

一家研究机构表示，2022 年 8 月的贷款申请数据保持稳定，这表明房地产需求不受隔夜政策利率 (OPR) 上调的影响，因为它得到了经济重新开放的支持。

Citing the data released by Bank Negara Malaysia, MIDF Research said property loan applications recovered in August 2022, increasing to RM53.4 billion or 4.5 % month-on-month (m-o-m) during the month after declining by 12.5 % m-o-m in July 2022.

MIDF Research引用马来西亚央行发布的数据称，房地产贷款申请在2022年8月恢复，增加到534亿令吉，环比4.5%，而在2022年7月环比下降了12.5%。 

It said on a yearly basis, property loan applications surged by 66.1 % year-on-year (y-o-y) in August 2022 due to the low base effect caused by the lockdown imposed in August 2021.

它表示，由于 2021 年 8 月实施的封锁造成的低基数效应，2022 年 8 月的房地产贷款申请同比增长 66.1%。

The research house said the total loan approved for the purchase of property increased marginally to RM23.3 billion or 2.4 % m-o-m in August 2022, reversing from the decline of 9.0 % m-o-m in July 2022, mainly due to higher property loan applications.

该研究机构表示，2022年8月批准的购房贷款总额小幅增加至233亿令吉，环比增长2.4%，扭转了2022年7月环比下降9.0%的趋势，主要是由于房地产贷款申请增加。 

On a yearly basis, the total property loan approved during the month surged by 93 % y-o-y, attributed to the low base in August 2021 and the improved percentage of total approved loans over the total applied loans of 43.6 % in August 2022 against 37.5 % in August 2021.

按年度计算，当月批准的房地产贷款总额同比激增93%，原因是2021年8月的基数较低，以及2022年8月批准的贷款总额占申请贷款总额的比例有所改善，从2021年8月的37.5%上升至43.6%。 

“Overall, the higher approved loans is in line with our expectation of marginal recovery in new property sales for property developers,” it said.

“总体而言，较高的批准贷款符合我们对房地产开发商新房销售小幅回升的预期，”它表示。

Citing the data released by National Property Information Centre (NAPIC), it said the residential overhang units eased to 34,092 units in the second quarter of the calendar year 2022 (Q2CY22) from 35,592 units in Q1CY22, attributed to the reopening of the economy.

它援引国家房地产信息中心 (NAPIC) 发布的数据称，由于经济重新开放，住宅悬挑单元从 2022 年第一季度的 35,592 套减少至 2022 年第二季度 (Q2CY22) 的 34,092 套。

“Although the residential overhang is showing signs of easing, we see that the property market may still be partly weighed down by the lingering high overhang issues as residential overhang units remain high in Q2CY22, staying above 30,000 units,” it added.

它补充说：“尽管住宅悬垂显示出缓和迹象，但我们看到房地产市场仍可能部分受到挥之不去的高悬垂问题的拖累，因为住宅悬垂单元在 2022 年第二季度仍居高不下，保持在 30,000 套以上。”

As such, MIDF has maintained its ‘neutral’ call on the property sector, naming Mah Sing Group Bhd as its top pick for the sector with a target price of RM0.74 per share, and IOI Properties Group Bhd, maintaining its ‘buy’ call with a target price of RM1.29 per share.

因此，MIDF 维持对房地产行业的“中性”评级，将 Mah Sing Group Bhd 列为该行业的首选，目标价为每股 0.74 令吉，而 IOI Properties Group Bhd 则维持其“买入”认购，目标价为每股 1.29 令吉。