在正面预期和利空因素的交织下,今年地产股的表现仍将是反反复复的。其中,正面的因素主要包括:人民币升值预期的加强和房地产公司业绩的持续增长及改善;相反,负面的因素则主要来自政府调控政策的需求和人们对房价下跌的担忧。对于投资者而言,把握合理的估值和投资的时机十分重要。我们认为,优质地产股将在10-15倍的预测市盈率区间来回波动,投资者应该秉持“利空兑现买入、 In the face of positive expectations and negative factors, the performance of real estate stocks this year will continue to be repeated. Among them, the positive factors include: the expected appreciation of the renminbi and real estate companies continue to grow and improve performance; the other hand, the negative factors are mainly from the government regulation and control policies and people’s concerns about falling prices. For investors, it’s important to have a sound valuation and investment timing. We think the high-quality property stocks will fluctuate within the range of 10-15 times the forecast PE, investors should uphold the ”