现房销售推行提速或加剧房企资金压力，业内建议“渐进式过渡”

Core Viewpoint - The recent push for the sale of existing homes in various regions, including Xinyang, is seen as a significant shift in the real estate market, aiming to address issues related to the pre-sale system and enhance buyer protection [2][3][4]. Group 1: Current Trends in Real Estate Sales - The Xinyang Housing and Urban-Rural Development Bureau has mandated that all newly sold land must follow the existing home sales model, indicating a broader trend across multiple regions [2]. - Over 30 provinces and cities have introduced policies related to existing home sales since late 2022, leading to a projected 19.1% year-on-year increase in existing home sales area, reaching approximately 300 million square meters in 2024 [3]. - The existing home sales model is expected to account for 30.84% of total sales, reflecting a significant shift in market dynamics [3]. Group 2: Implications for Real Estate Developers - The transition to existing home sales will increase the financial pressure on real estate companies, as the sales cycle will extend, leading to slower cash flow and potentially impacting market stability [2][5]. - Developers will need to adapt to a new profit model that relies more on product quality and premium pricing rather than rapid sales [4][5]. - The existing home sales model requires developers to have stronger financial capabilities, as the cash recovery period will extend by 2 to 3 years compared to the pre-sale system [5][6]. Group 3: Market Reactions and Support Policies - Industry experts suggest that the shift to existing home sales should be gradual to avoid market disruptions, with recommendations for policies to be established at the time of land transfer [7]. - Various regions are implementing supportive measures, such as extending land payment deadlines and offering tax rebates to stimulate demand for existing homes [7].