慧眼观楼市 | 改善型住房需求强劲 5月份楼市表现积极

Core Insights - The real estate market in China maintained a stable trend in May, with the new housing market showing notable performance, as indicated by the average price of new residential properties in 100 cities rising to 16,815 yuan per square meter, a month-on-month increase of 0.30% and a year-on-year increase of 2.56% [1] - Major cities like Shanghai and Guangzhou led the price increases due to the introduction of quality improvement projects, with prices rising by 1.47% and 1.25% respectively [1][2] - The increase in housing prices is supported by a series of financial policies that lowered housing provident fund loan rates and the 5-year LPR, effectively reducing the cost of home purchases and stimulating demand [1][4] Market Performance - In May, core cities such as Beijing, Shanghai, and Guangzhou saw significant increases in new home transaction volumes, with Beijing recording 3,917 transactions (up 14% month-on-month and 38% year-on-year), Shanghai achieving 620,000 square meters sold (up 20% month-on-month and 24% year-on-year), and Guangzhou with 6,572 transactions (up 32% month-on-month and 26% year-on-year) [2] - The performance of high-end and improvement projects in core cities was particularly strong, with "daylight discs" frequently appearing, indicating a sustained increase in buyer interest [2][3] Future Outlook - The market is expected to maintain a loose policy environment in June, with local governments focusing on the implementation of special bonds and land storage, which may enhance market recovery [4] - The overall real estate market has shown signs of stabilization since the fourth quarter of last year, improving supply-demand relationships and boosting market confidence, with low home purchase costs and supportive policies indicating a promising outlook for June [4]