加力推动房地产市场止跌回稳

Core Viewpoint - The real estate market in China is showing signs of stabilization, with a narrowing year-on-year decline in housing prices across 70 major cities and a continuous reduction in inventory, indicating ongoing adjustments and a need for improved market confidence [1][4]. Group 1: Market Conditions - In May, the year-on-year decline in housing prices continued to narrow, and the inventory of commercial housing is decreasing [1]. - The State Council emphasized the importance of stabilizing expectations, activating demand, optimizing supply, and mitigating risks to promote a steady recovery in the real estate market [1][3]. - The ongoing urbanization process in China suggests a broad space for the real estate market's development, indicating a positive long-term outlook [1]. Group 2: Demand Activation - Cities like Guangzhou have reiterated the cancellation of housing purchase restrictions and the reduction of down payment ratios and interest rates to stimulate demand [2]. - Various local governments are implementing policies such as housing vouchers, optimizing public housing loan policies, and increasing home purchase subsidies to further release demand [2]. Group 3: Supply Optimization - There is a need to introduce more high-quality housing to stimulate consumer demand for improved living conditions [2]. - The supply of residential land should be adjusted based on demand to better match housing supply with market needs, preventing significant price fluctuations [2]. Group 4: Risk Mitigation - Improving the financial situation of real estate companies and reinforcing the responsibility for "guaranteeing housing delivery" are essential to mitigate risks [2]. - The ongoing coordination of real estate financing mechanisms and the "white list" system are helping to reduce the risk of project delays [2]. Group 5: New Development Model - The State Council highlighted the importance of constructing a new development model for real estate, focusing on long-term stability and systematic reforms across various sectors [3]. - The transition from primarily new housing to a balanced focus on both new and existing housing is expected, with an emphasis on improving the quality of both [3].