难！2025过半，楼市还在回稳…

Core Insights - The Xi'an real estate market in the first half of 2025 has undergone unprecedented changes, characterized by "unprecedented policy strength, localized land heat, continuous decline in new homes, and active second-hand housing transactions" Policy Developments - A significant policy announcement on June 19 introduced "five major areas and twelve measures," addressing land supply, financial support, quality housing, market circulation, and enterprise development, marking it as the most systematic and enforceable real estate document in recent years [2] - The housing provident fund contribution base will be raised starting in July, with a maximum contribution limit set at 31,716 yuan/month, aimed at enhancing the purchasing power of young civil servants, public institution employees, and state-owned enterprise workers [3] - The central bank's monetary policy remains accommodative, with the one-year Loan Prime Rate (LPR) reduced to 3.0% and the five-year LPR to 3.5%, signaling a commitment to stabilize the real estate market and maintain confidence [4] Financial Support - The provident fund loan interest rate for first-time homebuyers with loans over five years has been lowered to 2.6%, alongside new regulations allowing inter-city provident fund loans and usage for down payments, significantly optimizing the financing structure for home purchases [5] Housing Quality Standards - The introduction of the "Residential Quality Improvement Design Guidelines" aims to elevate housing standards across four dimensions: structural durability, green low-carbon, health comfort, and smart convenience, pushing developers to shift focus from location to product quality [6][8] Land Market Dynamics - In the first half of the year, 40 residential land parcels were sold, totaling a construction area of 360.6 million square meters, with an average transaction floor price of 7,413 yuan/square meter, reflecting a year-on-year increase of 23.6% [10] - The Port District has emerged as a competitive area for developers, with significant premium land transactions, including a record-breaking floor price of 11,707 yuan/square meter for a parcel near the Olympic Center [12] Second-Hand Housing Market - Despite a year-on-year price decline of 7.5% and a month-on-month drop of 0.7% for second-hand homes, transaction volumes have remained high, with a first-quarter net signing of 23,490 units, representing an 8.4% year-on-year increase [12] - The market is characterized by a high inventory of second-hand homes in older districts, leading to greater negotiation power for buyers in the high-end segment [12] Overall Market Outlook - The Xi'an real estate market is slowly recovering under the framework of "stable policies, warm finance, cold prices, and hot land," with a clearer policy bottom emerging, although restoring confidence will take time [12] - Future market direction will largely depend on the synergy of "policy implementation, net population inflow, and developer product strength" [12]