【开源地产|地产周报】新房成交面积环比增加，完善房地产金融基础性制度

Core Viewpoint - The new housing transaction area has increased month-on-month, while the real estate financial system is being improved to stabilize the market [1][39]. Policy Aspect - The People's Bank of China has implemented a moderately loose monetary policy, emphasizing the importance of maintaining liquidity and aligning social financing with economic growth [2][8]. - Local governments are introducing measures to facilitate housing fund withdrawals for down payments, such as in Tianjin and Zhengzhou [2][9]. Market Aspect - In the 33rd week of 2025, the transaction area of new homes in 68 cities was 1.68 million square meters, a year-on-year decrease of 12% but a month-on-month increase of 4% [3][10]. - The transaction area of second-hand homes in 20 cities was 1.69 million square meters, with a year-on-year decline of 6% [23][20]. - Land transaction area in 100 major cities increased by 33% year-on-year, with a premium rate of 1.9% [26][32]. Investment Aspect - The land auction market in Shenzhen was active, with a plot sold for 8.64 billion yuan, achieving a premium rate of 34.81% [4][39]. - The total land area sold in first-tier cities increased by 100% year-on-year, while second-tier cities saw a slight decline [26][39]. Financing Aspect - The issuance of domestic credit bonds decreased significantly, with a total of 3.66 billion yuan issued, down 53% year-on-year and 81% month-on-month [5][32]. Weekly Market Review - The real estate index rose by 3.94% in the week, outperforming the broader market [36]. Investment Recommendation - The industry maintains a "positive" rating, anticipating further stabilization in the real estate market due to ongoing policy support [39][41].