突发！中央会议敲定9 月楼市大招，普通购房者该慌还是该出手？

Core Insights - The central meeting has finalized significant policies for the real estate market in September 2025, aiming to stabilize the market amidst ongoing economic challenges [1][3]. Policy Adjustments - The real estate policies have shifted to a "loose mode" since the second half of 2024, with a continuation of this trend into 2025, particularly in first-tier cities where restrictions on purchases are being relaxed [3]. - Notable changes include the reduction of down payment ratios to historical lows, with first-time homebuyers now able to secure loans with as little as 15% down, and mortgage rates declining, with some cities seeing rates drop below 3.5% [3]. - The central bank has implemented multiple reserve requirement ratio cuts and interest rate reductions to enhance liquidity and encourage financial institutions to support real estate companies [3]. Intentions and Goals Behind Policies - The policies aim to stabilize the real estate market, which is crucial for macroeconomic stability, and to support the development of related industries such as construction and home appliances [5]. - There is a focus on meeting reasonable housing demands as urbanization progresses and living standards rise, allowing more residents to achieve homeownership [5]. - The adjustments also encourage the transformation of the real estate sector towards more sustainable and diversified development models, promoting investments in green buildings and smart homes [5]. Current Market Analysis - The supply-demand relationship shows that new construction starts are lagging behind sales, leading to price declines in new homes, while inventory turnover periods in cities like Hangzhou and Chengdu have decreased to 14 months [6][8]. - In contrast, demand is constrained by economic slowdowns and stagnant income growth, particularly in third- and fourth-tier cities where population outflows are prevalent [8][10]. Price Trends - Nationally, new home prices have been declining for 18 consecutive months, with first-tier cities experiencing price drops in both new and second-hand homes [9]. - However, there is a divergence in price trends, with first- and second-tier cities like Hangzhou and Chengdu seeing increased demand and potential price increases of 3%-5% in core areas during the "golden September and silver October" period [9]. - Third- and fourth-tier cities are expected to continue facing downward price pressures due to high inventory levels and population declines, leading to promotional pricing strategies by developers [10]. Strategies for Homebuyers - First-time homebuyers are encouraged to act decisively in the current market, taking advantage of low interest rates and relaxed policies to secure properties in well-located areas [11][12]. - Buyers looking to upgrade their living conditions should focus on special offers and consider the timing of property sales to optimize their housing quality [13]. - Real estate investors are advised to be cautious, particularly in third- and fourth-tier cities, while focusing on long-term value in first- and second-tier city core areas [14]. Conclusion and Outlook - The policies introduced in September 2025 are designed to promote a stable and healthy real estate market, with a focus on meeting housing needs and enhancing living standards [15]. - The market is expected to gradually return to its residential property focus, with improved supply-demand dynamics and more stable price trends in the long run [15].