中信证券：一线城市限购优化、降低购房成本等稳需求措施有望出台

Core Viewpoint - The upcoming Central Economic Work Conference is expected to focus on stabilizing expectations, markets, and preventing risks in the context of a declining real estate market and reduced investment and land transfer revenues [1] Group 1: Economic Policy Measures - The meeting is likely to introduce measures to optimize purchase restrictions in first-tier cities and reduce home buying costs to stabilize demand [1] - Short-term growth may come from revitalizing existing assets, with policies continuing to emphasize high-quality urban renewal as mentioned in this year's urban work conference [1] - Potential initiatives such as a real estate stability fund and the acquisition of affordable housing are expected to be proposed to alleviate inventory pressure and stabilize liquidity for real estate companies [1] Group 2: Long-term Structural Reforms - In the medium to long term, reforms in the household registration system, land system, and the establishment of a dual housing system (rent and purchase) are anticipated to become key components of a long-term mechanism for the real estate sector [1]