中央鼓励收房

Core Viewpoint - The central economic work conference emphasizes the need to stabilize the real estate market, focusing on policies tailored to specific cities to control new supply, reduce inventory, and improve supply quality [1][3]. Group 1: Market Trends and Adjustments - The real estate market in China is entering a critical phase of deep adjustment and structural reshaping in 2025, with a significant decrease in unsold housing inventory for eight consecutive months, totaling 75.606 million square meters [3]. - The current urban development landscape indicates that real estate construction is no longer on a "blank slate" but rather involves updating existing conditions [2]. Group 2: Inventory Management Strategies - The primary strategy for reducing inventory involves "optimizing existing stock and controlling new supply," with a focus on encouraging the acquisition of existing properties for use as affordable housing [4]. - Local governments, such as Guangzhou, are actively pursuing the acquisition of existing properties to be repurposed for affordable housing, increasing their acquisition efforts [5]. Group 3: Policy Initiatives and Market Support - The conference highlights the need to deepen housing provident fund reforms to enhance its role in the market, with over 260 policies introduced nationwide since 2025, aimed at increasing loan limits and expanding usage [6]. - The approach to controlling new supply is not merely about reducing land supply but involves optimizing the structure under total control, aligning with the construction of "good houses" [6]. Group 4: Quality Development Focus - The emphasis on "good house" construction is seen as a key aspect of high-quality development in the real estate sector, shifting focus from scale expansion to quality enhancement, including green, smart, and elderly-friendly designs [6]. - The industry is transitioning from a model characterized by high turnover and leverage to one focused on inventory operation and prioritizing quality, marking a significant shift in the real estate development paradigm [6].