中经评论：房地产高质量发展有较大空间

Group 1 - The central economic work conference emphasizes stabilizing the real estate market, implementing city-specific policies to control new supply, reduce inventory, and improve supply, while encouraging the acquisition of existing residential properties for affordable housing [1] - From January to November, national real estate development investment decreased by 15.9% year-on-year, reflecting the implementation of control measures and market adjustments [2] - The supply-demand relationship in the real estate market has shifted from a state of shortage to a basic balance, with some areas experiencing oversupply, leading to a reasonable control of new land supply [2] Group 2 - The sales area of commercial housing has exceeded the new construction area, indicating effective inventory reduction, with some cities showing signs of stabilization due to solid fundamentals and supportive policies [3] - In November, second-hand housing transactions in major cities like Beijing, Shanghai, and Guangzhou saw significant month-on-month increases, with Guangzhou's average transaction price rising by 2.1% [3] - The new model for real estate development aims to promote high-quality growth by revitalizing existing stock and encouraging the construction of quality housing to stimulate demand [3] Group 3 - Real estate companies are encouraged to shift from large-scale land acquisition and development to creating high-quality housing that meets diverse residential needs [4] - Reforms in real estate development, financing, and sales are necessary, including strict regulations on fund management and promoting effective financing methods [4] - The ongoing urbanization process and the rising willingness of residents to upgrade their housing will continue to drive demand in the real estate sector [4]