新年楼市积极开局：北京新政效果初显

Core Viewpoint - The real estate market in 2026 is showing signs of stabilization with policies aimed at managing expectations, as evidenced by the performance during the New Year holiday period, which is critical for the first quarter's market outlook [1][5][6] Group 1: Market Performance - Key cities are experiencing a "partial warming and continued differentiation" in the market, with Beijing showing positive changes due to new policies that lower purchasing thresholds for new citizens and families with multiple children [1][2] - During the New Year holiday, Beijing's new residential sales reached 25,200 square meters (240 units), while the second-hand housing market saw a notable increase in viewing activity [2] - In Shanghai, the market displayed characteristics of "project differentiation and sustained heat," with only one new project launched during the holiday, indicating ongoing interest in certain developments [2][3] Group 2: Policy Impact - The new policies in Beijing, implemented on December 24, 2025, have positively influenced the market, leading to a recovery in the second-hand housing sector [2][3] - The reduction of the value-added tax on personal property sales from 5% to 3% is expected to lower transaction costs and stimulate both new and second-hand housing transactions [5][6] - The article published in "Qiushi" magazine emphasizes the urgency of stabilizing the real estate market and suggests that policies should be implemented comprehensively to avoid piecemeal adjustments [5][6] Group 3: Market Trends - The second-hand housing market in Shanghai saw over 22,000 units signed in December 2025, indicating a sustained demand driven by price stabilization and improved buyer confidence [3] - In Shenzhen, the market continued its year-end momentum, with significant sales in luxury properties and a high turnout for promotional events during the holiday [4][6] - The increase in viewing and signing activity in Shenzhen during the New Year holiday, with a 155% month-on-month rise in viewings, reflects a strong market recovery [4]