房地产行业事件点评：深圳开启存量房收购，加快落实去库存政策

Investment Rating - The report maintains an "Overweight" rating for the real estate industry, suggesting a positive outlook for selected companies with strong financing and land acquisition capabilities [5][15]. Core Insights - The recent policy initiatives emphasize the acquisition of unsold residential properties for affordable housing, which is seen as a key strategy for inventory reduction and establishing a dual rental and purchase housing system [4][5]. - Multiple cities have begun implementing policies to support the acquisition of existing residential properties for affordable housing, indicating a broader trend towards addressing housing supply issues [4][12]. - The report highlights that the central bank's re-lending program for affordable housing has significantly increased, with a balance of 121 billion yuan as of June, up from 20 billion yuan in March, indicating strong financial support for these initiatives [4]. Summary by Sections Policy Developments - Since the announcement of the central bank's 300 billion yuan re-lending for affordable housing, several cities have issued guidelines for acquiring unsold residential properties, focusing on locations with good transportation and infrastructure [4][12]. - The report notes that over ten cities have released announcements regarding the collection of properties for affordable housing since mid-May, with specific criteria for property selection [4][12]. Market Outlook - The report suggests that the recent political meetings have reinforced the commitment to inventory reduction and the acquisition of existing properties for affordable housing, which is expected to accelerate market recovery [5][15]. - It is recommended to focus on leading real estate companies with strong financial capabilities and reasonable land reserves, as they are likely to benefit from the supportive policies [5][15].