国君图说|地产:存量规划调整是房企和购房者的双赢策略

Investment Rating - The report indicates a focus on the adjustment of existing project planning as a new variable in the land market, which is beneficial for both real estate companies and homebuyers [2]. Core Insights - The adjustment of existing project planning significantly improves the liquidity of inventory for real estate companies by enhancing project cost-effectiveness, facilitating inventory reduction. For homebuyers, this adjustment effectively lowers the unit purchase cost by increasing usable area, making home purchases more affordable [2]. - As of the end of 2023, the total asset scale of A+H typical real estate companies has reverted to the levels seen in 2019-2020, indicating a high level of asset scale while still addressing inventory reduction [1][2]. Summary by Sections - Asset Scale: The total asset scale of A+H real estate companies is approximately at the level of 2019-2020, with a focus on inventory reduction [1][2]. - Project Planning Adjustment: The ongoing adjustment of existing project planning is a key strategy that enhances project value and liquidity, benefiting both developers and buyers [2].