新房二手房周报：一线城市全面取消普宅非普宅标准，广州落地收储用作保障房

Investment Rating - The report maintains a positive investment rating for the real estate sector, indicating a "stop falling and stabilize" logic as the core rationale for investment [1]. Core Insights - The report highlights that the overall transaction area for new and second-hand homes has shown a significant month-on-month increase of 48.2% since November 1, 2024, despite a year-to-date decline of 14.2% [1]. - The report emphasizes the ongoing policy adjustments in major cities, including the complete cancellation of ordinary and non-ordinary residential standards in first-tier cities [1]. - The report suggests that the real estate sector's fundamentals are expected to undergo a long-term recovery, presenting investment opportunities in the sector [1]. Summary by Sections Market Overview - The total transaction area for new and second-hand homes in the week ending November 21, 2024, was 3.108 million square meters, reflecting a week-on-week decrease of 7.9% but a year-on-year increase of 9.7% [1]. - The cumulative transaction area for new and second-hand homes in 2024 is projected to increase by 21.9% year-on-year [1]. Key Company Announcements - China Merchants Shekou announced a share buyback of 4.43 million shares, accounting for 0.05% of the total share capital, with a total payment of 47.61 million yuan [1]. - Huafa Group plans to repurchase shares with a budget of up to 600 million yuan at a maximum price of 9.83 yuan per share [1]. - Binjiang Group acquired a land parcel with a total area of 30,000 square meters for 395 million yuan [1]. Transaction Data - In the week of November 15-21, 2024, the new home transaction volume in first-tier cities increased by 9% month-on-month and 37% year-on-year, while the cumulative year-on-year decline stands at 17% [1]. - The second-hand home transaction volume in the same period was 19,057 units, with a week-on-week decrease of 10% but a year-on-year increase of 23% [1]. Regional Insights - Guangzhou has initiated a program to acquire existing residential properties for use as affordable housing, reflecting a shift in policy to address housing needs [1]. - The report notes that various cities are implementing measures to enhance the real estate market, including adjustments to down payment ratios and loan limits for housing funds [1].