房地产及物管行业24年第48周周报：政策推动销量回升，地方购房补贴加厚

Investment Rating - The industry investment rating is "Buy" [3] Core Viewpoints - The report highlights that policy measures are driving a rebound in sales, with local housing subsidies enhancing purchasing power [3] - The new housing transaction volume has shown a significant increase, with new home transaction area reaching 576.01 million square meters, a 26.5% increase month-on-month and a 33.2% increase year-on-year [62] - The report emphasizes the importance of monitoring the implementation of policies and their impact on market sentiment and transactions [3] Summary by Sections 1. Industry Policy and Fundamental Tracking - Recent policies include relaxation of housing fund regulations in multiple cities, with significant subsidies introduced in Wuhan for families with multiple children [50][52] - The report notes that the Ministry of Housing and Urban-Rural Development is focused on consolidating financing mechanisms and ensuring the delivery of housing projects [50] 2. Key City Transaction Situation - The report provides data showing that in the week of November 22-28, 2024, the transaction area in 50 cities was 576.01 million square meters, with a month-on-month increase of 26.5% and a year-on-year increase of 33.2% [62] - The report indicates that first-tier cities like Beijing and Guangzhou have shown strong performance, with transaction increases of 70.9% and 38.7% respectively [74] 3. Key Company Tracking - The report includes a list of recommended stocks in the real estate sector, all rated as "Buy" with their respective reasonable values and earnings per share projections [7] 4. Real Estate Development Sector Investment View - The report suggests that companies with strong land reserves are likely to perform better as market sentiment improves, while those with weaker positions may struggle [3] 5. Property Management Sector Investment View - The property management sector has seen a rebound, with leading companies showing significant stock price increases [3]