Investment Rating - The report maintains a "Strong Outperform" rating for the real estate sector [5] Core Insights - The implementation of deed tax exemptions has significantly improved transaction data, with 364,000 households benefiting from tax reductions totaling 8.4 billion yuan, averaging 23,000 yuan per household. This policy is expected to stimulate housing demand [1] - In November, land acquisition by major real estate companies reached a new high for the year, with 30 companies acquiring land worth 90 billion yuan, marking a year-on-year increase of 181%. The average floor price in core cities rose by 67% compared to October [2] - The report anticipates a surge in property transactions in December due to year-end promotions by developers and a potential easing of policies from the Central Economic Work Conference [3] Sales Review (12.1-12.7) - A total of 23,980 units were sold across 34 monitored cities, reflecting a week-on-week decrease of 32.4%. Cumulatively, 868,000 units have been sold in 2024, down 23.6% year-on-year. First-tier cities saw a 26.6% decrease week-on-week [4][13] Land Supply (11.24-11.30) - The planned land supply across 100 cities was 3.742 million square meters, with a cumulative supply of 38.733 million square meters in 2024, down 30.6% year-on-year. The average floor price for land was 3,969 yuan per square meter, with a week-on-week decrease of 7.8% [4][36] Land Transactions (11.24-11.30) - The total area of residential land sold across 100 cities was 1.518 million square meters, with a cumulative total of 23.581 million square meters in 2024, down 19.5% year-on-year. The average transaction floor price was 4,695 yuan per square meter, reflecting a 28.1% decrease week-on-week [4][50]
房地产行业定期报告：契税减免利好落地，典型房企单月拿地年内新高
Huafu Securities·2024-12-08 12:36