房地产行业第12周周报：本周楼市成交同环比持续正增长，1-2月统计局口径销售动能减弱-2025-03-26

Investment Rating - The report maintains a positive outlook on the real estate sector, indicating a potential for recovery and stabilization in the market [3][8]. Core Insights - The real estate market is showing signs of gradual recovery, with new home transaction volumes increasing on a month-over-month basis, although year-over-year growth is slowing [7][8]. - The report emphasizes the importance of demand-side policies to stimulate market activity, alongside the ongoing progress in urban renewal and land acquisition as key themes for 2025 [8]. - The report identifies specific companies that are well-positioned to benefit from the current market dynamics, including those with strong liquidity, significant market share in key cities, and robust product offerings [8]. Summary by Sections 1. New Home Market Tracking - In the week of March 15-21, 2025, new home transaction volumes in 40 cities reached 27,000 units, reflecting a month-over-month increase of 25.6% and a year-over-year increase of 2.5% [16]. - The new home transaction area was 2.947 million square meters, with a month-over-month increase of 23.7% and a year-over-year increase of 5.3% [27]. - Inventory levels for new homes are decreasing, with a total of 1.436 million units across 12 cities, showing a month-over-month decline of 0.2% and a year-over-year decline of 15.5% [29]. 2. Land Market Tracking - The land market is experiencing a rise in transaction volume but a decline in prices, with total land transaction area reaching 8.014 million square meters, a month-over-month increase of 83.0% but a year-over-year decrease of 44.4% [25]. - The total land transaction value was 12.55 billion yuan, reflecting a month-over-month increase of 56.5% and a year-over-year decrease of 58.8% [25]. 3. Policy Overview - Recent policy changes include increased loan limits for housing provident funds in Shenzhen and the launch of affordable housing projects in Guangzhou, aimed at stabilizing the real estate market [4]. 4. Company Performance - The report highlights companies such as Greentown China, China Resources Land, and China Merchants Shekou as key players with strong fundamentals and market presence [8].