房地产行业第21周周报：本周新房成交同环比均正增长，国新办“持续推进城市更新行动”发布会提出支持财政、金融等手段保障旧改资金-20250527

Investment Rating - The report indicates a positive outlook for the real estate sector, with new home sales showing growth both month-on-month and year-on-year [1][5]. Core Insights - New home transaction area increased by 10.3% month-on-month and 6.1% year-on-year, marking a significant recovery from previous declines [5][14]. - The report highlights the government's commitment to urban renewal, with financial support measures announced to facilitate funding for urban renovation projects [1][89]. - The land market showed mixed results, with total land transaction area increasing by 37.6% month-on-month but total land price decreasing by 36.9% [59][63]. Summary by Sections New Home Market Tracking - In the week of May 17-23, 2025, new home sales in 40 cities reached 260.1 million square meters, with a month-on-month increase of 10.3% and a year-on-year increase of 6.1% [5][21]. - The inventory of new homes in 12 cities was 8.748 million square meters, with a month-on-month increase of 0.3% and a year-on-year decrease of 17.5% [37][38]. Land Market Tracking - The total land transaction area across 100 cities was 1,535.2 million square meters, reflecting a month-on-month increase of 37.6% and a year-on-year increase of 25.8% [59][60]. - The average land price per square meter was 1,087.1 yuan, showing a month-on-month decrease of 54.1% and a year-on-year decrease of 15.7% [61][63]. Policy Overview - The report outlines various government initiatives aimed at supporting urban renewal and enhancing the real estate market, including the establishment of a special budget for urban renewal projects [89][90]. - Local governments, such as in Shanghai, are implementing measures to boost housing supply and improve living conditions through renovation of old neighborhoods [90][91]. Company Performance - The report suggests focusing on companies with strong sales and land reserves in core cities, such as Binjiang Group and Greentown China, as potential investment opportunities [5][89]. - Companies that have shown significant breakthroughs in sales and land acquisition since 2024, like Poly Real Estate Group, are also highlighted as attractive targets [5][89].