SINOLINK SECURITIES·2025-07-13 07:55Investment Rating - The report indicates a positive investment outlook for the real estate sector, suggesting a "buy" recommendation for stocks in this industry due to recent price recoveries and potential policy support [7]. Core Insights - The A-share real estate sector saw a significant increase of +6.1% in the week of July 5-11, outperforming other sectors, while the Hong Kong real estate sector rose by +0.6% [3][17]. - There is an expectation for new stimulus policies to be introduced, particularly in light of the upcoming Central Urban Work Conference, which historically has influenced urban development strategies and real estate policies [5][13]. - The trend of Real World Asset (RWA) tokenization in the real estate sector is emerging, enhancing liquidity and providing new financing options for real estate companies [6][15]. Summary by Sections Market Performance - The A-share real estate sector ranked first among all sectors with a weekly increase of +6.1%, while the Hong Kong real estate sector ranked sixth with a +0.6% increase [3][17]. - The property service index in Hong Kong increased by +1%, indicating a stable performance relative to other indices [25]. Land Market - In the week of July 5-11, the total area of residential land sold across 300 cities was 445 million square meters, reflecting a week-on-week decrease of 48% and a year-on-year decrease of 24% [26]. - The average premium rate for land transactions was reported at 8%, with a cumulative area of 19,016 million square meters sold since the beginning of 2025, showing a year-on-year decline of 3.8% [26][29]. New Housing Sales - In 47 cities, new housing sales totaled 261 million square meters, with a week-on-week decrease of 49% and a year-on-year decrease of 14% [33]. - Sales in first-tier cities decreased by 45% week-on-week and 17% year-on-year, while second-tier cities saw a 53% week-on-week decrease and a 10% year-on-year decrease [33]. Second-Hand Housing Sales - The total area of second-hand housing sold in 22 cities was 229 million square meters, with a week-on-week decrease of 4% and a year-on-year decrease of 2% [41]. - First-tier cities experienced a 13% week-on-week decrease and a 6% year-on-year decrease, while second-tier cities saw a 2% increase week-on-week but an 8% decrease year-on-year [41]. Policy Expectations - The anticipation of new policies is growing due to recent declines in real estate data, with expectations for the Central Urban Work Conference to guide future policy directions [5][13]. - Historical insights from previous conferences indicate a focus on urban development and potential support for the real estate sector [5][13]. RWA Tokenization - The report highlights the development of RWA tokenization in real estate, which allows for the division of property ownership into tradable tokens, thereby increasing liquidity and providing new investment opportunities [6][15].