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地产观潮丨公积金房贷利率明起下调,“好房子”项目增多……5月一线城市楼市热度有望延续
证券时报·2025-05-07 11:12

Core Viewpoint - The real estate market in major cities continues to show signs of recovery, driven by a series of supportive policies and a high level of transaction volume in April [1][3]. Group 1: Transaction Volume - In April, major cities like Beijing, Shanghai, Guangzhou, and Shenzhen maintained high transaction volumes for commercial housing [3]. - However, compared to March, most cities experienced a month-on-month decline in transaction volume, indicating a return to normalcy after a peak in March driven by school district housing demand [4]. Group 2: Policy Impact - The People's Bank of China announced a reduction in the personal housing provident fund loan interest rate by 0.25 percentage points, effective from May 8, 2025, which is expected to lower the Loan Prime Rate (LPR) by approximately 0.1 percentage points [5]. - Various cities are adjusting policies to stimulate demand, such as offering electronic consumption vouchers for new home purchases and increasing the maximum loan limits for housing provident funds [10]. Group 3: Market Dynamics - The demand is primarily driven by first-time homebuyers and those upgrading their homes, who are sensitive to housing costs. The recent policy changes are expected to stimulate this segment of the market [9]. - The market is characterized by differentiation, with some cities experiencing pressure while others see increased interest in high-quality housing projects [10].