需求被激发，公积金新政提升楼市活跃度

Core Viewpoint - The recent reduction in personal housing provident fund loan interest rates by the People's Bank of China is expected to stimulate market activity and enhance housing affordability, particularly benefiting first-time homebuyers and those seeking to improve their living conditions [1][2][3]. Group 1: Policy Changes and Market Impact - The People's Bank of China announced a 0.25 percentage point reduction in personal housing provident fund loan interest rates effective from May 8, 2025, which has led to immediate positive effects on market activity in cities like Shenzhen [1]. - Following the new policy, Shenzhen saw a significant increase in housing transactions, with new home sales reaching 152 units and second-hand home sales at 128 units over the first weekend after the policy implementation [1]. - The number of second-hand home viewings in Shenzhen increased by 53% compared to the previous week, indicating heightened buyer interest [1]. Group 2: Buyer Behavior and Loan Preferences - In April, 17.9% of second-hand home buyers in Shenzhen opted for provident fund loans, up from approximately 13% at the beginning of the year, with an average loan amount of 1.28 million yuan [2]. - The new policy is seen as a means to alleviate monthly payment burdens for homebuyers and signal positive market conditions, potentially unlocking latent demand [2]. Group 3: Broader Market Trends - Other cities, such as Wuhan, have also introduced supportive housing policies, which, combined with the recent interest rate cuts, have resulted in a significant increase in new home sales, with daily transactions reaching 257 and 243 units on May 8 and 9, respectively, marking increases of 213% and 74% year-on-year [2]. - The overall trend in housing policy adjustments across various regions aims to enhance loan limits, lower withdrawal and loan thresholds, and increase the utilization rate of housing provident funds [2]. Group 4: Market Sentiment and Future Outlook - Experts suggest that the interest rate cut will significantly boost market confidence and positively impact housing demand, with high-quality projects expected to enter the market in major cities like Beijing, Shanghai, and Chengdu [3]. - The combination of favorable policies and the introduction of high-quality housing projects is anticipated to stimulate demand for both improved living conditions and property exchanges, leading to a continued recovery in the real estate market throughout May [3].