涉及专项债收储土地，二季度以来爆发式增长

Core Viewpoint - The article highlights a significant increase in the scale of land acquisition using special bonds by local governments since the second quarter, indicating a strategic move to address inventory pressures in the real estate market [1][4]. Summary by Sections Special Bond Land Acquisition Growth - Since the beginning of 2023, the scale of land acquisition using special bonds has been increasing monthly, with 171 cities announcing plans totaling 391.8 billion yuan and covering 6,565 hectares as of May 13 [2][5]. - In April alone, the area of land announced for acquisition reached 7,198 hectares, with a monetary value of 173 billion yuan, surpassing the total for the first quarter [2][5]. Impact on New Housing Market - If the announced land acquisition plans are realized, it could lead to a 54% year-on-year increase in new housing transaction volume for the first four months of 2025, reducing the national new housing inventory cycle by over two months [3][10]. - The theoretical building area from the planned acquisition exceeds 130 million square meters, which is more than half of the estimated new housing sales for the same period [10]. Regional Analysis - The majority of the planned land acquisitions are concentrated in third and fourth-tier cities, which account for 84% of the total area and 74% of the total acquisition cost [8]. - Among the cities, Zhengzhou leads with a planned acquisition of 273 hectares, while Xi'an has the highest total acquisition cost at 12.56 billion yuan [8][12]. Recommendations for Policy Optimization - The article suggests that local governments should expedite the conversion of "planned acquisitions" into "completed acquisitions" to enhance market stability [13]. - It also emphasizes the need for a transparent information mechanism to better identify inventory pressure across different urban areas, facilitating targeted policy measures [13].