专项债收储计划密集发布！二季度迎爆发式增长

Core Viewpoint - The scale of land acquisition using special bonds by local governments has seen explosive growth since the second quarter of this year, indicating a significant shift in the real estate market dynamics [1][3]. Group 1: Land Acquisition Scale - As of May 13, 171 cities have announced plans for land acquisition using special bonds, with a total acquisition amount reaching 391.8 billion yuan and a total area of 6,565 hectares [2][3]. - In April alone, the area of land announced for acquisition reached 7,198 hectares, involving 173 billion yuan, surpassing the total amounts from the first quarter [2][3]. - The majority of the land acquisition is concentrated in third and fourth-tier cities, which account for 84% of the total area and 74% of the total acquisition amount [3][4]. Group 2: Impact on Housing Market - If the announced land acquisition plans are fully realized, it is estimated that the new housing transaction area will increase by at least 54% year-on-year for the first four months of 2025, significantly reducing the inventory turnover period by over two months [2][5]. - The theoretical building area from the proposed land acquisition exceeds 130 million square meters, which is more than half of the estimated new housing sales for the first four months [5]. Group 3: Recommendations for Policy Optimization - The special bond land acquisition policy has entered a phase of intensive announcements, which is crucial for improving market supply-demand expectations and supporting the real estate stabilization policy framework [6]. - Recommendations include accelerating the conversion of proposed acquisitions into actual acquisitions and enhancing the transparency of information regarding land ownership, regional distribution, and development progress to better identify inventory pressure in different city sectors [6].