（原标题：有人急"上车"，有人仍观望，上海楼市新政满一周，一线调研来了！） 【导读】上海楼市新政后首个周末，一线调研揭示真实市场反应 有项目一天卖出4套 中国基金报记者 吴君 孙越 8月25日，上海发布楼市最新政策，明确放宽外环外套数限制、统一单身与家庭购房标准，同步优化公 积金政策、调整信贷政策、完善房产税政策，多维度推动房地产市场平稳健康发展。 新政落地首个周末，市场反应如何？记者走访上海多个新盘售楼处，并采访多位业内人士。其表示，新 政后，市场迅速反馈，一线带看量、咨询量显著上升，部分热门楼盘交易活跃度大幅提高，有楼盘一天 卖出4套，转换率提升2～3倍。但市场仍是"冷热不均"，部分偏远或配套不足的楼盘，仍然面临去化难 题。 业内人士表示，市场恢复程度与项目本身素质、总价等因素密切相关，并非所有项目都能感受到热度。 有业内人士提醒，新政短期内对市场有强刺激效应，但后续提振效果能否持续，仍需观察。 带看量提升、转换率翻倍 "从周一开始，我已经带了5组客户看房，基本上是每天1组。之前的周一到周五，有1组带看就很不错 了。"一位从业10年的中介小张表示，他这周末也是安排得满满当当，周六有3组，周日也有。 小张告 ...

1. 央行降息：5年期LPR创纪录 2025年5月20日，中国人民银行授权全国银行间同业拆借中心公布，5年期以上LPR（贷款市场报价利率）降至3.5%，较前值下降10个基点 。这意味着： - 首套房利率进入2字头：北京、上海等一线城市首套房利率普遍降至3.05%，广州、深圳最低2.95%，100万贷款30年月供从4277元降至4044元，总利息节省 8.4万元 。 - 存量房贷同步减负：已买房的朋友若选择浮动利率，2025年重定价日后月供也会跟着降。以100万贷款为例，每年可省648元，相当于每月多喝两杯奶茶。 家住杭州余杭区的小李最近终于松了口气。 他和未婚妻原本为凑不齐30%的首付发愁，没想到7月杭州公积金新政出台，最高贷款额度从100万提到130万， 首付比例还降到20%。 更巧的是，女朋友单位刚发了人才房票，能直接抵扣15万首付。"现在月供从7000降到5200，压力小多了！"小李的经历，正是2025年楼市政策红利释放的缩 影。从央行降息到地方真金白银补贴，三大政策组合拳让购房门槛和成本双双"跳水"，没买房的朋友这次真的可以笑出声了。 一、房贷利率历史新低：30年省出一辆车 2. 公积金双降：刚需上车 ...

【导读】上海楼市新政后记者实探：成交量明显多了，客户下班后来看房、连夜签单 中国基金报记者 吴君 8月25日发布的 《关于优化调整本市房地产政策措施的通知》 是上海今年以来首次出台的楼 市新政，涵盖住房限购、公积金、住房信贷、住房税收等多项调整。 近两天，记者走访了链家、我爱我家等多个房产中介门店以及新房楼盘，实地调研了解新政 给市场带来的影响。有中介表示，新政后成交量明显多了，多个楼盘推出"今夜不打烊"活 动，通宵卖房。 记者看到，尽管是工作日的晚上，新房售楼处仍灯火通明、热闹非凡，不少年轻人下班以后 来看房，也有客户现场签单。 据一位资深中介透露，截至8月26日，他们公司合作盘认购量达40单，较新政前工作日日均单量 提升182%；外环外合作盘认购量为34单，较新政前工作日日均单量提升196%。 新政策出台后成交量明显多了 "客户说周末会出来看房" "本周一中午新政出来，这两天成交量明显多了。我们一个大区9家门店，正常一周时间成交 量在10单左右，但是8月25日一天就成交了7单，我们店签了两单，以前一周也就签两三 单。"一位门店中介告诉记者。 他讲了新政的变化：原来个人只能买一套，家庭买两套；现在非沪籍人士 ...

Group 1 - The "Six Measures" policy in Shanghai aims to optimize real estate regulations, including adjustments to housing purchase limits, housing provident fund, personal housing loans, and property tax [1] - The policy specifically targets the outer ring area of Shanghai, allowing eligible families to purchase an unlimited number of homes, thereby releasing significant purchasing power [2] - Following the implementation of the policy, two new residential projects in the outer ring area sold out immediately, indicating strong demand and effective market response [2] Group 2 - The second-hand housing market also experienced a surge in activity, with a reported 10% increase in overall signing volume after the policy announcement [3] - Real estate agencies reported significant increases in browsing and consultation metrics, with a 17% rise in browsing volume and a 14% increase in consultation volume compared to the previous period [3] - New listings in the second-hand market surged by 166%, and new customer inquiries increased by 40%, reflecting heightened market activity following the policy change [3]

Core Viewpoint - The new policies in Shanghai's real estate market, particularly the "Six Measures," aim to stimulate housing demand by relaxing purchase restrictions and adjusting loan rates, which is expected to boost market confidence and transaction volumes in the outer ring area [2][5][11]. Group 1: Policy Changes - The new policies allow families with Shanghai residency to purchase an unlimited number of properties outside the outer ring, while non-local residents with at least one year of social security contributions can also buy without restrictions [2][5]. - The policies enable single adults to be treated as resident families for housing purchase limits, potentially increasing the number of eligible buyers [11]. - Commercial mortgage rates will no longer differentiate between first and second homes, which is expected to lower the cost of purchasing improved housing [6][11]. Group 2: Market Reactions - Following the announcement of the new policies, there was a significant increase in inquiries from both homeowners and potential buyers, indicating heightened interest in the market [5][10]. - Real estate agents reported a surge in online consultations and appointment bookings for property viewings, suggesting a positive market response [8][10]. - Some homeowners are adjusting their property prices upward in anticipation of increased demand, while others are opting to wait and see how the market reacts [8][10]. Group 3: Impact on Buyer Demographics - The policy changes are expected to attract more single individuals into the housing market, as they can now purchase homes more easily under the relaxed regulations [11]. - The adjustments are seen as a way to retain talent and stimulate economic growth by making housing more accessible to young professionals and new residents [11]. - The upcoming traditional sales season, combined with these policy changes, is anticipated to further enhance market activity and transaction volumes [11].

Core Viewpoint - The recent real estate policy adjustments in Shanghai are seen as significant measures aimed at revitalizing the housing market, particularly focusing on purchase restrictions, public housing funds, and loan interest rates [1] Group 1: Policy Impact - The new policy allows eligible families outside the outer ring to purchase without restrictions, and increases the public housing loan limits, which are key focal points for the market [1] - The policy's implementation has led to a noticeable increase in market activity, particularly in the outer ring areas, with expectations of stabilizing the market [1][2] Group 2: Market Response - On the day the policy was announced, some projects reported a surge in visitor numbers, with one project noting over 100 groups visiting in a single afternoon, indicating a rebound in market confidence [2] - However, market performance is varied, with not all projects experiencing increased foot traffic, suggesting a need for time to gauge the full impact of the policy [2] Group 3: Seasonal Expectations - The upcoming "Golden September and Silver October" sales season is anticipated to further boost market activity, with expectations that the new policy will combine with promotional efforts from developers to enhance market vibrancy [3] - Developers are reportedly increasing marketing efforts, including limited-time discounts and incentives, to better capture potential demand [3] Group 4: Overall Market Outlook - The new policy signals a positive shift for the Shanghai real estate market, with expectations of gradually increasing transaction activity as the effects of the policy and seasonal factors unfold [4]

Investment Rating - The report maintains a "Recommended" rating for companies with a relative increase of over 15% compared to the benchmark index [4] Core Insights - The Shanghai government has implemented a series of policies to stabilize the real estate market, including reducing housing purchase restrictions and optimizing housing provident fund policies [1][2] - The new policies allow eligible residents to purchase an unlimited number of homes outside the outer ring and limit purchases to two homes within the inner ring [1] - The maximum loan amount for housing provident funds has been increased by 15% for buyers of new green buildings, with first-time homebuyers' limits raised from 1.6 million to 1.84 million yuan [2] - The report suggests that the relaxation of policies in Shanghai may serve as a model for other first- and second-tier cities to follow suit [2] Summary by Sections Policy Adjustments - The Shanghai government has introduced measures to reduce housing purchase limits for both local and non-local residents, with specific conditions based on social insurance or income tax contributions [1] - The housing provident fund policy has been optimized to support higher loan amounts and facilitate down payment withdrawals [2] Investment Recommendations - The report recommends focusing on residential developers with a strong reputation and ongoing land acquisitions in the Shanghai market, such as China Jinmao and China Merchants Shekou [3]

8月份，中国两大一线城市北京和上海相继出台楼市新政，进一步放宽住房限购等政策。 25日，上海出台楼市新政称，符合条件居民家庭在外环外购房不限套数；此前对单身人士的"单独限 购"政策也不再执行。10余天前，北京出台楼市新政，对符合条件家庭五环外不再限制购房套数。 58安居客研究院院长张波表示，上海限购政策调整方向和北京保持同步，也是针对市场需求不足的区域 进行针对性放松，政策利好上海松江、嘉定、青浦等五大新城外环外区域。 广东省住房政策研究中心首席研究员李宇嘉指出，目前上海外环外新房库存占全市的70%，消化周期普 遍超过20个月；同时，外环外二手房挂牌量占比达到近40%。此番上海优化限购政策，旨在激活多套房 购置需求，消化库存，特别是对新市民在外围购置第二套住房、为父母购置养老房产等，都将提供便 利。 除此之外，陈文静表示，上海进一步降低居民购房成本，明确不再区分首套、二套住房商贷利率，完善 房产税政策，整体力度较北京略大，政策范围更广，未来北京继续优化商贷利率、降低居民购房成本也 存在预期。 值得注意的是，近两年，一线城市在调整房地产政策时往往步调一致，例如在2024年年初以及2024年5 月末，均出现过多个 ...

Core Viewpoint - The new housing policy in Shanghai, effective from August 26, allows eligible families to purchase an unlimited number of homes outside the outer ring, while single adults are subject to the same purchasing restrictions as families. The policy also increases the personal housing provident fund loan limits, aiming to stimulate the housing market [1][4]. Group 1: Market Response - Following the announcement of the new policy, the sales center of Huafa Hongqiao Seasons in Qingpu District was well-lit but had few visitors, indicating a cautious initial response from potential buyers. Sales staff noted an increase in inquiries but expected a surge in foot traffic over the weekend [1][2]. - In the second-hand housing market, signs of increased activity were observed, although it was not yet at a booming level. Real estate agents reported a steady flow of inquiries but indicated that the overall customer traffic remained similar to previous evenings [2][3]. Group 2: Price Adjustments - Some landlords reportedly raised prices immediately after the policy announcement, with examples including a property in Minhang increasing its listing price by 200,000 yuan and another in Songjiang raising prices by 5,000 yuan per square meter [2][3]. - However, most sellers remained rational, with many hoping to expedite transactions rather than significantly increase prices. The prevailing market trend was still focused on "price for volume" rather than speculative price hikes [3]. Group 3: Loan and Financing Changes - The new policy optimizes the pricing mechanism for commercial personal housing loans, eliminating the distinction between first and second homes, which is expected to lower costs for second-home buyers. For instance, a loan of 1 million yuan over 30 years could see a monthly payment reduction of 220 yuan and a total interest savings of 80,000 yuan [3][4]. - The increase in personal housing provident fund loan limits and the support for using the fund for down payments are additional measures aimed at facilitating home purchases [3]. Group 4: Buyer Sentiment - Potential buyers expressed optimism about the new policy, with individuals like Wang Li indicating that it alleviates pressure for first-time buyers. Families, such as Tang Liping's, are also considering purchasing larger homes due to growing space needs [4]. - Industry insiders predict that the new policy will positively impact the Shanghai housing market by increasing transaction volumes while stabilizing prices for both new and second-hand homes [4].

Core Viewpoint - The recent adjustments in Shanghai's real estate policies are expected to provide a temporary boost to market sentiment, particularly in the local housing market [3]. Policy Adjustments - The new policies include the removal of purchase limits for local residents and non-local residents who have paid social security or taxes for over a year, as well as an increase in the purchase limit for single residents in the inner ring from one to two units [3]. - The policies also optimize housing provident fund loans, allowing for a 15% increase in loan limits for purchasing new green buildings and enabling the withdrawal of provident funds for down payments without affecting loan limits [3]. - The mortgage interest rate pricing mechanism will no longer differentiate between first and second homes, and property tax exemptions will be provided for non-local residents on their first home [3]. Market Reaction - Following the announcement, A-share developers' stock prices increased by 4.0%, outperforming the CSI 300 index by 1.9 percentage points, while H-share developers' stock prices rose by 2.0%, surpassing the Hang Seng China Enterprises Index by 0.2 percentage points [2]. - The overall performance of real estate stocks has been positive, with A-share developers up 6.9% and H-share developers up 9.8% since early August [4]. Future Outlook - The effectiveness of these policy adjustments is expected to be regional and temporary, with the overall improvement in real estate sales volume and prices still dependent on the implementation of policies related to inventory housing and urban village renovations [3][4]. - The recent policy changes in Shanghai align with similar measures taken in Beijing, both aimed at stimulating demand from potential buyers in peripheral areas and enhancing the purchasing power of first-time and upgrading homebuyers [3].