作为国内4个一线城市的广州，虽然和其他3个一线城市北京、上海、深圳相比，有一定的差距，甚至房价还低于福建省的厦门市，但依然属于一 线城市。其政策的变动和调整，依然牵动着人们的神经。这不，最近广州楼市限购松绑政策一出，立即引发了房地产市场强烈反响。业内人士认 为，广州楼市的这次松绑，是"精准调控"的举措，通过差异化政策的设计，既鼓励高收入人群入市置业，多买房，又推动普通家庭改善居住条 件，去换房。 广州楼市的这次松绑，将番禺、黄埔等城市外围区域，纳入了不限购的范围，同时，还放宽了社保缴纳年限要求。引人注目的，是允许已有住房 的家庭，在特定区域新增购房的名额。不过，有钱人会不会继续购房，不太好说；但普通家庭换房，如果条件允许，还有很有可能的。据有关数 据显示，在广州的存量住宅中，户型面积在90平方米以下的，在62%左右，所以说，不少家庭存在着改善的需求。 据报道，在珠江新城等核心区域，这次的政策为高收入人群，预留了特殊通道。虽然名义上还在限购，但通过"认房不认贷"、税费优惠等组合 拳，实际为多套房持有者扫清了障碍。某高端项目销售总监透露，新政后单日接待量激增300%，其中70%是咨询千万级豪宅的企业主（请注意， ...

重点监测 32 城合计成交总套数为 1.6 万套，环比上周增长 23.2%； 2025 年累计成交总套数为 36.5 万套，累计同比下降 3.4%。其中，一 线城市成交 4854 套，环比上周增长 29.6%，2025 年累计成交 10.5 万 套，累计同比增长13.2%；二线城市成交9134套，环比上周增长15.1%， 2025 年累计成交 21.6 万套，累计同比下降 9.8%；三线城市成交 1953 套，环比上周增长 55.5%，2025 年累计成交 4.4 万套，累计同比下降 3.5%。 2025 年 06 月 15 日 房地产 更大力度推动房地产市场止跌回稳 周观点：国常会强调进一步优化房地产政策 6 月 13 日，国常会召开，针对房地产行业，会议强调更大力度推动 房地产市场止跌回稳。相较于过往 2024 年 9 月政治局会议首次提出 "促进房地产市场止跌回稳"，到 2024 年 12 月中央经济工作会议强 调"持续用力推动房地产市场止跌回稳"，到本次强调"更大力度推 动房地产市场止跌回稳"，政策表述逐渐强化。 我们认为，6 月核心城市二手房销量增长放缓，部分区域新房开盘去 化分化加剧的背景下，调控 ...

Core Viewpoint - The Chinese real estate market is undergoing a profound cyclical transformation and a shift in development logic due to policy easing and market adjustments, with a notable divergence between core first- and second-tier cities and other regions [1][4] Market Dynamics - In Q1 2025, national commodity housing sales fell by 2.1% year-on-year, but core first- and second-tier cities like Shenzhen saw a nearly 70% increase in transactions, indicating a shift from scale expansion to quality competition and from demand driven by first-time buyers to improvement-driven demand [1][4] - High-end residential products are gaining traction, reflecting the scarcity of core assets in first- and second-tier cities, which are viewed as valuable investments in an inflationary and loose monetary environment [1][4] Company Performance - Jianfa Real Estate has successfully carved out a new niche in the high-end residential market through precise interpretation of land culture, innovative integration of technology and architectural aesthetics, and comprehensive upgrades in property services [1][4] - Jianfa Real Estate's sales ranking has improved from 53rd to the top 10 in the industry within a few years, achieving a total sales volume of 133.51 billion yuan in 2024, positioning it as the 7th in the industry [14] Product Innovation - Jianfa Real Estate is leading the industry with its deep exploration of land culture, innovative architectural expression, and forward-looking intelligent living experiences, as demonstrated in recent product launches in Beijing and Xiamen [4][10] - The "Wangfu Chinese Style" project in Beijing and the "Haipai Oriental" project in Xiamen showcase the company's commitment to high-end quality, with significant investments in materials and design that exceed typical residential standards [4][10] Service Enhancement - Jianfa Real Estate has developed a "Good House" concept that integrates functional, emotional, and asset values, continuously iterating its new Chinese-style product offerings to meet diverse consumer needs [11][13] - The company has established a "Good Service" system, focusing on enhancing customer experience and addressing pain points, with a new service product aimed at high-end clients that redefines property service standards [13][14]

Core Viewpoint - The real estate market in Chongqing has experienced significant price declines, with many properties now valued below their purchase prices, indicating a prolonged downturn in the housing market [1][2][5]. Market Trends - The average transaction prices for second-hand residential properties in Chongqing's top five districts have decreased by 13.5% to 24.4% compared to 2018 [2][11]. - The overall housing inventory in Chongqing is substantial, with a broad stock of approximately 42.7 million square meters, suggesting an estimated clearance period of about eight years [23][24]. Property Performance - Properties purchased by individuals like Xiao Yao have seen significant depreciation, with some homes losing up to 70% of their value since purchase [6][10]. - The second-hand housing market has seen a notable increase in listings, with over 280,000 properties available for sale, reflecting a 14.4% year-on-year increase [12][28]. Sales and Supply Dynamics - The supply of new residential properties has drastically decreased, with planned land supply for 2025 being only 35% of that in 2022, leading to a shift towards second-hand property transactions [28][29]. - The proportion of second-hand housing transactions has risen significantly, surpassing new home sales for the first time, indicating a changing market preference [28][29]. Economic Context - Despite the downturn in the real estate market, Chongqing's GDP has shown resilience, ranking fourth in China, which contrasts with the declining property prices [26][29]. - The government has implemented measures to alleviate the burden on homebuyers, including the cancellation of two-year resale restrictions and incentives for upgrading homes [28][29].

6月13日，《广州市提振消费专项行动实施方案（征求意见稿）》（以下简称：《征求意见稿》）中关于提振房地产市场消费的内容，引发市场关注，释放 了哪些信号？ 强调取消限购、限售、限价 《征求意见稿》最受关注的是提出：优化房地产政策，全面取消限购、限售、限价。 事实上，去年以来类似政策基本上已经放松到位：去年5月底起，广州全面解除限售；去年9月底起，广州全面解除限购。 取消限价此前虽未发布正式文件，但是实际已在执行，开发商仍要向有关部门进行价格备案，但官方不再提供指导价。 "所以此次表述也是一个强调和强化。同时也反过来要求各地后续实践过程中立足此类取消的导向，对于一些限制性措施要全面取消。这一举措旨在释放购 房需求，促进房地产市场活跃。类似政策都有助于激活更多购房需求和促进供求关系平衡。"上海易居房地产研究院副院长严跃进指出。 值得一提的是，此前广州把房贷利率定在3%，商业性个人住房贷款首付比例已统一调整为最低15%。此次再提降低贷款首付比例和利率，房贷利率和首付 比例还会下调吗？ 李宇嘉认为，下一步可能在降低利率方面会有一些动作。"近期，宽松的货币政策也明确了进一步引导贷款利率下行，前期降低存款利率（5年起存款利 ...

南都讯 记者王玮 发自北京 更大力度促进房地产市场止跌回稳的政策已在路上。据新华社消息，国务院 总理李强6月13日主持召开国务院常务会议，部署中国（上海）自由贸易试验区试点措施复制推广工 作，听取构建房地产发展新模式和推进好房子建设有关情况汇报，审议通过《关于进一步完善信用修复 制度的实施方案》，研究优化药品和耗材集采有关举措。 此次国常不仅就"好房子"建设作出部署，也对当前房地产市场的止跌回稳提出明确要求。会议指出，要 构建房地产发展新模式，对于促进房地产市场平稳、健康、高质量发展具有重要意义，要着眼长远，坚 持稳中求进、先立后破，有序搭建相关基础性制度。要扎实有力推进"好房子"建设，纳入城市更新机制 加强工作统筹，在规划、土地、财政、金融等方面予以政策支持。要对全国房地产已供土地和在建项目 进行摸底，进一步优化现有政策，提升政策实施的系统性有效性，多管齐下稳定预期、激活需求、优化 供给、化解风险，更大力度推动房地产市场止跌回稳。 就在6月13日国常会召开当天，广州市也释放了将全面放开房地产限购的消息。 13日，广州市发布的《提振消费专项行动实施方案（征求意见稿）》中，明确提出有序减少消费限制。 优化房地产 ...

意外也不意外。 我跟朋友开玩笑说，活久见，这大概是这几年地产人唯一的甜。 6月13日，也就是昨天，首个全面取消限购的超一线城市出现了，广州。 意外的是，看似还算平稳的超一线市场怎么就一下全面放开了；不意外的是，如果有这天到来的时候，那一定自广州始。 而且它还不是单一出击，新的旧的，集结了一箩筐政策，老广真的太客气。 别急，我们去看看这次广州全面放开到底是基于一个怎样的背景，看完你就有答案了。 一 首先，广州的成交并不差。这里的不坏我分两条线说。 不过相比广州地产人，我朋友圈更嗨的是非广州地产人。 确实，每到这时候，留给所有局外人最黏糊的东西不就是遐想么。 所以接下来会怎样，其他三个会跟么？ 首先是广州新房。 今年一季度，广州新房成交14453套，这个数字对比2022年、2023年同期确实低了，但跟过去三年各季度相比，不算跌相难看的数字。 同比2024年一季度，还涨了39%。 所以今年的新房数据不算难看。 其次是这里的二手住宅的成交。 这个数据更好看，1～5月二手住宅网签了46722套，同比涨幅17.82%。 其中，5月网签了9228套，同比涨幅16.79%。 数据源：克而瑞广州 数据源：广州市房地产中介协会 ...

6 月 13 日，最高层发声， 要更大力度推动房地产市场止跌回稳， 同时强调， 要扎实有力推进 " 好房子 " 建设。 机构认为 ， 止跌回稳 实现过程 将分三阶段，需保持耐心。 接下来， 与楼市相关的扶持救助 政策力度将进一步加大。 （图片来自海洛） // 最高层表态 // 6 月 13 日召开的国务院常务会议，明确指出构建房地产发展新模式对于促进房地产市场平稳、健康、 高质量发展具有重要意义。会议强调，要着眼长远，坚持 稳中求进、先立后破 ，有序搭建相关基础性 制度。同时， 要扎实有力推进 " 好房子 " 建设 ，纳入城市更新机制加强工作统筹，并在规划、土地、 财政、金融等方面予以政策支持。 会议还提出，要对全国房地产已供土地和在建项目进行摸底，进一步优化现有政策，提升政策实施的系 统性有效性。 通过多管齐下的方式，稳定市场预期、激活购房需求、优化供给结构、化解潜在风险， 更大力度推动房地产市场止跌回稳 。 // 中金： 止跌回稳分为3阶段 // 对于接下来市场走势，中金公司 6 月 9 日发布的 2025 下半年房地产行业展望指出， 市场已树立 " 止跌回稳 " 信心，但实现过程将分三阶段，需保持耐心。 ...

宏 观 研 究 降息当月为何贷款偏少？ 投资要点： 宏 观 点 评 贷款低基数下再度大幅少增，降息稳地产预期效果尚需观察，严控隐 债对应企业中长贷显著少增。5 月新增贷款 6200 亿，低基数下再度同比再 度大幅少增 3300 亿，呈现以下结构性特征：1）5 月降息对居民中长贷形 成小幅拉动，当月新增 746 亿，同比小幅多增 232 亿；但居民短贷再度净 减少 208 亿，同比多减 451 亿，综合来看，5 月居民户贷款同比少增 217 亿，当前房地产市场仍处于持续探底过程中，降息稳定预期效果尚需持续 观察。2）5 月与基建投资关联度较高的企业中长贷新增 3300 亿，低基数 下同比少增的幅度扩大至 1700 亿，年初至今延续降温趋势，凸显存量隐债 稳定置换的过程中，严控新增隐债的要求仍可能持续压制传统基建投融资 增速。3）5 月短期贷款、票据融资两项合计同比少增 546 亿，与 4 月降温 幅度接近，显示关税进入拉锯阶段，超预期冲击导致的企业短期融资行为 趋于缓和。5 月贷款余额同比小幅回落 0.1 个百分点至 7.1%。 政府债务持续扩张，低利率提升企业债券融资活跃度，共同推动社融 再度同比多增。5 月 ...

Group 1 - The core viewpoint of the article highlights the significant impact of Guangzhou's new real estate policy, which aims to stimulate the housing market by removing restrictions and optimizing financing options [1][3][4] - The policy includes the cancellation of purchase restrictions, sales restrictions, and price limits, as well as lowering down payment ratios and interest rates, which is expected to ease the financial burden on homebuyers [3][4][6] - Following the announcement, there has been a notable increase in property viewings in key districts, with a surge of 4-5 times in visitor numbers to sales offices [3][4] Group 2 - For developers, the removal of price limits provides greater pricing autonomy, but it also presents challenges, particularly in areas with high inventory where price reductions may be necessary to attract buyers [4][6] - The plan to invest 100 billion yuan in urban renewal and infrastructure improvements is expected to enhance living conditions and stimulate further housing demand, thereby reducing inventory levels [6][8] - The policy changes are seen as a strategic move to stimulate consumption and may serve as a model for other cities, potentially influencing the national real estate market [6][8] Group 3 - The new policy has already triggered a visible "chemical reaction" in the market, with a notable increase in high-end property viewings and some developers adjusting prices upward in response to demand [8][10] - The second-hand housing market is experiencing a surge in listings, particularly in the 3-5 million yuan price range, indicating a shift in market dynamics driven by the new policies [10] - The article suggests that the changes could lead to a healthier and more stable development path for Guangzhou's real estate market, contingent on effective market self-regulation and policy guidance [10]