Core Viewpoint - Shenzhen is accelerating the supply of residential land, with a recent requirement for "existing house sales" for a new residential plot, indicating a shift in the local real estate market strategy [1][2]. Group 1: Land Supply and Sales Policy - Shenzhen's Planning and Natural Resources Bureau has listed a residential plot (B405-0308) in Futian, with a land area of 4,994 square meters and a starting price of 480 million yuan, set for auction on December 10 [1]. - The plot requires all residential units to be sold as existing houses, marking the second instance of such a requirement in recent years in Shenzhen [1]. Group 2: National Trends in Existing House Sales - The Minister of Housing and Urban-Rural Development emphasized the need to reform the real estate development, financing, and sales systems, promoting existing house sales to mitigate delivery risks [2]. - In the first three quarters of this year, the total area of existing house sales reached approximately 23,305.93 million square meters, a year-on-year increase of 9.9%, accounting for 35.4% of total residential sales [2]. Group 3: Market Adaptation and Project Suitability - Existing house sales reduce delivery times and lower consumer rights protection risks, but they also increase cost pressures for real estate companies [3]. - Major real estate firms are advised to leverage their financial strength to adopt existing house sales, while smaller firms may need to collaborate on projects to adapt to this model [3]. - High-quality projects in hot urban areas, customized villas, and regions with high inventory and low consumer confidence are identified as suitable for existing house sales, which could help boost market confidence [3].

Core Viewpoint - Shenzhen is accelerating the supply of residential land, with a recent requirement for "existing house sales" for a new residential plot, indicating a shift in the local real estate market strategy [1][2]. Group 1: Land Supply and Sales Policy - Shenzhen's Planning and Natural Resources Bureau has listed a residential plot (B405-0308) in Futian, with a starting price of 480 million yuan, set for auction on December 10 [1]. - The plot requires all residential units to be sold as existing houses, marking the second instance of such a requirement in recent years [1][2]. Group 2: Current Market Trends - The concept of existing house sales is gaining traction, with a reported 23,305.93 million square meters of existing house sales area in the first three quarters of this year, a 9.9% increase year-on-year, accounting for 35.4% of total residential sales [2]. - Various provinces and cities have initiated pilot programs or policies to promote existing house sales since 2019, with recent measures in Pingjiang County, Hunan, mandating that new residential properties must be completed before sale [2]. Group 3: Industry Implications - Existing house sales reduce delivery times and lower consumer rights protection risks, but they also increase cost pressures for real estate companies [3]. - Major developers are advised to leverage their financial strength to adopt existing house sales, while smaller firms may need to collaborate or shorten development cycles to adapt [3]. - High-quality projects in hot urban areas and customized villa projects are seen as suitable for existing house sales, which could stimulate buyer interest and willingness to pay premiums [3].

最近一段时间，深圳加快了宅地供应速度，甚至再现要求"现房销售"的宅地。 近日，深圳市规划和自然资源局挂牌一宗宅地，地块编号B405-0308，位于福田梅林，靠近地铁9、10号线孖岭 站，土地面积4994平方米，建筑面积18550平方米，建筑高度小于100米，挂牌起始价4.8亿元，计划于12月10 日出让。 值得注意的是，根据出让公告，B405-0308宗地内的商品住房需全部实行现房销售。在业内人士看来，这是继 宝安机场东车辆段地块后，深圳土地市场近年来第二宗要求全现房销售的宅地。 那么，哪些项目适合实行现房销售？广东省住房政策研究中心首席研究员李宇嘉表示，热点城市的热点地块适 合打造高品质项目，现房销售激发购房动力，购房者也愿意支付高溢价；一些定制类的别墅项目，根据购房者 的个性化需求，打造所见即所得的产品；此外，还有同质化、高库存、问题楼盘比较多以及信心比较弱的区 域，也适合实行现房销售。在李宇嘉看来，现房销售是提振市场信心的关键因素之一。目前，提振市场信心是 房地产市场稳定的关键。 现房销售一直是业内较为关注的话题，近日出版的《〈中共中央关于制定国民经济和社会发展第十五个五年规 划的建议〉辅导读本》中刊登 ...

Core Viewpoint - The Chinese property stocks are experiencing a rise, driven by the implementation of new housing policies in various regions, particularly the promotion of "existing home sales" in Pingjiang County, Hunan Province, which is expected to stabilize the market in the long term [1] Group 1: Market Performance - Shimao Group (00813) increased by 13.21%, trading at 0.3 HKD - R&F Properties (02777) rose by 5.36%, trading at 0.59 HKD - China Resources Land (01109) saw a 4.45% increase, trading at 30.96 HKD - Oceanwide Holdings (03377) grew by 3.81%, trading at 0.109 HKD [1] Group 2: Policy Developments - On November 3, Pingjiang County in Hunan Province fully implemented existing home sales, marking it as the fourth region in China to do so after Xinyang, Jingmen, and Conghua District [1] - Zhongtai Securities reported that existing home sales can mitigate delivery risks and help stabilize the market, although it may not directly boost new home sales in the short term [1] Group 3: Future Outlook - GF Securities noted that there is currently a policy vacuum period, with no new statements from central or local governments ahead of year-end meetings [1] - Huang Qifan's proposals regarding the establishment of a reverse mortgage system for the elderly and other housing consumption models have garnered significant attention [1] - The exploration of new real estate models continues, with expectations for statements from the Political Bureau and the Central Economic Work Conference by year-end [1]

Investment Rating - The report rates the real estate industry as "Outperform the Market" [7] Core Views - The new housing transaction area has turned negative on a month-on-month basis, with a year-on-year decline expanding. The transaction area for new homes in 40 cities was 1.722 million square meters, down 34.8% month-on-month and down 47.0% year-on-year, with the year-on-year decline widening by 9.7 percentage points compared to the previous week [7][18] - The report highlights the implementation of a policy in Pingjiang County, Hunan, promoting the sale of completed homes, which is expected to enhance product quality and safety in the housing market [3][98] - The report expresses confidence in the future recovery of the real estate industry, suggesting that companies with strong liquidity, high market share in key cities, and innovative product offerings will have alpha attributes [7] Summary by Sections New Housing Market Tracking - In the week of November 1 to November 7, 2025, the new housing transaction area in 40 cities decreased significantly, with a year-on-year decline of 47.0% [17][18] - The inventory of new homes increased month-on-month but decreased year-on-year, with a depleting cycle of 18.7 months, indicating a mixed market condition [38][39] Second-Hand Housing Market Tracking - The transaction area for second-hand homes in 18 cities was 154.4 million square meters, down 6.6% month-on-month and down 31.9% year-on-year, reflecting ongoing market challenges [44][49] Land Market Tracking - The total area of land transactions in 100 cities was 27.091 million square meters, with a month-on-month increase of 29.4% but a year-on-year decrease of 9.0%. The total land transaction price was 65.34 billion yuan, up 29.1% month-on-month but down 10.9% year-on-year [61][66] - The average land price per square meter was 2,411.9 yuan, showing a slight decrease of 0.2% month-on-month and a decline of 2.1% year-on-year [61][66] Policy Overview - The report outlines several key policies aimed at stabilizing the real estate market, including promoting the sale of completed homes and optimizing housing supply mechanisms [3][98]

Group 1 - The State Council issued measures to promote private investment, including 13 targeted policies to expand market access for private capital in sectors like railways and nuclear power [2] - The Ministry of Transport announced the suspension of the 301 investigation measures against Chinese maritime, logistics, and shipbuilding industries, along with the suspension of special port fees for American vessels [2] - The National Development and Reform Commission and the National Energy Administration released guidelines to enhance the consumption and regulation of renewable energy, aiming for a multi-level system by 2030 [2] Group 2 - The eighth China International Import Expo concluded with a record intention transaction amount of $83.49 billion, a 4.4% increase from the previous year [3] - In October, retail sales of new energy passenger vehicles reached 1.282 million units, a year-on-year increase of 7.3%, while cumulative sales for the first ten months reached 10.151 million units, up 21.9% [3] - The Ministry of Industry and Information Technology plans to accelerate the development of applications in key areas such as 5G, AI, and industrial internet [3] Group 3 - On November 10, the A-share market saw a rebound, with the Shanghai Composite Index rising by 0.53% and the Shenzhen Component Index increasing by 0.18%, while the ChiNext Index fell by 0.92% [4] - Southbound funds through the Hong Kong Stock Connect net bought 6.654 billion HKD, bringing the total net purchase for the year to over 130 billion HKD, a record high since the mechanism's inception [4] Group 4 - As of the end of Q3 2025, the market value of public funds' investments in Hong Kong stocks reached 1.3255 trillion CNY, marking a new high [5] - The proportion of passive public funds' investments in Hong Kong stocks surpassed that of active funds for the first time since 2017, with 52.8% for passive and 47.2% for active [5] Group 5 - The U.S. stock market indices collectively rose, with the Nasdaq Composite Index increasing by 2.27%, driven by gains in major tech stocks [6] - Gold prices surged, with spot gold rising by 2.9% to over $4,115 per ounce, while silver increased by 4.6% to $50.56 per ounce [6] Group 6 - The real estate market is shifting towards a model where over 30% of sales are for existing homes, indicating a trend towards "seeing is believing" in home purchases [7] - The Shenzhen Shui Bei gold market is experiencing a chain reaction due to rising gold prices and new tax policies, leading to a new pricing structure [7]

现房销售又有新消息。 近日出版的《〈中共中央关于制定国民经济和社会发展第十五个五年规划的建议〉辅导读本》中，刊登 了住房城乡建设部部长倪虹的署名文章《推动房地产高质量发展》，其提出，在商品房销售上，推进现 房销售制，实现所见即所得，从根本上防范交付风险；继续实行预售的，规范预售资金监管，切实维护 购房人合法权益。 在受访专家看来，现房销售是房地产发展新模式中的关键领域，"十五五"时期现房销售制度将因城施 策、循序渐进推进。 实际上，步伐较快城市已着手推进相关工作。前不久，湖南省岳阳市平江县出台《全面推行现房销售 和"好房子"规划建设的若干措施（试行）》，明确在新出让土地上新建的商品房项目，竣工验收之后才 能启动商品房销售，这意味着平江县房地产销售市场全面进入"现房时代"。 此外，今年以来，河南信阳、湖北荆门、湖南邵阳等地发文，推动现房销售落地。 国家统计局数据显示，今年前三季度商品房现房销售面积累计值为23305.93万平方米，同比增长9.9%， 约占商品房销售面积的35.4%。 《中共中央关于制定国民经济和社会发展第十五个五年规划的建议》明确，加快构建房地产发展新模 式，完善商品房开发、融资、销售等基础制度 ...

现房销售又有新消息。 近日出版的《〈中共中央关于制定国民经济和社会发展第十五个五年规划的建议〉辅导读本》 中，刊登了住房城乡建设部部长倪虹的署名文章《推动房地产高质量发展》，其提出，在商品 房销售上，推进现房销售制，实现所见即所得，从根本上防范交付风险；继续实行预售的，规 范预售资金监管，切实维护购房人合法权益。 在受访专家看来，现房销售是房地产发展新模式中的关键领域，"十五五"时期现房销售制度将 因城施策、循序渐进推进。 实际上，步伐较快城市已着手推进相关工作。前不久，湖南省岳阳市平江县出台《全面推行现 房销售和"好房子"规划建设的若干措施（试行）》，明确在新出让土地上新建的商品房项目， 竣工验收之后才能启动商品房销售，这意味着平江县房地产销售市场 全面进入"现房时代"。 此外， 今年以来，河南信阳、湖北荆门、湖南邵阳等地发文，推动现房销售落地。 国家统计局数据显示，今年前三季度商品房现房销售面积累计值为23305.93万平方米，同比增 长9.9%，约占商品房销售面积的35.4%。 推进现房销售新信号 《中共中央关于制定国民经济和社会发展第十五个五年规划的建议》明确，加快构建房地产发 展新模式，完善商品房开 ...

（央视财经《天下财经》）2024年年底，全国住房城乡建设工作会议明确将"有力有序推行现房销售"列 为2025年住房和城乡建设部重点工作之一，目前，全国已有多地宣布推行现房销售政策。近日，湖南岳 阳平江县出台新规，成为湖南首个全面推行现房销售的县城。 彭依是岳阳平江县人，刚刚结婚，准备入手一套新房。在这个现房楼盘，她可以实地查看房屋情况、小 区环境和配套设施。 平江县这个临江楼盘，是一个4000亩的产城融合大项目。要在过去，企业早就搭起售楼部开始卖房。现 在只能埋头建设，为的就是早日完工，开始现房销售。 2024年以来，全国至少30个省市发布推进现房销售试点相关文件。多地相继推动现房销售，维护购房人 合法权益。 转载请注明央视财经 湖南平江县某楼盘负责人 吴琼良：倒逼我们把所有的品质细节做得更到位，包括我们整个的配套服务 和园林环境都要一并呈现给业主。 11月3日，平江县出台新规，全面推行现房销售，所有新出让土地上新建的商品房项目，必须竣工验收 之后才能启动商品房销售。考虑到房地产企业现房销售面临资金占用周期长、压力大的现实，平江县给 予了行政事业性收费减半、土地价格优惠等七大奖励。 湖南平江县副县长 夏海：主 ...

11月8日，住建部直属媒体《中国房地产报》用出一篇重磅文章 -- 《清理楼市不合理政策，"步子要快一点"》。 /首/席/财/经/跑/媒/体 2025年11月16日星期 太原12厘总第2309期 定价,RMB5.00 HK$8 स् 苏南 : 05 推"先住后买"消费方式 广州房企卷起体验式营销 房企摘出"先住后买"吕布时 除射房人"开自盆"的细意,是回 展"优国"需求的切实行动。通过 "先任后里"尊式,让客户对周目 的产品品质、杜区乐墙、社区配套 和制业服务等各方面做到"所以 llin (45) ≤si8 n 03-05 高培勇 普查一流营商环境 加快发展新质生产力 朱岩 未来房子应升级为 "数字空间 茅明睿 域市大模型为域市更新运营 注入"新质生产力" 保利和润李嘉琪 数据普班比出信语语言系统 贝好家武斌: 数据驱动C2M模式 破解房地产买方市场因局 千丁数科: 数字化驱动地产行业 新质生产力跃升 老板电器金志超: 让厨房成为"好房于 最温暖的注脚 = 11 智肖 以制度创新夯实房地产 高质量发展根基 实现假种产高质量发展,用 心在于加快构建房地产发展副模 式,而新模式的根基在十一系列 新聞制度的宗教。 0 ...