消息面上，今年8月以来，北上深等一线城市陆续落地优化限购政策。9月19日，上海财政局发布《关于 优化调整本市个人住房房产税试点有关政策的通知》，这一通知是对8月25日上海楼市新政中关于完善 房产税部分的细化落地。国金证券指出，近期北上深等一线城市已落地优化限购政策，叠加需求旺季带 动基本面有望修复。此外8月地产数据显示当前仍然需要更多的政策出台以带动地产实现止跌回稳，政 策预期持续处于加码期。当前地产板块估值偏低，建议逢低配置地产股。 内房股普遍上扬，截至发稿，龙光集团(03380)涨3.74%，报1.11港元；碧桂园(02007)涨3.45%，报0.6港 元；中国海外宏洋集团(00081)涨2.85%，报2.53港元；世茂集团(00813)涨2.56%，报0.4港元。 ...

Group 1 - The Shanghai Composite Index has re-entered the 3500-point mark after nine months, with trading volume exceeding 1 trillion yuan for 31 consecutive days, which has encouraged investors [1] - Investors are experiencing confusion due to the rapid rotation among sectors such as pharmaceuticals, technology, new energy, and banking, leading to difficulties in decision-making [1] Group 2 - Northbound capital, often referred to as "smart money," has shown a significant inflow trend from Q4 2024 to Q2 2025, with the construction and decoration sector receiving the most attention [2][4] - The construction and decoration sector is benefiting from a shift in supply-demand dynamics due to government policies aimed at reducing "involution" in the industry, which has been struggling with oversupply [4][5] Group 3 - Recent government policies are expected to boost the real estate sector, which in turn will positively impact the construction and decoration industry [4][5] - Two main strategies for investors to follow Northbound capital include investing in ETFs that track the China Securities Index for infrastructure and construction materials [6] Group 4 - Specific ETFs tracking the China Securities Index for infrastructure have shown stable returns, with the Yinhua China Securities Infrastructure ETF achieving a return of 9.00% [8] - ETFs tracking the China Securities Index for construction materials have outperformed those for infrastructure, with the Guotai China Securities Construction Materials ETF returning 12.92% [9]