Policy News - The Central and State Offices proposed to increase the supply of affordable housing and support social forces in operating long-term rental housing [1] - The State Council emphasized the importance of constructing a new model for real estate development to stabilize and promote the market [1] Market News - In May, Beijing's Consumer Price Index (CPI) decreased by 0.2% month-on-month, with food prices down by 0.3% and non-food prices down by 0.2% [4] - There has been a significant push in various cities to acquire existing housing stock to convert into affordable rental housing, with approximately 90 cities announcing such initiatives since 2024 [5] Real Estate Company News - China Resources Land acquired three land parcels in Beijing, Nanjing, and Chongqing in May, with a total floor area of approximately 176,489 square meters and a total equity consideration of about 5.94 billion yuan [6] - Vanke sold all of its 72.96 million A-share treasury stocks, raising a total of 479 million yuan, which will help optimize its asset structure and replenish liquidity [7] - New City Development successfully issued $300 million in offshore bonds, marking the first issuance of private real estate offshore bonds in nearly three years, with a coupon rate of 11.88% [9] Sales Performance - China Merchants Shekou achieved a cumulative contracted sales amount of 67.146 billion yuan and a contracted sales area of 2.6553 million square meters from January to May [10] - China Jinmao reported a cumulative contracted sales amount of 37.747 billion yuan and a contracted sales area of 1.7462 million square meters during the same period [11] - Longfor Group's total contract sales amounted to 28.55 billion yuan with a sales area of 2.095 million square meters from January to May [12] - China Overseas Land & Investment reported a cumulative sales amount of approximately 10.42 billion yuan and a sales area of about 623,800 square meters [13] - CIFI Holdings recorded a total contract sales amount of approximately 8.85 billion yuan and a sales area of 879,700 square meters [14]

本报记者 李贝贝 上海报道 6月9日，上海闵房集团旗下上海市闵行公共租赁住房投资运营有限公司（下称"闵行公租房投资"）发布 《关于以公开收购方式筹集保障性租赁住房（阶段性房源）的公告》，面向社会公开征集符合要求的房 地产项目用作保障性租赁住房使用；6月10日至6月16日为报名时间。 截至目前，此次"收存转保"（将存量商品房通过市场化方式转作保障性租赁住房）工作报名情况如何？ 闵行公租房投资此次收购的资金来源又是什么？对此，6月13日，《华夏时报》记者根据公告披露的联 系方式致电相关负责人，但被对方告知"我们不接受采访"。 上海之外，近期多地接连发布收储商品房相关公告，持续推进"收存转保"。值得注意的是，今年5月， 浙江、四川率先发行收购存量商品房的专项债，意味着地方收购存量商品房进程取得了新突破。克而瑞 长租认为，随着征集节奏加快和资金配套多元化，"收存转保"模式有望在下半年更大规模落地，为保障 房供应提供新路径。 在此之前，2024年5月发布的"沪九条"明确"探索通过国有平台公司等主体收购适配房源，优化住房保障 供应"。同年，上海徐汇惠众公共租赁住房运营有限公司即收购了海波花苑70-73、75-78号的存量 ...

Core Insights - The acquisition of existing residential properties is accelerating, with multiple regions issuing announcements regarding the purchase of commodity housing for the purpose of converting them into affordable rental housing [1][2] - The "stock-to-safety" model is being implemented as a market-driven approach to revitalize idle housing resources, optimizing supply structure, and demonstrating policy sustainability and financial feasibility [2][4] Group 1: Acquisition Framework - Various local governments have established a unified framework for the acquisition process, with state-owned platforms acting as the purchasing entities, using construction costs plus reasonable profits as pricing benchmarks [1][2] - Specific requirements for housing types include a focus on small-sized units, with examples such as Dali requiring units not to exceed 70 square meters [1] Group 2: Implementation and Progress - As of 2024, approximately 90 cities have announced the acquisition of existing commodity housing for affordable housing purposes [2] - Cities like Hangzhou and Hefei have successfully completed property transfers, marking significant progress in the "stock-to-safety" initiative [2] Group 3: Funding Sources - The primary funding sources for the acquisition of existing commodity housing include housing rental group loans, affordable housing refinancing loans, and special bonds [3] - Special bonds issued for this purpose have interest rates ranging from 1.3% to 2.13%, with terms of 10, 20, or 30 years, making them a low-cost and long-term financing option [3] Group 4: Future Outlook - With the acceleration of the acquisition process and diversified funding support, the "stock-to-safety" initiative is expected to see larger-scale implementation in the second half of the year [4]