China News Service, Beijing, April 25th. Title: The meeting of the Political Bureau of the CPC Central Committee explained new signals to the real estate market and clarified the "continuous consolidation" stable trend.

China News Service reporter Pang Wuji

The expression of the real estate market at the Political Bureau of the CPC Central Committee held on the 25th has changed. The meeting pointed out that we should accelerate the construction of a new model of real estate development, increase the supply of high-quality housing, optimize the acquisition policies for existing commercial housing, and continue to consolidate the stable trend of the real estate market.

Compared with the Central Economic Work Conference held at the end of last year and the Government Work Report of this year's National People's Congress and the National People's Congress, the statement of the real estate market at this year's National People's Congress has become "continuously consolidating the stability of the real estate market", reflecting that since the fourth quarter of last year, various policies to stabilize the real estate market have been effective, and the real estate market has continued to move towards a direction of stopping the decline and returning to stabilizing.

As a leading indicator for observing the trend of the real estate market, the land market in some cities in China has been active since the beginning of this year. According to statistics from the China Index Academy, in the first four months of this year, the average monthly premium rate of land transactions in 22 key cities rose from 5%-10% at the end of last year to about 20%.

Analysts believe that under this new situation, this Politburo meeting has promoted the real estate market into a new stage of "solidating stock" and "expanding incremental growth", "quality improvement" and "stable quantity", and coordinated short-term stability and long-term development, thus promoting the real estate market into a new stage of "volume stability and quality improvement".

First, "optimize inventory" and "expand incremental" are in parallel.

In terms of optimizing the stock, this meeting mentioned that efforts should be made to implement urban renewal actions, and the renovation of urban villages and dilapidated houses will be vigorously and orderly; and the acquisition policy for existing commercial housing will be optimized. The optimization and adjustment of stocks is also conducive to the activity of the incremental market.

Li Yujia, chief researcher of the Guangdong Provincial Housing Policy Research Center, believes that the scope of urban renewal includes urban municipal infrastructure renewal, old community renovation, urban villages and dilapidated old house renovation, etc. Its role in stabilizing investment and driving upstream and downstream industries is very significant. In the next step, the urban renewal action is expected to welcome support from innovative special bonds, medium- and long-term treasury bonds, and innovative monetary policies.

Chen Wenjing, policy research director of China Index Academy, pointed out that with the advancement of urban renewal action, many cities have issued supporting housing ticket resettlement policies this year. According to China Index Monitoring, more than 20 places have optimized housing ticket policies this year. Recently, Xiamen has expanded the scope of housing ticket use to second-hand houses and continues to encourage housing tickets to purchase new houses, which will further open up the first and second-hand chains and promote the market inventory sales.

Wen Bin, chief economist of China Minsheng Bank, pointed out that the acquisition of existing commercial housing is an important means to promote the real estate market to stop falling and stabilize, ensure and improve people's livelihood. Local governments also face some bottlenecks in the implementation process. It is necessary to give city governments greater autonomy in terms of acquisition entities, prices and uses, and timely study and introduce new support measures.

Secondly, "quality improvement" and "quantity stabilization" are promoted simultaneously.

While the "combination punch" of the policy of stabilizing the real estate market to promote the stability of real estate transactions, the meeting clearly proposed to increase the supply of high-quality housing. Li Yujia said that an important tool to activate the demand in the real estate market at present is to use product innovations on the supply side such as "good houses" to drive and drive demand, thereby driving a virtuous cycle of new and second-hand houses, urgent and improved housing, which not only improves quality but also stabilizes the quantity. A major feature of the real estate market this year is that a large number of high-quality improved residential projects are concentrated in the market to activate demand.

Chen Wenjing pointed out that this year, "good houses" were written into the government work report for the first time. In March, the Ministry of Housing and Urban-Rural Development issued the national standard "Residential Project Specifications", which will be implemented on May 1. Some cities have also issued relevant standards for the construction of "good houses". It is expected that relevant policies will be further improved in the future, and more cities will implement standards and specifications to help the construction of high-quality housing. The supply of "good houses" is expected to increase.

Third, coordinate and balance short-term stability and long-term development.

While emphasizing "continuously consolidating the stability of the real estate market", the meeting also proposed to accelerate the construction of a new model of real estate development.

Chen Wenjing said that accelerating the construction of a new model of real estate development will be conducive to the stable and healthy development of the industry in the medium and long term. It is expected that more relevant supporting policies for new models will be further improved and implemented in 2025.

Zhang Bo, director of 58 Anjuke Research Institute, believes that this marks a clearer path for the real estate industry to shift from scale expansion to quality improvement, and will also guide the real estate industry to transform from "incremental expansion" to "quality competition". (End)