【Frequent Introduction of New Real Estate Policies at Local Levels, with Refined Efforts on Both Supply and Demand Sides】: In recent times, numerous localities have rolled out new real estate policies covering various aspects, with increasing levels of "granularity" in these measures. Following the "5·17" new policy, mortgage interest rates in most cities have seen notable declines, and down payment ratios have also begun to be adjusted. The majority of homebuyers remain highly attentive to housing provident fund policies, hoping for further "refinement" in these policies, including adjustments to loanable amounts and optimization of measures such as the conversion of commercial loans to provident fund loans.
Furthermore, several cities have successively announced policies for acquiring existing commercial housing stock in recent times. The China Index Academy believes that since July, policy optimizations have continued across the board, with an increase in the frequency of policy introductions. Currently, the policy environment on the demand side is more accommodative than in the previous cycle. In the short term, policies tailored to individual cities will be further implemented, granting local governments more autonomy in regulation and control. There remains potential for future optimization of policies on both the supply and demand sides in core cities.
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