Property Prices and Land Auctions in First-Tier Cities Show Strong Performance, Real Estate Sector Expected to Continue Recovery Trend

On April 16, Sheng Laiyun, Deputy Director of the National Bureau of Statistics (NBS), stated at a press conference of the State Council Information Office that the declines in funds available to real estate development enterprises and the scale of personal housing loans in Q1 narrowed by 3.8 and 4.7 percentage points, respectively. Data on housing prices in 70 cities showed improvements in price changes, whether in first-tier or second- and third-tier cities, and whether for new or second-hand homes. From this perspective, the effects of real estate regulation policies are becoming evident, and there was no sign of a softening real estate market in March. Liu Jinqi, Chief China Equity Strategist at Goldman Sachs, pointed out during an institutional dialogue on the 16th that some signs of stabilization in the real estate market have already been observed. Especially in first-tier cities, both housing prices and land auction activities have recently performed quite strongly. The real estate market is expected to receive more support in the coming months. According to the Caixin Theme Library, among the relevant publicly listed firms: 5i5j has long maintained a dominant position in the interconnected markets of housing sales and rentals. It is the earliest enterprise in China to engage in housing asset management business and has established a comprehensive and tightly coordinated residential service industry cluster. TeFa Service's core business is comprehensive property management services, covering various types such as park property, commercial property, residential property, public property, and energy property.