20240127-东吴证券-房地产行业点评报告_广州放松限购政策_房地产供需政策有望持续加码_2页_427kb

Guangzhou has implemented a significant relaxation of its real estate purchase restrictions, with measures that include exempting the purchase of properties over 120 square meters from the限购 policy and allowing the reduction of household housing counts for rentals or listings. This follows earlier policies like "recognize home but not loans," indicating a response to central government directives for increased financial support in the real estate sector.

The policy is expected to stimulate demand for home swaps and improvements, potentially boosting sales and investment. Guangzhou's actions serve as a demonstration for other cities, with national trends suggesting broader policy relaxations ahead.

For investment, the report recommends focusing on companies such as保利发展、招商蛇口、越秀地产 and万科A、新城控股. Risks include potential market slowdowns if policies don't yield results or if economic conditions worsen, affecting sales and credit stability.