Middle Finger Research Institute: The sales volume of new houses and second-hand houses in key cities in January decreased both month-on-month and year-on-year.

On February 10th, the China Index Research Institute stated that the transaction area of new houses in 30 cities on January 30 decreased by 52.2% month-on-month and 11.7% year-on-year; the transaction volume of second-hand houses in 20 cities decreased by 39.7% month-on-month and increased by 4.1% year-on-year. The available area of new houses in 10 cities decreased by 1.7% month-on-month. Land market: In January, the overall supply and demand of monitored cities decreased year-on-year, with a decrease of over 20% in the amount of land released. Overall transaction volume decreased while prices increased, with transaction volume in first-tier cities decreasing by nearly 70%. The total amount of land transfer fees increased by nearly 10% year-on-year, with Beijing leading at 28 billion yuan. The Huangpu River Delta region saw a high density of residential land entering the market, accounting for 13 spots on the total amount of land transfer fees list. Enterprise: Real estate companies mainly use corporate bonds and medium-term notes for non-bank financing, and some companies obtain funds through short-term financing instruments. The SUNAC Chongqing Bay project introduced funds from the Great Wall Risk Asset, injecting 2.476 billion yuan to revitalize it. Gree Real Estate has completed the transfer of major asset swaps and related transactions. Xiamen C&D Inc. signed a strategic cooperation agreement with the government of Changshu City. Policy: The State Council researches on promoting urban renewal work; the Ministry of Finance pointed out that within the newly issued special bond quota for 2025, local governments can arrange funds for land reserves and acquisition of existing commercial buildings as needed; Xiamen, Jinan, and other places optimized their housing provident fund policies, while Guangzhou Nansha District and Beijing optimized the land supply structure, and Hangzhou, Wuhan East Lake High Technology Group, and other areas provided housing subsidies. Transactions: The sales scale of new and second-hand houses in key cities in January decreased compared to the previous month. New housing market: The transaction area of new houses in 30 cities in January was 8.07 million square meters, a decrease of 52.2% month-on-month and 11.7% year-on-year. In January, the transaction volume of new houses in first-tier cities was 2.08 million square meters, a decrease of 45.4% month-on-month and 5.5% year-on-year. Among them, the transaction area of new houses in Shenzhen and Guangzhou increased year-on-year, with Shenzhen increasing by 140.6% and Guangzhou by 48.2%. The transaction volume in second-tier cities represented by 4.71 million square meters decreased by 56.7% month-on-month and 12.8% year-on-year, with Wenzhou increasing by 11.6% month-on-month and Nanning increasing by over 70% year-on-year. The transaction volume in third and fourth-tier representative cities was 1.28 million square meters, a decrease of 41.7% month-on-month and 16.5% year-on-year. Second-hand housing market: The transaction volume of second-hand houses in 20 cities in January was 98,960 units, a decrease of 39.7% month-on-month and an increase of 4.1% year-on-year. In January, the transaction volume of second-hand houses in first-tier cities was 33,828 units, a decrease of 43.4% month-on-month and an increase of 4.5% year-on-year. Among them, the transaction volume of second-hand residential properties exceeded 18,000 units in Shanghai, a year-on-year increase of 12.1%, and 4,682 units in Shenzhen, a year-on-year increase of 32.8%. The transaction volume of 5.41 million units in second... Inventory: The available area of new houses in 10 cities in January continued to decrease month-on-month. The monitored 10 representative cities saw a 1.7% month-on-month decrease in the available area of new houses. In first-tier cities, Shenzhen still had the largest decrease in available area, with a 15.6% month-on-month decrease in inventory area in January; in second-tier cities, Fuzhou saw a decrease of over 6% in inventory area in January, while Hangzhou and Xiamen saw decreases of 3.1% and 2.2% respectively, with inventory levels slightly falling. Land Overall market: Overall supply and demand decreased year-on-year, with a decrease in transaction volume In January, the overall supply and demand of monitored cities decreased year-on-year, with a decrease of over 20% in the amount of land released. Overall transaction volume decreased while prices increased, with transaction volume in first-tier cities decreasing by nearly 70%. The total amount of land transfer fees increased by nearly 10% year-on-year, with Beijing leading at 28 billion yuan. The Huangpu River Delta region saw a high density of residential land entering the market, accounting for 13 spots on the total amount of land transfer fees list. Cities of different tiers: Land transfer fees in first-tier cities decreased, while average prices in second-tier cities dropped The total amount of land transfer fees in first-tier cities decreased by nearly 50% year-on-year, while the average transaction price increased, and the transaction volume decreased by nearly 70%; in second-tier cities, the supply decreased by... Land transfer fees: The total amount of land transfer fees increased year-on-year, with Beijing leading at 280 billion yuan The total amount increased year-on-year, with cities in the Huangpu River Delta region occupying 13 spots on the list. First-tier cities accounted for nearly 40% of the total land transfer fees, with Beijing leading with 280 billion yuan. Top 10 Residential Land Prices: The total amount increased year-on-year, with residential land in Beijing's Haidian District ranking first The total amount increased year-on-year, with a threshold for entry of 21.8 billion yuan; first-tier cities occupied 7 spots on the list, with residential land in Beijing's Haidian District leading at 9.15 billion yuan. Top 10 Residential Land Prices per Unit: The average price increased year-on-year, with residential land in Beijing's Haidian District leading The average price increased by over 70% year-on-year, with a threshold for entry of 29,425 yuan/m; first-tier cities occupied 7 spots on the list, with residential land in Beijing's Haidian District topping the list in unit price.