Securities Times: The second-hand housing market in first-tier cities shows resilience, with expectations for continued recovery in the second half of the year.

In the first half of this year, national real estate policies continued to be optimized and adjusted, with first-tier cities like Beijing, Shanghai, Guangzhou, and Shenzhen taking the lead in signaling stabilization and recovery, resulting in a restoration of market expectations. Entering July, the traditional off-season, the real estate market has exhibited new structural characteristics. On-the-ground reports reveal that the second-hand housing market has moved away from the previous trend of same rise, same fall, with differentiation continuing to deepen between different locations and price segments. Industry insiders believe that policies should be optimized in response to these changes; the current focus of real estate policies is no longer limited to short-term stimulation of market transactions. Urban renewal, the construction of a good housing system, and comprehensive support for housing consumption are becoming the core areas of focus for policies in the next stage.