CITIC Securities: Actively embrace the new cycle of real estate.

CITIC Securities pointed out that, assuming month-on-month increases in rents in some cities, supply being cheaper than renting is an important signal that housing prices have bottomed out. Policies are committed to reducing residents' home-buying burden, making buying a home increasingly cost-effective relative to renting. It is recommended that investors actively embrace the new cycle in real estate and are bullish on development companies and leading brokerage firms.