CITIC Securities: Real Estate Sales Performance in April is Relatively Dull, Land Market is Hot

Recently, the National Bureau of Statistics announced the operating situation of the real estate market in April 2025. In April, the monthly sales area of real estate was 63.69 million square meters, a decrease of 2.9% compared to the same period last year; the investment amount was 782.6 billion yuan, a decrease of 11.5% year-on-year. CITIC Securities believes that the performance of real estate sales in April was relatively flat, while the intensity of the land market was high.