CICC: Shanghai introduces new real estate policies, expected to temporarily boost local market sentiment.

The research report of CITIC Securities Company stated that the new real estate policies in Shanghai are expected to temporarily boost local market sentiment. Following the new real estate policies introduced in Beijing on August 8th, Shanghai's real estate policy adjustments on August 25th were in line with previous expectations; in terms of policy effects, both focus on stimulating demand for multiple home purchases in peripheral areas and improving the purchasing power of both first-time buyers and upgraders, potentially boosting transaction volume and front-end listing prices in the short term. Looking ahead, the continuous improvement in overall real estate sales volume and prices still depends on the effective implementation of policies such as stock housing collection and urban village renovation, which will lead to sustained improvement in supply and demand dynamics, combined with the positive sentiment brought by adjustments in top-tier city home purchase restrictions. Considering the weak fundamentals of the current real estate market, the effects of recent policy adjustments remain regional and temporary, with sector trends largely influenced by market liquidity trends.