地产行业周报：深圳分区优化调控政策力度强于京沪

平安证券股份有...2025-09-09

周度观点：继京沪后，本周深圳进一步优化调控政策，与京沪一致，深圳成年单身人士按照居民家庭执行商品住房限购政策，同时利率定价机制安排方面不再区分首套住房和二套住房；但不同京沪仅在外围限购套数上松绑，深圳放开了除福田区、南山区及宝安区新安街道外其它区域社保要求，仅限购套数上有所差异，其中罗湖区及宝安区西乡街道首次纳入放松范围，对后续京沪进一步分区优化或有借鉴意义。参考北京、上海8月放松前后一周新房成交...

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href=http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20250909090835a717d762&s=b><strong>平安证券股份有...</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>周度观点：继京沪后，本周深圳进一步优化调控政策，与京沪一致，深圳成年单身人士按照居民家庭执行商品住房限购政策，同时利率定价机制安排方面不再区分首套住房和二套住房；但不同京沪仅在外围限购套数上松绑，深圳放开了除福田区、南山区及宝安区新安街道外其它区域社保要求，仅限购套数上有所差异，其中罗湖区及宝安区西乡街道首次纳入放松范围，对后续京沪进一步分区优化或有借鉴意义。参考北京、上海8月放松前后一周新房成交...</p>\n\n<a href=\"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20250909090835a717d762&s=b\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"IE00BVYPNQ40.USD","symbol_name":"GUINNESS ASIAN EQUITY INCOME \"C\" (USD) 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Shanghai","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"03121":0.6,"06049":0.9,"00688":0.9,"00123":0.9,"01908":0.9},"content_text":"周度观点：继京沪后，本周深圳进一步优化调控政策，与京沪一致，深圳成年单身人士按照居民家庭执行商品住房限购政策，同时利率定价机制安排方面不再区分首套住房和二套住房；但不同京沪仅在外围限购套数上松绑，深圳放开了除福田区、南山区及宝安区新安街道外其它区域社保要求，仅限购套数上有所差异，其中罗湖区及宝安区西乡街道首次纳入放松范围，对后续京沪进一步分区优化或有借鉴意义。参考北京、上海8月放松前后一周新房成交套数环比升56%和33%，二手房环比上升19%和15%，预计短期深圳楼市成交或将有所提振。一线持续放松叠加板块滞涨，重申短期关注板块轮动机会。短期市场风险偏好抬升，叠加楼市尚未企稳，资金倾向追逐弹性更大的板块，导致板块表现相对较弱。往后看，我们认为：1）一线城市持续放松提振市场政策预期；2）截止9月5日，地产年初至今涨幅仅1.81%，大幅跑输沪深300（13.35%），近期板块轮动明显加快，不排除板块轮动可能性；2）中报业绩压力逐步释放，优质个股性比价提升。投资建议：我们维持从中期维度拥抱受益行业发展趋势优质企业的观点，但考虑当前市场风险偏好抬升，投资者更关注近期股价兑现，短期从中报业绩及板块补涨角度，建议关注：1）涨幅相对靠后的A股地产龙头招商蛇口、保利发展；2）中报业绩稳定、受益“好房子”率先止跌回稳的建发国际集团、华润置地、滨江集团；3）中长期持续看好拿地及产品力强的低估值品质房企绿城中国、中国海外发展、越秀地产以及华润万象生活、保利物业、招商积余、中海物业、绿城服务、贝壳-W等细分领域龙头。政策环境监测：深圳分区优化调控政策。市场运行监测：1）新房成交环比回落，后市有待观察。本周(8.30-9.5)重点50城新房成交0.9万套，环比降47.1%，重点20城二手房成交0.9万套，环比降45.9%。9月（截至5日）重点50城新房月日均成交同比降66.1%，环比降57%；重点20城二手房月日均成交同比降29.6%，环比降34.7%。2）库存环比微升，去化周期21.6个月。截至9月5日，16城取证库存9129万平，环比升0.1%，去化周期21.6个月。资本市场监测：1）地产债：本周境内地产债发行73.9亿元。2）地产股：本周房地产板块跌1.48%，跑输沪深300（-0.81%）；当前地产板块PE（TTM）63.65倍，高于沪深300的13.98倍，估值处于近五年99.67%分位。","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"policyRegulatory","news_rank":0,"symbols":[],"gpt_button":1,"need_auth":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 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地产行业周报：深圳分区优化调控 政策力度强于京沪

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地产行业周报：深圳分区优化调控政策力度强于京沪