1. The expansion and efficiency improvement of the real estate financing coordination mechanism, the "white list" should be fully included.

To promote the completion and delivery of housing projects and safeguard the legal rights and interests of home buyers, a city real estate financing coordination mechanism was established early this year. The Central Political Bureau meeting held in September proposed to increase the loan input for "white list" projects. Recently, the financial regulatory bureau, together with the Ministry of Housing and Urban-Rural Development, researched and developed a plan to expand and enhance the efficiency of the coordination mechanism's "white list" projects, pushing all commodity housing development loan projects into the "white list." According to the financial regulatory bureau, under the coordination mechanism, by November 18, the approved loan amount for "white list" projects exceeded 3 trillion yuan; it is expected that by the end of 2024, this amount will exceed 4 trillion yuan.

2. In October, the online signing volume of new residential properties in Guangzhou increased by approximately 100% month-on-month, and the online signing area of new residential properties doubled.

Recently, influenced by the ongoing package of real estate policies, the new housing market in Shenzhen has been robust since November. Data shows that from November 1 to 17, the average daily online signing volume of new houses in Shenzhen was 276 units. Statistics indicate that in October, the online signing of new residential properties in Guangzhou reached 10,418 units, an approximate month-on-month growth of 100%, with the online signing area also reaching 1.1147 million square meters, achieving a doubling growth. In November, the weekly visits and subscription volume remained at a high level.

3. The work to ensure housing delivery is accelerating, and the loan amount for "white list" projects is expected to exceed 4 trillion yuan this year.

An article by Jin Guanping in the Economic Daily pointed out that currently, the work to ensure housing delivery is making strong progress, and market expectations have shown positive changes. It is expected that by the end of this year, the approved loan amount for "white list" projects is likely to exceed 4 trillion yuan. One of the key links in ensuring housing delivery is to solve the funding issues for project construction. Since the beginning of this year, under the guidance of the Ministry of Housing and Urban-Rural Development and the National Financial Regulatory Authority, 297 cities at the prefecture level and above have established real estate financing coordination mechanisms, incorporating compliant real estate projects into the "white list" to promote financial institutions to increase funding support. Moving forward, efforts should be intensified to increase the loan input for "white list" projects, collaborate among all parties, and gather collective strength to provide robust financial support for ensuring housing delivery. Additionally, further efforts should be made to ensure the effective implementation of the coordination mechanism, ensuring that all eligible projects are included, all applicable loans are issued, and everything possible is done as early as possible, while also supporting the reasonable financing needs of real estate enterprises to promote the stable and healthy development of the real estate market.

4. In November, the number of second-hand housing transactions in Shanghai has exceeded 20,000 units.

The second-hand housing market in Shanghai continues to be active. According to online real estate data, on November 23, the transaction number of second-hand houses was 1,224 units, with a transaction area of 96,350.25 square meters. As of November 23, the number of second-hand housing transactions in Shanghai this month has exceeded 20,000 units, reaching 20,333 units. Lu Wenxi, a market analyst at Central China Real Estate, stated that, following the new policy, the transaction performance of second-hand houses in Shanghai has been more active than that of new houses, and except for the relatively low transactions during the National Day holiday, transactions have remained at a high level in the subsequent time, with some dates even seeing online signing volumes exceeding the peak in September, indicating a strong willingness to trade from both buyers and sellers. It was noted that since October 19 and 20, Shanghai has experienced five consecutive weekends (Saturday and Sunday) where the daily transaction number of second-hand houses exceeded 1,000 units. Lu Wenxi added that the introduction of tax exemptions for property transactions this month and the cancellation of both ordinary and non-ordinary residential standards have injected new vitality into the market. Furthermore, the signs of price stabilization in the second-hand residential price index of first-tier cities added confidence for further recovery in the housing market. All these factors have accelerated buyers' willingness to enter the market, significantly increasing the signing speed, and it is expected that the intensity of the housing market will continue until the end of the year. (Shanghai Securities Journal)

5. The China Index Academy reports that overall transactions in the real estate market increased both year-on-year and month-on-month last week, with year-on-year growth in Guangzhou and Shenzhen exceeding one.

China Index Research Institute report shows that last week, the overall real estate market saw increases in both weekly and monthly transactions, with a 11.75% monthly increase and a 6.26% year-on-year rise. In the first-tier cities last week, the overall transaction area increased by 12.33% on a monthly basis and by 32.09% year-on-year. Looking at individual cities, Shanghai and Beijing saw monthly increases, with Shanghai having the largest monthly increase at 50.1%; in terms of year-on-year comparison, apart from Shanghai, all cities experienced increases, with Guangzhou and Shenzhen's year-on-year growth rates both exceeding double, and Shenzhen having the largest increase at 2.28 times. Last week, the overall transaction area in second-tier representative cities increased by 19.88% on a monthly basis, showing the largest monthly increase among all city tiers. Looking at individual cities, wuhan had the largest monthly increase, rising by 76.17%, while Wenzhou had the largest decrease at 22.31%. In terms of year-on-year comparison, second-tier representative cities saw an overall increase of 8.49%. Third and fourth-tier representative cities remained largely stable on a monthly basis, with a slight 1.18% increase; among them, Shaoguan had the highest increase at 87.39%; overall year-on-year decrease was 13.85%. Qinzhou had the largest increase, exceeding 2 times in growth. Monitoring 7 representative cities showed a slight 0.37% decrease in overall inventory on a monthly basis, with the total inventory remaining relatively stable.

6. From November 1 to 24, there were 7,800 new residential commodity sales transactions in Shenzhen city, with a year-on-year daily average increase of 201.3%.

From November 1 to 24, Shenzhen city achieved 7,800 new residential commodity sales transactions (0.7701 million square meters), with a year-on-year daily average increase of 201.3% and a month-on-month daily average increase of 85.8%. The second-hand residential net signed transactions reached 5,477 sets (0.5092 million square meters), with a year-on-year daily average increase of 118.5% and a month-on-month daily average increase of 15.6%.

7. CapitaLand Group plans to sell 70% of the Shanghai Pudong Development Bank building for 1.8 billion yuan, more than a 30% discount from the purchase price.

Singapore's major real estate group CapitaLand is expected to incur losses by selling the Shanghai Pudong Development Bank building purchased more than five years ago. According to insiders, CapitaLand is in discussions with the fund under AEW Group regarding the sale of the Shanghai Pudong Development Bank building. According to the agreement between the parties, CapitaLand will sell approximately 70% of the building located in the core business area of shanghai lujiazui finance & trade zone development for 1.8 billion yuan. A reporter called the headquarters of CapitaLand (China) for confirmation regarding the sale of the Shanghai Pudong Development Bank building, but the staff on the line said they were unsure. "If you want to find someone specific, I can help connect you, but for such uncertain matters, I cannot give you an accurate response." Industry insiders indicate that CapitaLand's acquisition price for the Shanghai Pudong Development Bank building in 2019 was already estimated to be about 9% premium, and even if it is now sold at a loss, given the current operation situation, the price is not considered low. (The Paper)

8. Sichuan: In the first ten months, real estate development investment decreased by 10.8% year-on-year, and the sales area of commercial housing decreased by 21.4%.

On November 25, news reported that the Sichuan Provincial Bureau of Statistics recently released the main economic indicators data for Sichuan Province from January to October 2024. In terms of fixed asset investment, from January to October, the province's fixed asset investment (excluding rural households) grew by 1.7% year-on-year. By industry, investment in the primary sector increased by 13.1% year-on-year, the secondary sector by 17.3%, with industrial investment growing by 17.1%, while the tertiary sector saw a drop of 4.2%. With regards to real estate development, investment in real estate development decreased by 10.8% year-on-year. The construction area of commercial housing decreased by 11.9% year-on-year and the sales area decreased by 21.4%.

9. Optimized housing provident fund policy in Lu'an City, Anhui: Loan conditions have been relaxed, low-income families can withdraw provident fund to pay property fees.

On November 24, it was reported that the website of the Lu'an City Housing Provident Fund Center in Anhui Province recently released a notice on adjusting and optimizing the use policies for the housing provident fund. The notice states that individuals constructing, renovating, or significantly repairing their own residences within the urban area of Lu'an City may apply for housing provident fund loans. If the borrower's loan repayment capability calculated using the loan calculation formula is insufficient, additional family members who are fully capable of civil acts, have not surpassed the statutory retirement age, and possess stable income sources and loan repayment abilities (parents, children) can be added as co-borrowers. Borrowers can apply to change their repayment method during the repayment period, choosing between 'equal principal' or 'equal principal and interest'. Low-income families can apply to withdraw housing provident funds to pay property fees for their self-owned housing in the city. The requirement for providing a guarantor for loans from other locations has been removed, and to facilitate contact, a direct relative with full civil act capacity must be provided as a contact person.

10. Gree Real Estate: Plans to inject 51% equity of the duty-free group, will gradually withdraw from the real estate business.

On November 22, Gree Real Estate announced a significant asset restructuring plan, intending to exchange 100% equity of Shanghai Heliang, Shanghai Baolian, Shanghai Tailiang, Sanya Heliang, and Chongqing Liangjiang along with relevant external debts of Gree Real Estate for 51% equity of Zhuhai Duty-Free Enterprise Group Co., Ltd. held by Haitu Company. The final price of the assets to be injected in this transaction is 4.579 billion yuan, while the final price of the assets to be divested is 5.505 billion yuan, and the final price of the debts to be divested is 0.5 billion yuan. Due to valuation differences, Haitu Company will pay Gree Real Estate a cash consideration of 0.426 billion yuan. This restructuring is of significant importance for Gree Real Estate, marking the company's gradual withdrawal from the real estate business and its shift towards injecting more profitable and cash flow-oriented duty-free business. Through this strategic adjustment, Gree Real Estate will evolve into a listed company centered on duty-free operations, focusing on the layout of the industry chain around the csi consumer 360 index, which is expected to enhance the company's market competitiveness and profitability.