7月23日，南京宣布了拉动房地产消费的政策，其中包括“加大公积金政策对首次购房和保障房的支持力度”，将首套商品房纯公积金贷款最低首付定为20%。政策还对该市“321”人才计划覆盖人员免于“限购”，首次购买自住商品住房，视同南京户籍，并提供购房补贴。各权威机构纷纷针对上述事件发表研究报告进行点评。

July 23,，Nanjing announced pull the real estate consumer policy，including“Increasing accumulation fund policy for the first time to purchase and safeguard room support”，Will the first set of commercial housing provident fund loans minimum as pure down 20%。Policy of the city“321”Talent plan covering personnel from“restricted”，For the first time to buy commercial housing from lives，Nanjing census register shall be regarded as，And provide purchase subsidies。The authorities have in view of the above event research report published comments。

　　瑞银：南京楼市新政凸显地方政府放松调控动力十足

ubs：Nanjing property market New Deal highlights the place the government to relax regulation motivation

　　瑞银今日发表研报称，南京此番举措反映出地方政府放松调控动力十足。

Ubs research reports published today，Nanjing this "move reflects the local government to relax regulation motivation。

　　研报称，国土部、住建部重申严格执行现有调控政策，但目前经济增长形势、土地成交情况和地方政府财政压力给政策收紧留有的空间有限。

Research reports，Land department、Live JianBu reiterated that the strict implementation of existing regulation policy，But the present economic growth situation、Land deal and local government financial pressure to tighten policy leave some space is limited。

　　研报认为，政策风险重新成为市场关注的主要风险，但开发商的资金、存货状况正逐步好转，商品房需求也保持在较高水平，并且政府对于自住性购房需求仍将持支持态度，政策风险及其对开发商的影响或好于市场预期。A股地产首选股为万科A、保利地产(600048,股吧)、首开股份(600376,股吧)和荣盛发展(002146,股吧)。

Research report think，Policy risk to become the main risk market attention，But the developers of the capital、Inventory condition is improving step by step，Commodity house demand also keep in a higher level，And the government for self living sex pent-up demand will still hold support attitude，Policy risk and the influence of the developers or better than market expectations。A share real estate preferred shares for vanke A、Poly real estate(600048,Shares it)、Shares the first to open the(600376,Shares it)And rongsheng development(002146,Shares it)。

　　方正证券(601901,股吧)：近期或将推出更严厉楼市调控政策

Founder securities(601901,Shares it)：The near future or will launch more severe market regulation and control policy

　　方正证券认为，6月份以来，无论是百城还是70大中城市房价均出现环比回升，且一二线城市回升幅度明显，另外新房与二手房的成交量也继续回暖，房地产市场“量价齐升”的现象称为事实。主要原因一是政府对刚需的鼓励；二是降息导致房贷成本下降，这些因素引起房价回升预期，买涨不买跌的购房心理使得刚需快速释放，开发商资金状况得到明显缓解，从而逐步放弃以价换量的策略，显然这是决策层所不愿意看到的，最近也频频发出调控不放松的信号，新一轮更为严厉的调控有可能将会发生。

Founder securities think，Since June，Whether hundred cities or 70 large and medium-sized cities housing prices all appear link picks up，And a second city picks up amplitude obviously，In addition to the new second-hand housing turnover also continue to milder，Real estate market“Quantity price JiSheng”Phenomenon known as fact。The main reason is the government just need encouragement；The second is to cut interest rates lead to mortgage cost down，These factors house prices is expected to rebound，To buy or not to buy up down the psychological make just need quick release，Developers funds state are obviously relieve，So as to gradually give up the price in amount of strategy，Obviously this is decision-making are unwilling to see，Recently issued repeatedly not to relax regulation of the signal，A new round of stricter regulation may will happen。

　　南京的此次政策，虽然也是刺激刚需之举，但在当前时点无疑会进一步加强房价上涨预期，这也是决策层所担忧的，因此不久可能会被叫停。房地产调控加剧经济下行压力，政府对房地产调控的态度也是左右为难，这在近期中央与地方的博弈中得到充分体现，而目前来看，政府提出要加大新兴产业投资增速、加速保障房建设以及加大铁路等基础设施建设力度，这也将能够在一定程度上对冲房地产投资下滑的负面影响，因此该机构判断近期更为严厉的调控有可能将会推出，而对于下半年房地产市场的判断，方正证券认为成交回暖的趋势还将延续，房价会出现震荡，大幅上行与下跌的可能都不大。

Nanjing's policy，Although also be stimulus just need to lift，But in the current time will no doubt to further strengthen the house price rising expectations，This also is decision-making is concerned，So soon may be called。Real estate regulation aggravate economy downward pressure，The government to the real estate regulation attitude is in a dilemma，In the near future this central and local game fully reflected，But so far，The government offered to increase the emerging industrial investment growth、Accelerating guarantee room construction and increase the railway and other infrastructure construction force，This will also be able to in a certain extent hedge real estate investment glide negative influence，So the agency judgment recent stricter regulation there will be introduced，For the second half of the judgment of the real estate market，Founder securities think clinch a deal the milder trend will continue，House prices will appear concussion，Sharply rising and falling may not。

　　（《证券时报》快讯中心）

（《Securities times》Express center）