--- title: "《大行》摩通：上海楼市限购放松早在预期之中 首选润地华润万象生活中国金茂" description: "摩根大通指出，上海新一轮购房政策放宽非户籍人士购房限制，预计将推动成交量和价格回稳，但不认为此政策能持续复苏内房市场。摩通首选股为华润置地、华润万象生活及中国金茂，预计未来两个月内房股将保持韧性。" type: "news" locale: "zh-CN" url: "https://longbridge.com/zh-CN/news/276982811.md" published_at: "2026-02-26T04:18:17.000Z" --- # 《大行》摩通：上海楼市限购放松早在预期之中 首选润地华润万象生活中国金茂 > 摩根大通指出，上海新一轮购房政策放宽非户籍人士购房限制，预计将推动成交量和价格回稳，但不认为此政策能持续复苏内房市场。摩通首选股为华润置地、华润万象生活及中国金茂，预计未来两个月内房股将保持韧性。 摩根大通发表研报指出，上海昨天 (25 日) 推出新一轮购房政策优惠政策，包括放宽非户籍人士购房限制，外环以外区域所需社保/税单证明由 3 年缩短至 1 年、允许外环以外区域持有 3 年税证的居民购买多一个单位等。摩通认为举措并不意外，且上海放宽力度较去年北京 12 月类似举措强，相信未来一至两个月上海的成交量及价格将会回稳。然而，摩通不认为单凭该政策便预期内房市场可持续复苏；而下一个放宽的城市将是深圳。 摩通表示，过往地方政府放宽政策仅轻微带动股价正面回应，上海公布上述政策前，港股内地房地产板块已在早段上扬约 5%，但升势在后段减弱，收市时全日升幅约 2%，显示市场并未过度兴奋。摩通认为，有关升势主要是下周「两会」前的淡仓回补所致，虽然摩通不预期有新政策，但投资者通常抱持「以防万一」的心态，在任何重要政府会议前都会回补淡仓。 该板块年初至今已上升 16%，展望未来两个月，摩通预计该板块或持续波动，大致上保持韧性，直至 4 月底的政治局会议，即下一个政策窗口。 摩通首选股是华润置地 (01109.HK)、华润万象生活 (01209.HK) 及中国金茂 (00817.HK)，但认为中国海外发展 (00688.HK) 有望迎头赶上，因其表现一直落后。有关摩通对内房股评级详见另表。 ### Related Stocks - [515060.CN - 华夏中证全指房地产ETF](https://longbridge.com/zh-CN/quote/515060.CN.md) - [01109.HK - 华润置地](https://longbridge.com/zh-CN/quote/01109.HK.md) - [01209.HK - 华润万象生活](https://longbridge.com/zh-CN/quote/01209.HK.md) - [512200.CN - 南方中证全指房地产ETF](https://longbridge.com/zh-CN/quote/512200.CN.md) - [00817.HK - 中国金茂](https://longbridge.com/zh-CN/quote/00817.HK.md) ## Related News & Research | Title | Description | URL | |-------|-------------|-----| | Real Estate Markets Heat Up in Some Chinese Cities Over Lunar New Year | Several Chinese cities experienced a surge in housing market activity during the Lunar New Year holiday, driven by gover | [Link](https://longbridge.com/zh-CN/news/276844734.md) | | Century 21 Real Estate Reveals its 2025 "Number Ones," Honoring the Brand's Highest Performers Worldwide \| COMP Stock News | Century 21 Real Estate LLC has announced its 2025 "Number Ones," recognizing top performers in its global network. The a | [Link](https://longbridge.com/zh-CN/news/276623998.md) | | 13:30 ETBest Digital Detox Vacation (2026): Westgate Resorts Named Top Offline Retreat for Relaxation by Consumer365 | Westgate Resorts has been recognized by Consumer365 as the best digital detox vacation spot for 2026, highlighting its o | [Link](https://longbridge.com/zh-CN/news/276775020.md) | | 12:15 ETAn InventHelp 123Invent Client Develops New Calming Collar for Dogs (FDD-140) | InventHelp client has developed a new calming collar for dogs, designed by a dog behaviorist and licensed massage therap | [Link](https://longbridge.com/zh-CN/news/276919580.md) | | Mortgage rates fall below 6%, giving buyers a glimpse of affordability | Mortgage rates have fallen below 6%, with the average 30-year rate at 5.98%, down from 6.01% the previous week. This dec | [Link](https://longbridge.com/zh-CN/news/277081524.md) | --- > **免责声明**：本文内容仅供参考，不构成任何投资建议。