--- title: "《大行》摩通：上海樓市限購放鬆早在預期之中 首選潤地華潤萬象生活中國金茂" description: "摩根大通指出，上海新一輪購房政策放寬非户籍人士購房限制，預計將推動成交量和價格回穩，但不認為此政策能持續復甦內房市場。摩通首選股為華潤置地、華潤萬象生活及中國金茂，預計未來兩個月內房股將保持韌性。" type: "news" locale: "zh-HK" url: "https://longbridge.com/zh-HK/news/276982811.md" published_at: "2026-02-26T04:18:17.000Z" --- # 《大行》摩通：上海樓市限購放鬆早在預期之中 首選潤地華潤萬象生活中國金茂 > 摩根大通指出，上海新一輪購房政策放寬非户籍人士購房限制，預計將推動成交量和價格回穩，但不認為此政策能持續復甦內房市場。摩通首選股為華潤置地、華潤萬象生活及中國金茂，預計未來兩個月內房股將保持韌性。 摩根大通發表研報指出，上海昨天 (25 日) 推出新一輪購房政策優惠政策，包括放寬非户籍人士購房限制，外環以外區域所需社保/税單證明由 3 年縮短至 1 年、允許外環以外區域持有 3 年税證的居民購買多一個單位等。摩通認為舉措並不意外，且上海放寬力度較去年北京 12 月類似舉措強，相信未來一至兩個月上海的成交量及價格將會回穩。然而，摩通不認為單憑該政策便預期內房市場可持續復甦；而下一個放寬的城市將是深圳。 摩通表示，過往地方政府放寬政策僅輕微帶動股價正面回應，上海公佈上述政策前，港股內地房地產板塊已在早段上揚約 5%，但升勢在後段減弱，收市時全日升幅約 2%，顯示市場並未過度興奮。摩通認為，有關升勢主要是下週「兩會」前的淡倉回補所致，雖然摩通不預期有新政策，但投資者通常抱持「以防萬一」的心態，在任何重要政府會議前都會回補淡倉。 該板塊年初至今已上升 16%，展望未來兩個月，摩通預計該板塊或持續波動，大致上保持韌性，直至 4 月底的政治局會議，即下一個政策窗口。 摩通首選股是華潤置地 (01109.HK)、華潤萬象生活 (01209.HK) 及中國金茂 (00817.HK)，但認為中國海外發展 (00688.HK) 有望迎頭趕上，因其表現一直落後。有關摩通對內房股評級詳見另表。 ### Related Stocks - [515060.CN - 華夏中證全指房地產ETF](https://longbridge.com/zh-HK/quote/515060.CN.md) - [01109.HK - 華潤置地](https://longbridge.com/zh-HK/quote/01109.HK.md) - [01209.HK - 華潤萬象生活](https://longbridge.com/zh-HK/quote/01209.HK.md) - [512200.CN - 南方中證全指房地產ETF](https://longbridge.com/zh-HK/quote/512200.CN.md) - [00817.HK - 中國金茂](https://longbridge.com/zh-HK/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-HK/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-HK/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-HK/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-HK/news/276919580.md) | | Experts warn of disastrous aftermath of 'largest deregulatory action in US history': 'It's going to be chaotic' | Experts held that the revocation was "scientifically unfounded, almost certainly illegal, and unbelievably unwise." Expe | [Link](https://longbridge.com/zh-HK/news/276478759.md) | --- > **免責聲明**：本文內容僅供參考，不構成任何投資建議。