引言 在房地产行业深度调整的当下，如何突破传统研究模式的桎梏，实现高效、专业、精准的研究成果 产出？CRIC深度智联作为房地产行业首个AI智能体，凭借"数据+AI+场景"的三维赋能，正在掀起 一场研究层面的效率革命。 5月29日，一场聚焦不动产行业AI应用发展的研讨会在上海召开。会上，CRIC深度智联重磅发布2.0版本，并 发布了在此阶段的首个不动产行业场景应用产品——新房楼盘AI智能体。同期，其与联发集团、中国金茂等4 家头部企业签署合作备忘录，11个标杆楼盘成为首批共建伙伴，共同探索AI在新房案场营销等场景的深度应 用。此次发布标志着"AI+不动产"正式进入应用落地期，CRIC深度智联以行业首个房地产智能体的先发优势， 开启房地产研究效率革新的新篇章。 三大核心优势 重构地产研究全链条价值 一、数据基建：2 0年行业沉淀，构筑研究"最强大脑" CRIC深度智联背靠克而瑞20年房地产行业数据积累，覆盖全国426个城市、11大地产领域，构建了业内最完整 的专业数据库。与通用AI依赖公开网络数据不同，其数据体系包含： 1、独家行业数据： 土地成交、新房/二手房交易、房企经营等核心指标，均来自克而瑞线下调研与权威 ...

| 开发企业：绿城中国 | | --- | | 产品类型：高层住宅 | 日前，"2025上半年中国房企产品测评"全国入围项目正式进入项目展示阶段。 2025上半年中国房企产品测评 工作启动于4月中下旬，收到 企业及业内专家推选的优秀项目踊跃参评， 初选的 入围项目已于6月3日揭晓。 详情请戳 《2025上半年中国房企产品测评入围榜》 本次所有入围项目仍将采用专家评审和网络票选结合的评选方式，最终评出 2025上半年 "全国十大高端/轻奢/品质 作品""全国好房子综合奖"等 ，目前相关测评工作正在有序进行中。 点击图片查看入围项目详情 高端入围项目 北京和樾望雲 西山映射，立体山水，塑造北京现代东方名园 开发企业：华润置地、越秀地产 轻奢入围项目 产品类型：多、高层住宅 建筑风格：现代 武汉长江天际 长江流域首个户户瞰江、板式社区型大平层 开发企业：华润置地 产品类型：大平层 建筑风格：国际艺术 嘉兴馥香园 秀立嘉兴，馥郁传香嘉兴 首个南北双露台空中花园大宅 开发企业：绿城中国 产品类型：高层住宅 建筑风格：现代 广州馥香园 岭南繁花过往，馥香生活序章 北京建发金茂·观宸 建筑风格：现代 四环城央，公园双轨，建 ...

VIEW 克而瑞研究中心 "每周研究精读" ， 聚焦宏观、行业、房企、土拍、产品、客需、榜单等多个研究成果，与各界探讨行业运行逻辑、变数及未来趋势。 专题 | "蓝海变红海"，头部代建企业立身之道 未来代建行业仍将会保持"强者恒强"、"特色为王"发展态势，坚持"长期主义"和具备"核心竞争力"的企业，才能在"蓝海变红海"的代建赛道构筑护城河。 热销项目 | 5月市场热度持增，新规项目集中入市领涨 点击标题阅读全文 榜单 2 0 2 5上半年中国房企产品测评入围项目揭晓 历时一个半月的综合数据筛选、产品调研、产品力模型测评等环节，2025上半年中国房企产品测评全国入围项目正式揭晓！ 2 0 2 5年5月中国房地产企业品牌传播力TOP5 0 2025年5月，房企从产品与服务两端发力，兼顾"好房子"打造与青年需求满足，实现品牌与社会价值双赢。 专题 预判6月，我们认为，房企年中冲刺将至，营销预期加码，供给结构优化下适销对路楼盘入市，预期带动成交总量延续稳步复苏走势，环比持增，同比持平去年或小幅微降， 延续弱修复态势。 行业透视｜6月新房供应"提质"叠加营销加码助力成交年中放量 观点 1、2025年6月，20个重点城市 ...

Group 1 - The core viewpoint emphasizes that real estate companies are focusing on both product innovation and meeting the needs of young consumers to achieve a dual win in brand and social value [1] - On the product side, real estate companies are launching innovative products in response to the new "Residential Project Standards," with companies like China Merchants Shekou and China Resources Land introducing "good house" series that incorporate cultural and aesthetic elements [1] - On the youth service side, companies are implementing targeted strategies to address rental and marriage challenges, with firms like Longfor and China State Construction offering rental discounts and flexible lease terms [1] Group 2 - In terms of brand communication, the top three companies in May's communication power ranking are China Resources Land, China Overseas Property, and Greentown China, followed closely by Poly Developments and China Jinmao [2] - The "good house" concept is sweeping the corporate brand landscape, with multi-dimensional product updates in response to new regulations [3] - Real estate companies are diversifying their support for young people, focusing on both housing and romantic relationships [3]

Core Viewpoint - The real estate market has stabilized since 2025, with new supply being restrained, leading to a weak recovery in transactions and a significant reduction in inventory levels, particularly in certain cities facing severe supply constraints [1][3][31]. Group 1: Inventory and Depletion Cycle - As of April 2025, the narrow inventory across 50 cities has decreased to 30.557 million square meters, reflecting a 1% month-on-month decline and a 10% year-on-year decline [3][4]. - The depletion cycle has shown a downward trend, reaching 20.98 months by the end of April 2025, with a 0.5% month-on-month decrease and a 6% year-on-year decrease [4][7]. - Inventory levels in first-tier cities remain stable, while second and third-tier cities have seen a reduction, with depletion cycles in first and second-tier cities dropping below 20 months, while third and fourth-tier cities still face cycles of around 30 months [7][31]. Group 2: Freshness of Inventory - Approximately 54% of the inventory consists of supply from 2020 to 2023, with first-tier cities exhibiting significantly higher freshness compared to second and third-tier cities [10][14]. - Cities like Shenzhen, Hangzhou, and Chengdu have a high proportion of fresh inventory, while cities like Wuxi are burdened with older stock, with nearly 30% of inventory being from over ten years ago [17][32]. Group 3: Area Segmentation - The primary inventory is concentrated in the 100-140 square meter range, with 100-120 square meters and 120-140 square meters accounting for 24% and 20% of the total inventory, respectively [20][23]. - Smaller units (below 70 square meters) and larger units (above 180 square meters) have seen a decrease in inventory share, with the 70 square meters and below segment dropping to around 8% by April 2025 [22][24]. Group 4: Housing Type - Three-bedroom units dominate the inventory, making up 52% of the total, while four-bedroom units account for 28% [27][28]. - The inventory pressure for two-bedroom units is notably higher in second and third-tier cities compared to first-tier cities, where three and four-bedroom units are more prevalent [28][31]. Group 5: Future Outlook - Three categories of cities are identified as facing significant short-term supply constraints: 1. Hot cities like Shanghai, Hangzhou, and Chengdu with low inventory and short depletion cycles [31][32]. 2. Second and third-tier cities with high old inventory and long depletion cycles, such as Hohhot and Wuxi [32]. 3. Cities with mismatched supply and demand, like Guangzhou and Dalian, where inventory structures do not align with transaction structures [35].

本期关注 企业 绿城中国前5月代建销售约311亿元 旭辉建管在东北中标首个不良资产盘活项目 绿地智造成功中标三大标杆项目开发建设管理服务 中建二局20.7亿中标广州文冲街文冲旧村改造项目工程 项目 国贸地产代建厦门外附小洪文校区顺利竣备 企业获取 理服务是旭辉建管在东北获取的首个不良资产盘活项目，体量约25万平方米。未来旭辉建管将凭借此前与四大AMC机构合作经验，发挥"定制化服务体系"优势，协助委托方 期设计专项咨询服务。 .76万平方米，建筑高度约180米，主要功能涵盖中国华西企业有限公司自用总部办公、上下游企业办公及配套商业。该项目是金地管理在深圳继深信服科技大厦、思摩尔 合作方。海南龙吉和悦府项目是海南合悦集团旗下的一项重要项目，项目总计容面积15.71万平方米、总建面22.09万平方米。项目紧邻海口西海岸南片区，接驳市府医疗、 行提升改造工程。 北片）旧村全面改造项目（RR2）地块勘察设计施工总承包工程，项目金额为20.7亿元。 块项目(二期)提供代建代销服务。 两个项目G02地块容积率1.6，限高60米，成交总价10.05亿元；G03地块容积率1.4，限高60米，成交总价6.28亿元。两块地均为低容 ...

预判6月，我们认为，房企年中冲刺将至，营销预期加码，供给结构优化下适销对路楼盘入市，预期带动 成交总量延续稳步复苏走势，环比持增，同比持平去年或小幅微降，延续弱修复态势。 ◎ 文 / 俞倩倩 5月整体楼市延续止跌企稳的弱复苏走势，楼市新房成交和项目去化率环比持增，延续高位：5月平均开盘去化 率为39%，环比上升1pcts，同比上升12pcts，与2023年高峰基本持平。究竟当前热销楼盘有什么共性特征？6 月又能否延续市场热度稳步回升的态势呢？ 01 5月30城平均去化率39% 优质项目入市托举去化率同环比正增 5月整体市场热度仍处高位震荡，同环比皆增：据CRIC调研数据，30个重点城市5月平均开盘去化率为39%， 环比上升1pcts，同比上升12pcts，与2023年高峰基本持平，延续稳中向好。 分城市来看，福州、南宁、长春、东莞、珠海、宁波、徐州等7城无项目开盘或加推，惨淡的成交行情抑制了 房企推盘积极性。去化率超6成城市仅有厦门、成都、长沙、重庆，其中厦门、重庆主要得益于个别网红盘入 市带动市场热度持增。 而从变化趋势来看，环比跌多涨少而同比涨多跌少，典型城市大体可分为以下几类：一是热点城市诸如上海、 深 ...

◎ 文 / 克而瑞研究中心 核心内容 0 1 合约销售 百强房企5月业绩环比增长3 . 5% 1、 合约销售： 百强房企5月业绩环比增长3.5% 2、 企业拿地： 典型房企投资环比下滑，部分民企谨慎"补仓" 3、 企业融资： 单月总量创年内新高，保利和万科融资均超百亿 4、 组织动态： 中国金茂任命3名副总裁和14名城市负责人 | 无不复杂 | 2025年 1-5月 | 累计 | 2025年5月 | 東日 | 東日 | | --- | --- | --- | --- | --- | --- | | | 蓄井手袋 | 目比 | 東日天誕 | 同比 | 环比 | | 保利发展 | 1161.1 | -11.6% | 284. 6 | -19.4% | 15.6% | | 中海地产 | 903. 8 | -11.1% | 238.0 | 20.8% | 18.0% | | 表理器 和 | 868. 5 | -6.3% | 183.5 | -11.4% | 6. 1% | | 招商蛇口 | 671.3 | -13.8% | 173.0 | -9.0% | 17.1% | | 绿城中国 | 653. 3 | -3.9% ...

2025年6月 土拍预告 2025年6月，20个重点城市计划出让含宅土地127宗，起拍总价1071亿元 4个城市本月计划出让底价超过100亿元：北京、杭州、广州、天津 单日超50亿元：北京（4号、5号）、厦门（20号）、杭州（27号）、广州（30号)、天津（30号） | 開示 | | | | | | | --- | --- | --- | --- | --- | --- | | | 6月28日 | 1 | 18.32 | 13.08 | 8.18 | | 长沙 | 6月19日 | 1 | 4.13 | 18.59 | 6.64 | | | 6月24日 | 9 | 10.42 | 94.62 | 50.03 | | | 6月27日 | 2 | 12.77 | 24.68 | 9.05 | | | 6月30日 | 2 | 14.37 | 60.16 | 24.07 | | 青岛 | 6月17日 | 2 | 29.19 | 31.56 | 15.71 | | | 6月18日 | 1 | 11.82 | 12.32 | 4.93 | | 合肥 | 6月27日 | 3 | 38.50 | 30.39 | 20.17 | ...

Core Viewpoint - The future of the construction agency industry will maintain a "stronger will remain strong" and "characteristics will prevail" development trend, emphasizing "long-termism" and companies with "core competitiveness" to build a moat in the transition from "blue ocean to red ocean" in the construction agency track [1][35]. Group 1: Industry Development Phase - The construction agency sector is entering a phase of stable development after three years of rapid and "barbaric" expansion, with increasing competition and market saturation [5][6]. - The new construction scale in 2024 reached 215 million square meters, doubling from 2020, but the growth rate has significantly slowed, with a year-on-year increase of only 13%, down 14 percentage points from 2023 [6][7]. - The industry is influenced by several factors, including a sluggish macroeconomic environment, increased competition, and short-term uncertainties from policy changes [7][8]. Group 2: Challenges Facing the Industry - The construction agency industry faces multiple challenges, including the contradiction between high-quality development and price competition, as well as the shrinking profit margins against the backdrop of excessive profit commitments [11][12]. - The logic for clients selecting construction agencies has evolved from "single service procurement" to "strategic ecosystem co-construction," prioritizing long-term partnerships and risk-sharing capabilities [11][12]. Group 3: Core Competitiveness of Leading Companies - Four leading companies—Greentown Management, Blue City Group, Jindi Management, and Runzhi Management—have accumulated advantages and experience during the "blue ocean" period, which serve as their capital and confidence in facing the "red ocean" [14][35]. - Greentown Management leads in scale, supported by a standardized system that enhances product reputation and brand premium [15][16]. - Blue City Group has established significant advantages in niche areas, particularly in affordable housing and public construction, and emphasizes long-term partnerships with government clients [20][21]. - Jindi Management has a robust project management system and a diverse client base, with a focus on high-quality customer structures [25][26]. - Runzhi Management, as a subsidiary of China Resources Land, has a strong presence in government projects and public construction, leveraging its central enterprise resources for competitive advantages [27][28]. Group 4: Long-termism as a Development Foundation - The construction agency industry, transitioning to a light-asset model, has a stronger counter-cyclical effect, becoming a vital survival strategy for many companies [35]. - Companies should focus on building core competitiveness, exploring niche markets, and creating long-term stable partnerships with clients to maximize value [37][38].