本期关注 企业 国贸地产获得福州塔斯汀总部地块代建项目 新城建管7月共成功签约7个项目 项目 旭辉建管代建佛山首座四代宅淼汇・天萃城市展厅开放 绿城管理代建宁波首个共有产权房交付 企业动态 品管理部总部与一线的产品专家共同参训。本次战训营聚焦管理共识凝聚、专业能力赋能与拓研销一体化推进，通过实战演练与经验交流，全面提升产品团队的精准解题能 项目获取 目建造管理服务 基地项目,项目总规划建筑面积约30万平方米，涵盖商业、康养医疗、写字楼等多元业态。未来，项目将引入萧山首座龙湖天街。 项目动态 保险大厦项目，委托方为新华人寿保险股份有限公司，建筑高度达180米，总建筑面积超过13万平方米，总投资约30亿元，为集商业、办公及公建配套设施于一体的地标性 机委托，为项目提供设计管理、工程管理、合约管理等专业代建服务。该项目总建筑面积约6万㎡，聚焦光伏组件制造、数码印刷、数字喷墨控制系统及电池自动化等高端 时间即实现全面封顶，较同类项目建设周期大幅缩短。该项目毗邻台金高速、诸永高速，区位优势明显，总建筑面积约21.3万㎡，定位为涵盖新型厂房、仓储物流、电商 米的超高层商办地标建筑。项目规划涵盖国际五星级酒店、甲级写字楼及 ...

导 读 | | 2025年1-7月 ·中国房地产企业 | | | --- | --- | --- | | | 新增货值TOP100 | | | 排名 | 企业名称 | 新增土地货值 | | | | (亿元) | | 1 | 中海地产 | 1315.5 | | 2 | 绿城中国 | 1116.0 | | 3 | 保利发展 | 943. 0 | | ব | 中国金茂 | 793.5 | | 5 | 花海量斯 | 736.9 | | 6 | 建发房产 | 714.6 | | 7 | 招商蛇口 | 649.0 | | 8 | 滨江集团 | 580. 1 | | | 越秀地产 | 522. 0 | | 10 | 中建智地 | 257. 1 | | 11 | 保利置业 | 240. 1 | | 12 | 象屿地产 | 232. 2 | | 13 | 联发集团 | 221. 4 | | 14 | 国贸地产 | 184.6 | | 15 | 北建城生 | 177 7 | | 16 | 中国铁建 | 168. 0 | | --- | --- | --- | | 17 | 邦泰集团 | 145. 2 | | 18 | 中建玖合 ...

研究中心专题卡介绍 研究专题卡是克而瑞研究中心推出的一套系统化的房地产企业情报定制方案，旨在用专业的行业知识与精湛的 行业预判为房企预测走势、预警风险、提供借鉴。 每年为企业提供『宏观研究、市场研究、企业管控、项目借鉴、营销案例、产品案例、运营模式、企业深度、 企业融资及盈利模式』十大类、五十个专题的选择。 产品类型 服务形式 企业可根据自身需求从专题列表中选择适合专题打包组成定制专题卡，但全年累积不得超过会员自身等级规定数量。 2025年新增专题 点击 红色标题 阅读缩略版 重磅 | 2025中国房地产投资前景排行榜 2025年，CRIC研究中心基于历年研究，将研究范围扩大至2 9 7个地级以上市，新增供地规模调整指标，完善 地价房价比和短期人口增量等指标，并将数据更新至2024年。同时，进一步优化分析方法，综合运用因子分 析、相关性分析、回归分析、Ahp层次分析、德尔菲法等数学工具，对房地产市场前景进行量化研究，剖析 不同城市能级的前景来源，归纳前景较优城市的指标特征 。 专题 | 2025上半年千万豪宅热销动因解析及趋势预判 大面积高总价"越豪越好卖"，上海"独占鳌头"全面领涨；高端豪宅预期供求持稳，蓉 ...

导 读 ☉ 文／克而瑞研究中心 | | | | 2025年1-7月 ·中国房地产企业 | | 日完重 · 原田家 · | | --- | --- | --- | --- | --- | --- | | | | | 肖售榜TOP100 | | | | 排名 | 企业简称 | 全口径金额 (亿元) | 排名 | 企业简称 | 权益金额 (亿元) | | 1 | 保利发展 | 1632.0 | 1 | 保利发展 | 1286. 1 | | 2 | 中海地产 | 1319.5 | 2 | 中海地产 | 1213.9 | | 3 | 华润置地 | 1236.0 | 3 | 辛海置地 | 849.2 | | 4 | 招商蛇口 | 1045.2 | 4 | 招商蛇口 | 716.0 | | 5 | 绿城中国 | 857.0 | 5 | 绿城中国 | 581.0 | | 6 | 万科地产 | 821. 1 | 6 | 建发房产 | 576.6 | | 7 | 建发房产 | 770. 3 | 7 | 万科地产 | 533.7 | | 8 | 越秀地产 | 675.0 | 8 | 中国金茂 | 426. 4 | | 9 | 中国 ...

Core Viewpoint - The article emphasizes the importance of maintaining policy continuity and stability in China's economic landscape, particularly focusing on employment, enterprises, market stability, and consumer confidence. It highlights the need for proactive fiscal policies and moderately loose monetary policies to stimulate domestic demand and ensure the real estate market stabilizes and recovers [2][4]. Group 1: Economic Policy and Real Estate - The Central Political Bureau meeting did not specifically address the real estate market but maintained a consistent tone aimed at stabilizing the sector [3][4]. - The meeting underscored the need for high-quality urban renewal and the supply of "good houses" as crucial measures for stabilizing the real estate market. This follows the Central Urban Work Conference held on July 15, which set a high-level agenda for urban development [4][6]. - Since the beginning of the year, both central and local governments have implemented measures tailored to individual cities, resulting in a noticeable improvement in the real estate market, with new and second-hand housing transactions showing positive growth [4][5]. Group 2: Urbanization and Housing Demand - China's urbanization is transitioning from rapid growth to stable development, with a focus on improving existing housing stock rather than expanding new construction. This shift is expected to support housing demand in key urban areas [5][6]. - The article discusses the potential for significant housing improvement demand due to the aging housing stock, with over 300 billion square meters of existing urban housing needing updates. This presents a substantial opportunity for the real estate sector [7][8]. - The emphasis on high-quality urban renewal and the iterative supply of "good houses" is anticipated to stimulate demand for new homes, creating a new price benchmark and achieving a dynamic balance in the real estate market [8].

Core Viewpoint - The land market is experiencing a seasonal decline in transaction volume, but the quality of land supply is improving, with more premium residential land expected to enter the market in the second half of 2025 due to urban renewal initiatives and optimized supply-side management [1][3][8]. Supply and Demand - As of July 25, 2025, the land supply area reached 61.81 million square meters, a year-on-year decrease of 17%, while the transaction area was 41.94 million square meters, also down 15% year-on-year [4][10]. - The average premium rate for land transactions in July was 9.9%, marking a new high since April 2025, with first-tier cities seeing a significant increase of 25.7% [5][15]. Market Heat - The average premium rate in July reached 9.9%, the highest since the second quarter of 2025, with first-tier cities experiencing a notable rise [5][15]. - In July, several high-quality residential land parcels were sold at over 20% premium rates, with cities like Shanghai and Shenzhen setting new price records [15][25]. Distribution - Transaction areas across different city tiers saw a year-on-year decline, with first-tier cities down 44%, second-tier cities down 27%, and third and fourth-tier cities down 11% [6]. - The transaction amount for first-tier cities increased by 24% year-on-year, while second-tier and third and fourth-tier cities saw declines of 14% and 1%, respectively [6]. Future Outlook - The central government has emphasized urban renewal and optimizing urban spatial structures, which is expected to lead to more high-quality land supply in the second half of 2025 [8][17]. - Core cities with significant population influx and higher economic development levels are anticipated to become key points for market recovery [8][17]. Key Land Parcels - In July, eight land parcels sold for over 50 million yuan per square meter, primarily in Shanghai and Shenzhen, indicating a rise in high-priced land transactions [23][24]. - The highest-priced land parcel was in Shanghai's Xuhui District, sold for 200,257 yuan per square meter, setting a national record [27][29].

Core Viewpoint - The land supply scale has decreased while transaction volume has rebounded, with premium rates continuing to rise, reaching a four-month high [1]. Supply Summary - The supply of land this week was 3.05 million square meters, a 42% decrease compared to the previous week [2]. - A total of 24 residential land plots were supplied in key cities, with an average plot ratio of 2.14 [2]. - Notable land supply includes a residential plot in Beijing's Shunyi District with a starting price of 1.03 billion yuan and a plot ratio of 1.6 [2]. Transaction Summary - The transaction volume reached 3.38 million square meters, a 35% increase week-on-week, with a transaction value of 48.5 billion yuan, up 251% [3]. - Major cities like Shanghai, Shenzhen, Hangzhou, Chengdu, and Suzhou saw multiple high-premium land transactions, raising the average premium rate to 16.2%, the highest since April 2025 [3]. Shanghai Land Auction Highlights - Shanghai's sixth round of land auctions in 2025 included 10 residential and 3 commercial plots, with significant premium transactions [4]. - The highest premium was recorded for a residential plot in Hongkou District at 46.33%, with a total transaction price of 6.47 billion yuan [4]. - The Xuhui District plot set a new national record at 20 million yuan per square meter, located in a culturally rich area with a low plot ratio of 1.3 [4]. Suzhou Land Auction Highlights - Suzhou also set a new record for residential land prices, with a low-density plot in the Industrial Park area sold at a floor price of 6.5 million yuan per square meter [5].

Core Viewpoint - The luxury real estate market in key cities is experiencing significant growth, with a notable increase in transactions for properties priced over 10 million yuan, particularly in Shanghai, which leads the market [3][4][19]. Group 1: Market Performance - In the first half of 2025, the transaction volume of luxury homes (priced over 10 million yuan) in 20 key cities increased by 21% year-on-year, while the overall new home market only saw a 5% increase [4][19]. - The four first-tier cities (Beijing, Shanghai, Guangzhou, Shenzhen) accounted for 1.6 million transactions, a 15% increase year-on-year, while 16 second and third-tier cities saw a 37% increase with 5,871 transactions [4][19]. - Shanghai's luxury market is particularly strong, with properties priced over 50 million yuan seeing a 51% increase in transactions, making up nearly 80% of the market [17][19]. Group 2: Characteristics of Luxury Homes - The proportion of large luxury homes (over 180 square meters) accounted for 46% of transactions, although the concentration is decreasing, while the 100-140 square meter segment is seeing significant growth [20][24]. - The main transaction size for first-tier cities has shifted to 120-140 square meters, while second-tier cities like Suzhou and Hangzhou still favor larger homes in the 200-250 square meter range [29][30]. Group 3: Market Drivers - The increase in high-premium land supply has led to a surge in luxury home projects, particularly in cities like Ningbo and Xiamen, which saw a 113% year-on-year increase in luxury home supply [30][32]. - The "Good House" national strategy is pushing developers to enhance the quality of new luxury homes, making them more appealing compared to second-hand properties [36][38]. - The luxury market is benefiting from a stable demand from high-net-worth individuals, with a focus on quality living spaces and innovative designs that enhance the living experience [38][59]. Group 4: Future Outlook - An estimated 775,000 square meters of luxury homes are expected to be supplied in the second half of 2025, with the third quarter anticipated to be a peak period for new listings [49][54]. - Cities like Shanghai and Shenzhen are facing significant supply constraints, while others like Hangzhou and Chengdu may experience oversupply issues [54][59].

Group 1 - Core viewpoint: The real estate market is showing signs of stabilization despite challenges such as high inventory and price declines, supported by government policies and improved financing conditions [2][3][4] - Shanghai and Beijing maintain their positions as the top two cities, with new home sales and GDP contributions from the top 50 cities exceeding 50% [1][20][21] - Demand is driven by population aggregation and improvement needs, with an annual incremental housing demand of 300 million square meters expected in the top 20 cities [3][31][34] Group 2 - The supply of residential land is expected to decrease by 20% year-on-year in 2025, tightening supply expectations and promoting a balance between supply and demand [4][28] - Inventory issues vary significantly across cities, necessitating tailored and categorized governance strategies [5][24][30] - Coastal cities are experiencing a rise in rankings due to demand-side support, with Hainan province particularly benefiting from favorable policies [2][26][27] Group 3 - First-tier cities exhibit the best demand stability and manageable inventory risks, leading the way in signaling market stabilization [39][40][41] - Second-tier cities like Hangzhou, Chengdu, and Tianjin show potential for demand growth, with notable market performance [45][50][51] - Third and fourth-tier cities still have significant room for urbanization development, requiring accelerated land repurchase to achieve a new balance between supply and demand [54][56][60]

Group 1: Industry Policy - The government continues to promote the reform of the government investment project construction agency system, with 14 provinces and cities issuing or revising management measures in the first half of 2025 to enhance project management professionalism and investment efficiency [1][8] - The management measures emphasize that the construction agency is responsible for project organization, investment control, quality, and schedule, with projects handed over to the user unit upon completion [8][9] - The new management trends include refined management, enhanced green construction and technology upgrades, and improved incentive and penalty mechanisms [9] Group 2: Land Acquisition by Urban Investment Companies - In the first half of 2025, urban investment and platform companies acquired over 22 million square meters of land, accounting for 45% of the total, which is a slight increase of 4% compared to the same period in 2024, but a decrease of 5 percentage points year-on-year [2][12] - The second quarter saw a decline in land acquisition share to 41%, down 8.7 percentage points from the first quarter and 14.4 percentage points from the same period in 2024 [12] Group 3: Corporate Insights - Several construction agency companies deepened their business layout through strategic partnerships, with 7 companies collaborating with various clients across multiple regions, indicating a trend towards national expansion [3][14] - The partnerships focus on government-enterprise cooperation, cross-industry integration, and emphasize smart and ecological construction [14][15] - The collaboration types include government partnerships, state-owned enterprise resource integration, and private enterprise cross-industry alliances, enhancing competitive advantages and project acquisition capabilities [15][16][17] Group 4: Key Projects - The Dragon Lake Longzhi project in Chengdu was delivered 40 days ahead of schedule, showcasing effective project management and cost control [20][21] - The project involved significant upgrades and marketing strategies, resulting in high sales performance and customer satisfaction [21][25] - The first half of 2025 saw 260 construction agency projects awarded, an 8% increase year-on-year, with a notable rise in the second quarter [4][25]