以下文章来源于克而瑞产品测评 ，作者产品力研究中心 克而瑞产品测评 . 聚焦房地产产品、交付研究及产品力、交付力测评 2025年，地产行业正在经历转向高质量发展的重要时期，得益于此，房价、土拍热度、项目去化等都持续调整并时有亮点， 供求压力持续转好。 随着"好房子"风向进一步强化、《住宅项目规范》正式落地；四中全会指出"推动房地产高质量发展"也为未来至少五年行业发 展奠定基调。对地产企业而言，开发让人民群众喜闻乐见的"好房子"成为实现穿越周期、实现健康可持续发展的根本。 历时两个多月的综合数据筛选、产品调研、产品力模型测评等环节， 2025中国房企产品测评全国入围项目正式揭晓！ 入围榜发布 | 绿城 · 宁波凤栖云庐 | 绿城中国 | 宁波 | | --- | --- | --- | | 18815 瑞玺 | 招商蛇口 花海量地 | 南京 | | 厦门保利安控御宸天悦 | 保利发展 | 厦门 | | 深圳湾漂玺 | 交润量抑 中海地产 | 深圳 | | 天越云颂 | 国贸地产 | 厦门 | | 越秀 · 华发 华越 | 越秀地产 华发股份 | 广州 | | 越秀运河越 | 越秀地产 | 杭州 | | 中粮 · ...

2025年第48周 Weekly 值得一提的是，杭州本周一出让的3宗宅地均为底价成交，地块属性存在明显特殊性：要么为配建要求复杂、 开发难度较高的公交场站关联地块，要么是缺乏可比参照案例、对开发商产品溢价能力提出极高考验的低密宅 地。而周三成交的2宗宅地均溢价成交，其中萧山经开区宅地经过18轮竞价，由滨江溢价11.8%竞得，成交总 价16亿元，平均楼板价2.2万元/平方米，周边可比新房售价在4万元/平方米以上。萧山湘湖宅地也由滨江集团 经过28轮竞价竞得，成交总价8.49亿元，成交楼面价20811元/平方米，溢价率18.92%，该地块容积率1.2，目前 周边无可比新房项目。 2025年11月24日-2025年11月30日，土地供应规模高位回落，成交规模年内新高，土拍热度低位回升。 本周重点城市监测范围内，土地供应建筑面积为1529万平方米，环比回落29%，仍在年内高位；成交 建筑面积1004万平方米，环比上升25%，年内新高；本周溢价率为3.2%，环比上升2.4个百分点。 供应：本周土地供应建筑面积1529万平方米，环比下降29%。 一线城市本周无宅地供应。本周供应含宅用地 共136幅，平均容积率1.89。 ...

(城市后括号内为合计出让底价,单日超50亿标红) | 日 | - | = | = | ਵ | 五 | 六 | | --- | --- | --- | --- | --- | --- | --- | | | 1 | 2 | 3 | 4 | 5 | 6 | | | 宁波(17.7) | 青岛(20.2) | 广州(13.3) | 重庆(11.7) | 广州(27.5) | | | | 重庆(0.1) | 福州(15.4) | 办外(11.5) | 长春(2.3)成 | 南京(14.9) | | | | | 杭州(13.6) | 成都(10.8) | 都(2.1) | 办外(11) | | | | | 武汉(8.6) | 长沙(4.6) | | 重庆(10) | | | | | 成都(7.8) | 无锡(3.5) | | 宁波(7.4) | | | | | 长沙(5.4) | 济南(2.9) | | 长沙(4.4) | | | | | 重庆(2.7) | | | 济南(3.8) | | | | | 宁波(1.5) | | | 南昌(1.6) | | | | | | | | 成都(1.4) | | | 7 | 8 | ...

核心观点 新增供应： 环比由降转增1 6%，穗镐苏莞常等实现倍增 新房成交： 穗镐环比微增，徐惠珠等三四线环比显著回升 项目去化： 开盘平均去化率增3pc ts至3 5%，津苏甬等皆超6成 库存： 供求比0.82致库存微降1%，三成城市去化周期改善 二手住房： 11月成交面积环增14%，沪蓉汉宁等多城环增2成以上 ◎ 文 / CRIC研究中心 2025年11月，新房供应阶段性放量，成交持续走稳。新房供应制约成交回升的状况未有改观，30城库存面积为21890万平方米，环比微降1%，同比下降5%。二手房 成交延续由降转增，成交环比上升14%。土地市场成交规模和平均溢价率均迎来回升。 01 新增供应 环比由降转增16%，穗镐苏莞常等实现倍增 11月房企推盘积极性小幅回升， 30个重点城市11月预期新增供应669万平方米，环比增长16%。 一线城市中广州阶段性放量，环比翻番。 4个一线城市整体预计供 应面积149万平方米，环比增长23%。其中广州单月供应规模达到了61万平方米，因上月基数较低，环比翻番，同比增幅也达到了4%。 二三线城市环比增长14%， 主要得益于西安、苏州、东莞、常州等城市集中放量。 11月26个二 ...

2025年第48周，发改委召开发布会，推进基础设施REITs进一步扩围至城市更新设施、酒店、体育 场馆、商业办公设施等更多行业领域和资产类型。其后次日，证监会发文，就启动商业不动产REITs 试点征求意见。地方层面，政策发布频次进一步提高，涉及公积金、"好房子"的发布频次显著提升： 厦门、烟台、襄阳等支持直系亲属提取公积金购房；辽宁、天津、北京等"十五五"规划构建发展新模 式，推动"好房子"发展；重庆支持使用专项债券收回收购符合条件的存量闲置土地。 0 1 周度中央：发改委推动REITs扩容至商办、城更领域，证监会启动商业不动产REITs试 点 11月27日，发改委召开新闻发布会。 答记者问时提到，基础设施REITs工作自2020年启动以来， 国家发展改革 委会同证监会， 持续推动基础设施REITs市场扩围扩容。目前，发行范围已涵盖了12大行业的52个资产类型， 其中10个行业领域的18个资产类型已经实现了首单发行上市。近期，国家发展改革委正在 积极推动基础设施 REITs进一步扩围至城市更新设施、酒店、体育场馆、商业办公设施等更多行业领域和资产类型。 11月28日， 证监会发布了《中国证监会关于推出商业不动 ...

以下文章来源于克而瑞产品测评 ，作者产品力研究中心 克而瑞产品测评 . 聚焦房地产产品、交付研究及产品力、交付力测评 近年来曾经火热的国际地产大奖开始式微，这与国内地产行业逐渐成熟不无关系，随着"品质人 居"时代到来，国内专业性高、影响力强的测评也已崛起，但国际地产、设计、建筑类大奖以其全 球化的视角对国内行业仍具有一定含金量。 相比国内比较知名的詹天佑、鲁班奖关注建造技法、工程工艺等阶段，国际大奖更关注创造性、 革新性，是对国内评比的一种补足。今年以来为国内熟悉的TITAN地产大奖和MUSE设计奖都已 发布2025获奖名单，其中不乏中国地产企业送选作品，企业也通过官微等渠道加以展示，均取得 较高关注度。 9月中旬，克而瑞产品力100启动"2025中国房企产品测评"，在产品力测评发起的第八年，在行业 全面跟进"好房子"建设，立足产品力深耕的当下，克而瑞也致力提供一个追求更专业、更权威、更 具影响力的平台，为好产品、好房子发声，推动行业产品力长远而有质的发展。 景观空间类： 发掘在地养分，归于自然 本土设计占据主导 从今年国际获奖的作品来看，设计上集中体现出原创性、功能性、艺术性被关注，特别对于示范区、生 活馆 ...

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 专题 | 2025公募REITs发展现状与趋势 中国公募REITs进入新时代，或将助力房企完成战略转型。 专题 | 住宅产品会所与架空层核心功能研究 2025年中期5 0家典型上市房企的现金持有量为11867亿元，较期初减少了9. 4 9%。 专题 | 2025年上半年房企盈利能力报告——毛利率修复至10.87%，净利润维持亏损 未来，优秀的会所设计将更加注重与社区业主的适配性，不止提供丰富的场景，更将通过持续的功能创新与场 景深化，以有温度的内容运营真正触动业主。 专题 | 沪杭京等5城土地成交占四成，能否破解新房供给约束魔咒？ 沪杭 ...

Group 1: Land Auction Insights - In Hangzhou, three residential land parcels were sold at the base price, marking the first occurrence since 2025 where all parcels on a day with total transaction value exceeding 3 billion yuan were sold at the base price [5] - The land supply scale reached a new high for the year, with seven parcels exceeding 2 billion yuan listed for auction during the week of November 17-23, 2025 [8] - The average premium rate for land auctions hit a new low since the second half of the year, indicating a continued low level of auction enthusiasm [8][11] Group 2: Industry Trends - In the first nine months of 2025, leading construction companies showed a strong willingness to expand, with the top 20 companies signing contracts for a total area of 15.771 million square meters, reflecting a year-on-year increase of 31% [6] - The number of winning bids for construction projects has steadily increased, particularly in the third quarter, which saw a record high in the number of projects awarded [6] Group 3: Policy Developments - The Ministry of Housing and Urban-Rural Development emphasized the importance of urban renewal, urging local governments to adopt innovative approaches in planning, funding, operations, and governance [9] - Local policies have been accelerating, with initiatives such as encouraging the sale of existing homes in Chenzhou and offering subsidies for home purchases in Hangzhou's Yuhang District [9]

Core Viewpoint - The industry is undergoing a transformation from old to new models, with the land market expected to adjust first as a key upstream indicator [2][7]. Supply and Demand - The supply of land in November 2025 was 290 million square meters, a 250% increase month-on-month but a 9% decrease year-on-year. The transaction area was 86.04 million square meters, up 39% month-on-month but down 27% year-on-year [3][4][10]. - The overall supply and demand scale continues to decline year-on-year, indicating a contraction in the land market [4][10]. Market Heat - The average premium rate in November was 4.1%, an increase of 1.29 percentage points from the previous month. However, the bidding heat remains concentrated in a few premium areas, with many plots sold at base prices [5][20]. - In November, 9% of land parcels failed to sell, remaining at a near-low level, indicating ongoing challenges in the market [22]. Distribution - First-tier cities saw a year-on-year increase in transaction value by 43%, while second-tier cities decreased by 17%, and third and fourth-tier cities dropped by 39% [6]. Future Outlook - The land market is expected to adjust significantly as it is a leading indicator for the industry. The total land transaction area for 2025 is projected to be only 1.1 times that of new housing transactions, down from 1.8 times in 2020, indicating a shift towards a new inventory reduction cycle [7][10]. - The Ministry of Housing and Urban-Rural Development has emphasized urban renewal, which is expected to provide quality projects and support high-quality urban development, potentially stabilizing the market [8][14]. Key Land Transactions - Notable land transactions in November included a residential plot in Beijing's Chaoyang District sold for 5.024 billion yuan with a premium rate of 18.21%, and a commercial plot in Yiwu with a premium rate of 159% [27][28]. - The highest nominal floor price was recorded for a residential plot in Beijing at 81,120 yuan per square meter, reflecting the premium nature of certain urban areas [31][33].

Core Viewpoint - The article emphasizes the shift in the real estate industry from a focus on quantity to quality, marking the beginning of a "quality era" where companies with solid fundamentals will be selected through the "Good House" standards [2][4]. Group 1: Industry Transformation - The "Good House" standard signifies a transformation in the supply side of the real estate market, moving towards a quality-first approach [2]. - Major real estate companies have begun to establish their own "Good House" standards and systems, reflecting their operational capabilities and technical characteristics [2][4]. Group 2: Company Standards and Frameworks - Various companies have introduced their own "Good House" systems, such as: - Greentown China with its "Good House Product Standard 2025," which includes 231 clauses that exceed national and industry standards [4]. - China Power Construction's "Good House Product Standard," which focuses on six dimensions including safety and health [15][16]. - China State Construction's "Good House" construction system, emphasizing safety, comfort, and sustainability [26][28]. - The "Good House" frameworks from companies like China Merchants Shekou and CITIC Pacific focus on creating quality living environments through comprehensive standards and innovative technologies [21][22]. Group 3: Implementation and Innovation - Companies are actively implementing their "Good House" standards in projects, showcasing innovation and a commitment to quality [36][38]. - For instance, China Resources Land's product system emphasizes community, product, and service quality, integrating various innovative living scenarios [36]. - The establishment of "Good House" laboratories and experimental projects by companies like China National Cereals, Oils and Foodstuffs Corporation demonstrates a hands-on approach to applying these standards [40]. Group 4: Future Directions and Evaluations - The 2025 product evaluation work for Chinese real estate companies has commenced, focusing on overall corporate performance and specific project assessments [43][46]. - The evaluation will include awards for comprehensive and individual project categories, with results expected to be announced in early 2026 [46][48].