Core Insights - The opening of Shenzhen Bay Yunxi on November 30 set a new record for new home sales in China, achieving approximately 13 billion yuan in sales on the first day, surpassing previous records for 2025 [1][7] - The project, developed by China Resources Land and China Overseas Property, is located in a prime area and features large floor plans, which contributed to its high demand and rapid sales [2][5] Sales Performance - The project launched 348 units with sizes ranging from 209 to 1149 square meters, achieving a near 70% sales rate on the opening day [1][5] - The average selling price for the units was approximately 16.88 million yuan per square meter, with some units priced as high as 35 million yuan per square meter [3][4] Market Trends - High-end residential properties are experiencing a surge in demand, contrasting with the sluggish performance of the general housing market, which saw a 6.8% decline in sales area and a 9.6% drop in sales revenue year-on-year [10][11] - In the first three quarters of 2025, transactions for luxury homes priced over 10 million yuan increased by 15.6% compared to the same period in 2024, indicating a robust market for high-end properties [8][10] Future Outlook - The trend of high-end residential sales is expected to continue, supported by government policies that favor the development of luxury housing and the limited supply of such properties in core urban areas [5][11] - Upcoming projects in Shenzhen, such as CITIC Xinyue Bay and other luxury developments, are anticipated to further stimulate the high-end market [5][11]

Core Insights - The opening of Shenzhen Bay Yunxi on November 30 set a new record for new home sales in China, with a single-day sales figure of approximately 13 billion yuan [2][9] - The project, developed by China Resources Land and China Overseas Property, features 348 units with sizes ranging from 209 to 1149 square meters, and achieved a near 70% sales rate on the first day [2][3] Group 1: Sales Performance - The project sold out large units of 500, 700, and 1149 square meters on the first day, with prices ranging from 25,000 to 28,000 yuan per square meter, totaling between 13 million and 33 million yuan [2][5] - The average registration price for the 348 units was approximately 16,880 yuan per square meter, with some units priced as high as 35,000 yuan per square meter [4][5] Group 2: Market Context - The high-end residential market is experiencing a surge, contrasting with the ongoing adjustment in the first-time buyer segment, as evidenced by a 15.6% increase in transactions for properties priced over 10 million yuan in key cities [10][12] - The demand for high-end properties is driven by their perceived value as "hard currency" in the market, particularly in core urban areas with unique resources [7][8] Group 3: Future Outlook - The trend of high-end residential sales is expected to continue, with several upcoming projects in Shenzhen, indicating a robust market despite broader economic adjustments [7][12] - The government's easing of housing policies and the introduction of new residential land are likely to support the development of high-end properties, enhancing their appeal [7][12]

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 | 截至月份: | 2025年11月30日 | 狀態: 新提交 | | --- | --- | --- | | 致：香港交易及結算所有限公司 | | | | 公司名稱: | 中國海外發展有限公司 | | | 呈交日期: | 2025年12月1日 | | | I. 法定/註冊股本變動 不適用 | | | FF301 第 1 頁 共 10 頁 v 1.1.1 FF301 II. 已發行股份及/或庫存股份變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 00688 | 說明 | | | | | | | | | 已發行股份（不包括庫存股份）數目 | | 庫存股份數目 | | 已發行股份總數 | | | 上月底結存 | | | 10,944,883,535 | | 0 | | 10,944,883,535 | | 增加 / 減少 (-) | | | ...

广告 前不久，塔湾街地铁口地块正式定名"沈阳地铁·崇山和悦"，标志着皇姑西部区域今年下半年已有两个纯新盘亮相，而中海J地块也预计在2026年登场。 金地、沈阳地铁置业、中海等头部房企纷纷布局，沈阳地铁置业官宣两个项目中就有一个落子塔湾，这个板块究竟有何"魔力"，吸引如此多行业巨头？ 塔湾的"整容式变脸" 今年初，有媒体将塔湾板块比作"熹妃回宫"，到了年末，这一预言已成现实：塔湾一跃成为沈阳楼市的热门板块。 数据显示，沈阳地铁正式官宣的崇山和悦项目，不仅刷屏朋友圈，更引发行业强势围观。而此前，金地峯玺壹号营销中心于10月末开放，当天自然到访超 1000组，样板间更是出现购房者"排队打卡"的景象。 与此同时，中海J地块虽未正式亮相，却已成为众多购房者每日关注的焦点。从目前态势看，塔湾的热度不仅将持续至明年，几个新项目的价格也成市场 焦点。金地峯玺壹号高层预计170万/套起，洋房220万/套起。有评论认为，照此趋势，塔湾板块"破一争二"已非空谈。 结合塔湾二手房环比5%的涨幅来看，说一句塔湾正在"重回两万时代"，亦不为过。当然也会有人问，"它哪里值两万了"？甚至会问，在"体感普降"的当 下，塔湾怎么可能"破二"？ ...

Group 1: Beijing's 15th Five-Year Plan - Beijing's 15th Five-Year Plan emphasizes the improvement of the "market + guarantee" housing supply system and the establishment of a rental and purchase system, prioritizing land supply near transit stations [1] - The plan aims to enhance the supply of affordable housing, focusing on urban working groups and low-income families, while also increasing the effective supply of rental housing [1] - Initiatives include the development of high-quality housing, enhancing property services, and implementing a safety management system for the entire lifecycle of housing [1] Group 2: Changzhou's New Housing Policy - Changzhou's new policy mandates the definition of residential types for land sales, encourages improved architectural design, and promotes smart home features [2] - The policy increases the public housing loan limit by 500,000 yuan for high-quality residential purchases without a maximum cap, supporting citizens in upgrading their homes [2] Group 3: Beijing Land Auctions - China Overseas Land & Investment won a plot in Tongzhou District for 1.248 billion yuan, with a floor price of approximately 22,900 yuan per square meter and a premium rate of 0.97% [3] - Maoyuan Real Estate acquired a plot in Chaoyang District for 5.024 billion yuan, with a floor price of about 62,100 yuan per square meter and a premium rate of 18.21% [5] - Beijing Urban Construction secured a plot in Fangshan District for 1.471 billion yuan at the base price, with a floor price of approximately 18,100 yuan per square meter [5] Group 4: Other City Land Auctions - In Shanghai, nine plots were sold for a total of 17.333 billion yuan, with some plots sold at a premium [4] - Hangzhou sold five residential plots for approximately 6.794 billion yuan, with several plots sold at base prices [6] - Suzhou's two residential plots were sold at base prices for a total of 1.42 billion yuan [7] - Wuhan's twelve plots sold for about 3.97 billion yuan, with a significant portion being residential land [8] Group 5: Real Estate Market Trends - The top 100 real estate companies acquired land worth 847.8 billion yuan from January to November, marking a year-on-year increase of 14.1% [10] - China State Construction Engineering issued the first commercial real estate ABS in China, with a scale of 1.246 billion yuan [11] - Ocean Group's debt restructuring plan for seven domestic bonds totaling 13.05 billion yuan was approved [11] - Vanke plans to hold a meeting to discuss the extension of a 2 billion yuan medium-term note [11]

中指研究院发布的最新数据显示，2025年前11个月，权益拿地金额TOP100房企拿地总额为8478亿元， 同比增长14.1%，延续增长态势。 TOP10房企(按全国拿地金额计算)拿地金额占权益拿地金额TOP100房企的比例超过50%，拿地集中度较 高。 展望全年，严跃进表示，四季度房企普遍回归"现金流优先"的经营思路，部分企业适度收紧投资节奏， 使得年末拿地趋于平稳。但从结构来看，热点城市和核心板块的土拍活跃度仍有支撑，民营房企的回归 也在强化市场预期。预计2025年优质房企全年拿地金额将保持温和增长态势，增速较前三季度有所收 窄，但仍将维持在正区间。 从各城市群拿地积极性来看，今年前11个月，长三角TOP10房企(按长三角拿地金额计算)拿地金额2738 亿元，位居四大城市群之首；京津冀TOP10房企(按京津冀拿地金额计算)拿地金额1060亿元，位列第 二；中西部TOP10房企(按中西部拿地金额计算)拿地金额602亿元，位居第三。 (责任编辑：王晨曦) "长三角区域人口持续流入，奠定了其坚实的住房需求基础，确保了楼盘快速销售和资金回笼，相较于 其他区域，长三角市场虽竞争激烈，但为房企提供了确定性和安全边际，使 ...

中指研究院发布的最新数据显示，2025年前11个月，权益拿地金额TOP100房企拿地总额为8478亿元， 同比增长14.1%，延续增长态势。 11月单月，民营房企拿地较为活跃，通过联合国企拿地，聚焦优势区域独立拿地，当月在热点一二线核 心城市建立了相应的优势。例如，金沙鹭岛房地产开发有限责任公司在成都经过35轮竞价以3.37亿元竞 得成都郫都区一地块，溢价率39.53%。总的来看，民营房企依旧集中在自身优势区域拿地深耕。 从新增货值来看，中海地产、招商蛇口和绿城中国位列前三。2025年1月份至11月份，中海地产新增货 值规模为1963亿元，招商蛇口新增货值规模为1833亿元，两家企业均通过获取上海城市更新项目，货值 得以大幅提升。绿城中国新增货值规模为1293亿元，位列第三。TOP10房企（以新增货值计算）2025年 前11个月新增货值总额11446亿元，占TOP100房企的47.1%。 从整体表现来看，头部企业保持领先态势。其中，中海企业发展集团有限公司（以下简称"中海地产"） 以870亿元拿地金额位列榜首；绿城中国控股有限公司（以下简称"绿城中国"）以588亿元排名第二，招 商局蛇口工业区控股股份有限公司 ...

证券研究报告 | 行业周报 gszqdatemark 2025 11 30 年 月 日 房地产开发 2025W48：本周新房成交因基数同比大幅减少，年末房企拿地积极性降低 年末房企拿地积极性有所降低。根据中指数据，1-11 月 TOP100 房企拿地 总额 8478 亿元，同比+14.1%，增幅较 1-10 月大幅收窄。今年上半年， 部分核心城市核心地段土地市场相对热度较高，结构性的成交带动了全国 土地市场出让金额的增长；但随着头部房企补库目标的达成以及下半年新 房市场进一步走冷，年末房企拿地积极性有所降低。从榜单看，1-11 月权 益拿地金额排名前 5 的分别是中海地产、绿城中国、招商蛇口、保利发展、 华润置地。从新增货值看排名前 5 的分别是中海地产、招商蛇口、绿城中 国、保利发展、华润置地。 行情回顾：本周申万房地产指数累计变动幅度为 0.7%，落后沪深 300 指 数 0.92 个百分点，在 31 个申万一级行业排名第 24 名。 新房：本周 30 个城市新房成交面积为 187.5 万平方米，环比提升 9.3%， 同比下降 50.7%，其中样本一线城市的新房成交面积为 55.2 万方，环比 +27.5 ...

从区域楼市看，通州今年入市新盘包括招商·朝棠揽阅、中建·运河玖院、中铁建·花语璟云等。 "对于开发企业来说，九棵树南地块若想在红海中突围，严谨的定价策略是其中重要一环。此外，项目 可充分借助临铁属性与成熟配套，有效吸引地缘改善及国贸CBD外溢刚需客群。"张凯表示，在当前买 方占主导的市场格局下，开发商如何在保持合理利润的同时实现快速去化，并赢得市场认可，已成为考 验企业综合运营能力的重要课题。 编辑 陈莉 该地块为二类居住用地，土地面积约2.47万平方米，规划建筑面积约5.44万平方米，容积率为2.2，建筑 高度控制在45米，局部可以达到60米。从规划条件看，预计打造洋房与小高层相结合的产品。 据悉，土地出让文件对城市设计和建筑风貌提出了细致要求，鼓励采用围合式院落布局，形成"东北高 西南低"的天际线格局。 中指研究院土地市场研究负责人张凯表示，需要注意的规划细节是，沿九棵树中路西侧退线20米，这会 导致原本的容积率升高，对产品规划设计提出更高的要求。此外，该地块北侧还规划有一宗住宅用地， 若由同一主体开发，地下空间可实现联通，有望形成规模效应。 新京报贝壳财经讯 （记者袁秀丽）北京土地市场进入密集供应期，交 ...

（文章来源：北京商报） 北京商报讯11月28日，中指研究院发布数据显示，2025年1—11月，TOP100企业拿地总额8478亿元，同 比增长14.1%。从新增货值来看，中海地产以1963亿元新增货值位列第一，招商蛇口新增货值规模为 1833亿元，位列第二，绿城中国新增货值规模为1293亿元，位列第三。 ...