此番地产行情走强，得益于多重积极信号叠加催化。 政策层面，2月25日，上海市住房城乡建设管理委、市房屋管理局等五部门联合印发《关于进一步优化调整本市房地产政策 的通知》，自2026年2月26日起施行，主要包括三方面：进一步调减住房限购政策、优化住房公积金贷款政策和完善个人住 房房产税政策。 其中，限购方面，非沪籍外环内购房社保门槛降至1年；缴纳社保/个税满 3 年可增购1套；持居住证满5年可购1套住房，无 需提供社保或个税证明。公积金方面，首套贷款最高额度提至240万（多子女家庭贷款最高额度可达324万元），并放宽二 套贷款认定。税收方面，成年子女首套房暂免征收个人住房房产税。 上海易居房地产研究院副院长严跃进表示，上海发布楼市新政，充分体现上海综合施策、因城施策、发挥好存量和增量政 策集成效应的导向，亦符合2026年住房消费工作的相关要求。此次新政将在降低购房成本的同时，进一步促进住房消费需 求积极释放和供求关系平衡，亦进一步巩固当前楼市稳中向好的态势。 除政策利好外，春节期间，房企积极促销，多地项目"春节不打烊"，以特惠房源、购房折扣等促销活动，为市场"小阳 春"提前蓄力。 2月25日，港股、A股两市的地 ...

2月25日，港股三大指数午后持续回落，恒生科技指数表现相对较弱，最终收跌0.19%，恒生指数、国企指数分别上涨0.66%及0.3%，总体止步昨日大跌行 情。 | 名称 | | 最新价 | 涨跌额 | 涨跌幅 | | --- | --- | --- | --- | --- | | 恒生指数 | 17 | 26765.72 | +175.40 | +0.66% | | 800000 | NN | | | | | 国企指数 | Las 15 | 9034.75 | +26.89 | +0.30% | | 800100 | | | | | | 恒生科技指数 | winner | 5260.50 | -10.20 | -0.19% | | 800700 | | | | 日間磨口 | 盘面上，权重科技股部分止跌反弹，美团涨1.6%，阿里巴巴、腾讯、京东小幅上涨；上海发布楼市"沪七条" 进一步调减住房限购政策，内房股拉升，带领 钢铁股、建材水泥股等产业链齐涨；铜、铝、黄金股等有色金属股集体活跃；春节餐饮需求表现较好，海底捞领涨餐饮股。另一方面，半导体存储概念股多 数回撤，澜起科技跌超7%；纸业股、电力股、水务股、汽车股表现 ...

来源：第一财经 碧桂园涨超6%，建发国际集团涨超5%，龙湖集团、旭辉控股集团涨近5%，融创中国涨超4%，富力地 产、华润置地涨超3%。 (本文来自第一财经) ...

内房股午前涨幅居前，截至发稿，碧桂园（02007）上涨8.07%，报0.335港元；建发国际集团（01908） 上涨6.74%，报15.84港元；旭辉控股（00884）上涨7.23%，报0.089港元；龙湖集团（00960）上涨 4.80%，报10.26港元。 客户端 内房股午前涨幅居前，截至发稿，碧桂园（02007）上涨8.07%，报0.335港元；建发国际集团（01908） 上涨6.74%，报15.84港元；旭辉控股（00884）上涨7.23%，报0.089港元；龙湖集团（00960）上涨 4.80%，报10.26港元。 责任编辑：卢昱君 热点栏目 自选股 数据中心 行情中心 资金流向 模拟交易 客户端 热点栏目 自选股 数据中心 行情中心 资金流向 模拟交易 责任编辑：卢昱君 ...

格隆汇2月25日｜港股市场内房股集体上涨，其中，碧桂园涨8%，建发国际集团涨超6%，绿城中国涨 5%，龙湖集团、金辉控股、旭辉控股集团、融信中国、中国海外宏洋集团、越秀地产、中国金茂、华 润置地、融创中国涨超4%。 | 代码 | 名称 | | 涨跌幅 V | 最新价 | 总市值 | 年初至今涨跌 | | --- | --- | --- | --- | --- | --- | --- | | 02007 | 碧桂园 | 0) | 8.06% | 0.335 | 139.99亿 | -19.28% | | 01908 | 建发国际集团 | | 6.54% | 15.810 | 354.17亿 | 1.02% | | 03900 | 绿城中国 | | 5.04% | 11.470 | 291.29 Z | 35.42% | | 00960 | 龙湖集团 | | 4.90% | 10.270 | 723.18亿 | 19.98% | | 09993 | 金辉控股 | | 4.85% | 1.730 | 69.98亿 | -5.98% | | 00884 | 旭辉控股集团 | | 4.82% | 0.087 | 14. ...

每经AI快讯，2月25日，港股内房股盘初走强，碧桂园涨超6%，龙湖集团、旭辉控股集团涨近5%，融 创中国涨超4%。 （文章来源：每日经济新闻） ...

天风证券（601162）发布研报称，受春节假期因素影响，房地产供需两端均进入传统淡季，30大中城市 商品房成交面积季节性回落。节前1月的地方两会部署"稳楼市"政策，多地明确表示将着力稳定房地产 市场、推进城市更新，从稳市场和优存量两方面发力，节后重点关注2月下旬地产销售回暖节奏及3月上 旬全国两会的房地产政策定调。 中银国际认为，当前房地产行业仍然面临一定压力。当前防范地产及相关风险仍是首位，市场的惯性下 滑及不断蔓延的看跌预期也可能会倒逼政策尽快出台。2026年全年来看，地产板块出现收益的机会较 大，今年建议关注及配置。节奏上，可能会出现两个拐点，一个是一季度末左右的"政策拐点"，一个是 四季度左右的"基本面拐点"。 内房股涨幅居前，截至发稿，碧桂园(02007)涨6.45%，报0.33港元；建发国际集团(01908)涨5.59%，报 15.67港元；旭辉控股(00884)涨4.82%，报0.087港元；龙湖集团(00960)涨4.49%，报10.23港元。 ...

智通财经APP获悉，内房股涨幅居前，截至发稿，碧桂园(02007)涨6.45%，报0.33港元；建发国际集团 (01908)涨5.59%，报15.67港元；旭辉控股(00884)涨4.82%，报0.087港元；龙湖集团(00960)涨4.49%，报 10.23港元。 中银国际认为，当前房地产行业仍然面临一定压力。当前防范地产及相关风险仍是首位，市场的惯性下 滑及不断蔓延的看跌预期也可能会倒逼政策尽快出台。2026年全年来看，地产板块出现收益的机会较 大，今年建议关注及配置。节奏上，可能会出现两个拐点，一个是一季度末左右的"政策拐点"，一个是 四季度左右的"基本面拐点"。 天风证券发布研报称，受春节假期因素影响，房地产供需两端均进入传统淡季，30大中城市商品房成交 面积季节性回落。节前1月的地方两会部署"稳楼市"政策，多地明确表示将着力稳定房地产市场、推进 城市更新，从稳市场和优存量两方面发力，节后重点关注2月下旬地产销售回暖节奏及3月上旬全国两会 的房地产政策定调。 ...

Investment Rating - The report maintains a "Positive" rating for the real estate and property management sectors [3][4][60] Core Insights - The report indicates that new home sales during the Spring Festival period saw a year-on-year increase of 5.4%, with a total of 9.3 million square meters sold across 16 major cities [3][14] - The report highlights a significant recovery in the real estate market, with February sales in 34 cities showing an 88.5% year-on-year increase compared to January [9][10] - The report emphasizes the importance of government policies aimed at stabilizing the real estate market, including measures to address local government debt risks and promote housing supply [3][4] Summary by Sections Industry Data - New home sales in 34 key cities decreased by 1.1% week-on-week before the Spring Festival, with a total of 192.3 million square meters sold [4][5] - In February, new home sales in 34 cities increased by 88.5% year-on-year, with first and second-tier cities showing a 96.8% increase [9][10] - The report notes that the inventory of unsold residential properties in 15 cities was 88.7 million square meters, with a slight decrease of 0.1% week-on-week [60] Policy News - The report mentions that the publication "Qiushi" reiterated the need to stabilize the real estate market, with 12 commercial real estate REITs submitted for approval [3][4] - Various local governments have introduced new policies to stabilize the real estate market, including measures to optimize housing supply and activate existing stock [3][4] Company Dynamics - The report tracks sales data from major real estate companies, noting that China Jinmao and China Resources Land reported strong sales figures in January [3][4] - The report highlights the performance of the real estate sector, with the SW Real Estate Index declining by 0.69% compared to a 0.36% increase in the CSI 300 Index [3][4] Investment Analysis - The report recommends investing in high-quality real estate companies and commercial properties, citing an expected recovery in profitability for quality firms as the market stabilizes [3][4] - Specific recommendations include companies such as Jianfa International, Binhai Group, and China Jinmao for quality real estate, and New City Holdings and China Resources Land for commercial real estate [3][4]

Investment Rating - The report maintains a "Positive" rating for the real estate and property management sectors, highlighting the potential for recovery in quality real estate companies and commercial properties [3]. Core Insights - The report indicates that new home sales during the Spring Festival period saw a year-on-year increase of 5.4%, with a total of 9.3 million square meters sold across 16 major cities [3][13]. - The overall sentiment in the real estate market is improving, driven by recent government policies aimed at stabilizing the market and addressing local government debt risks [3]. - The report emphasizes that the fundamental bottom of the real estate sector is approaching, with expectations for quality companies to recover profits more quickly and flexibly [3]. Summary by Sections 1. Industry Data - New home sales in 34 key cities during the week before the Spring Festival totaled 192.3 million square meters, a decrease of 1.1% week-on-week, but an increase of 56.6% compared to the average weekly sales this year [4]. - In February, new home sales in 34 cities increased by 88.5% year-on-year, with first and second-tier cities showing a 96.8% increase [9]. - The inventory of new homes in 15 cities was reported at 8,870.4 million square meters, with a slight decrease of 0.1% week-on-week [54]. 2. Policy News - The report notes that the government has reiterated its commitment to stabilizing the real estate market, with various local policies being introduced to optimize housing supply and manage existing stock [3]. - Specific measures include the promotion of REITs in commercial real estate, with 12 applications submitted recently [3]. 3. Company Dynamics - Sales data for major real estate companies in January showed mixed results, with China Jinmao reporting a 13.6% increase in sales, while other companies like Poly Developments saw a 13.3% decrease [3]. - The report highlights the performance of the property management sector, which has shown resilience compared to the broader market [3]. 4. Market Performance - The SW Real Estate Index fell by 0.69%, underperforming the Shanghai and Shenzhen 300 Index, which rose by 0.36% [3]. - The report suggests that the current valuation levels for quality real estate companies are at historical lows, making them attractive for investment [3].