2025年现房销售已超30%

Core Viewpoint - The acceleration of the "immediate delivery" housing sales model in China is being driven by recent policy reforms aimed at enhancing the real estate market, with a notable increase in the proportion of existing home sales reaching a decade-high of 32.16% in early 2025 [2][9][12]. Group 1: Policy Developments - The national housing and urban-rural development conference in December 2024 emphasized the need to reform the commodity housing sales system and promote immediate delivery sales [1][7]. - As of May 2025, the Housing and Urban-Rural Development Bureau of Xinyang, Henan, mandated that all newly developed commodity housing on newly sold land must adopt the immediate delivery sales model [4][6]. - At least 32 provinces and cities have initiated pilot programs for immediate delivery sales since 2024, although comprehensive implementation remains challenging [3][8]. Group 2: Market Trends - The proportion of immediate delivery sales in China rose to 32.16% in early 2025, up from 26.97% in 2024, marking a significant recovery from a low of 10.16% in 2020 [2][9]. - The increase in immediate delivery sales is largely attributed to a shift in buyer preferences due to market conditions, with many existing homes being sold as a result of unsold inventory rather than proactive choices by developers [12][16]. Group 3: Economic Implications - The transition to immediate delivery sales is expected to lengthen the cash flow cycle for projects, impacting profitability, particularly for high-end developments [15][17]. - The current market environment is characterized by a contraction phase, with policies focusing on optimizing existing inventory and enhancing quality in the housing sector [16][18].