报告：至三季度末核心八城集中式公寓规模超143万套

Core Insights - The report from CRIC Real Estate Research Center indicates a significant increase in the supply of long-term rental apartments in 22 key cities in China, with approximately 132 new projects and around 57,100 new units expected to enter the market by Q3 2025, representing a year-on-year growth of about 55% [1] - The supply of affordable rental housing is projected to be 40,966 units, accounting for approximately 72% of the total new supply, which is a year-on-year increase of about 53% [1] - The market for long-term rental apartments is evolving into a dual-track structure, with state-owned enterprises (SOEs) gaining a significant market share, surpassing 15% among the top 30 companies in the housing rental market by mid-2025 [4] Market Trends - By Q3 2025, the core eight cities (Beijing, Shanghai, Guangzhou, Shenzhen, Nanjing, Hangzhou, Wuhan, Chengdu) are expected to have a total of approximately 1.4313 million units of centralized apartments, with affordable rental housing making up 665,700 units, or about 47% of the total [4] - The growth of SOEs in the housing rental market is notable, with their annual scale growth exceeding 60,000 units over the past two years, indicating a clear trend of accelerated expansion [5] - Local SOEs are focusing on the collection, construction, and operation of affordable rental housing, utilizing strategies such as revitalizing idle properties into affordable rental units, which has become the mainstream model [5] Strategic Developments - Local SOEs are enhancing their brand and systematic construction capabilities while partnering with leading professional long-term rental apartment operators to compensate for their operational shortcomings [5] - The increasing support from national and local governments for housing rental policies is facilitating the rise of SOEs in the market, marking a shift towards a more SOE-dominated landscape in the housing rental sector [4]