中指研究院：前三季度全国法拍房市场规模收缩 成交均价同比减10.8%

Core Insights - The national judicial auction market in China has seen a decrease in the number of auctioned properties, with 547,000 properties listed by the end of September 2025, down approximately 4.9% from 576,000 in the same period of 2024 [1][10] - The total transaction amount for judicial auctions in the first three quarters of 2025 reached 185.8 billion yuan, a year-on-year decrease of 21.3% [10][42] Summary by Category Overall Market Performance - In the first three quarters of 2025, the judicial auction market recorded 944,000 auction sessions, with 123,000 successful transactions, resulting in a transaction success rate of 13.1% and an average discount rate of 74.4% [1][3] - The total transaction amount for the first three quarters was 185.8 billion yuan, with residential properties accounting for 994 billion yuan, representing 53.5% of the total [10][42] Residential Properties - The number of newly listed residential auction properties was 199,000, with 247,000 properties available for auction and 82,000 successfully sold, accounting for 67.1% of total transactions [7][10] - The average transaction price for residential properties was 8,545 yuan per square meter, with a year-on-year decrease of 14.7% [10][18] Commercial Properties - The commercial auction market saw 128,000 properties listed, a decrease of 12.3% year-on-year, with 22,000 transactions completed, down 7.1% [33][34] - The total transaction amount for commercial properties was 41.77 billion yuan, reflecting a 21.3% decline compared to the previous year [33][34] Regional Insights - The top 50 cities accounted for 77.1% of total transactions, with significant activity concentrated in coastal regions such as Zhejiang and Guangdong [21][27] - In the first three quarters, Chongqing led in residential transactions with 4,894 properties sold, while Shanghai had the highest transaction amount for commercial properties at 2.51 billion yuan [23][38] Auction Dynamics - The auction process included various stages, with 48,000 properties sold in the first auction stage, representing 39% of total transactions, an increase of 2.4 percentage points from 2024 [13][42] - The average discount rate for commercial properties was 70.0%, with the highest recorded in Nanning at 103.1% [38][40]