中指研究院：2025年末TOP30企业开业规模榜合计开业房源量达142.5万间

Core Insights - The report from the China Index Academy indicates that by the end of December 2025, the top 30 housing rental companies in China will have a total of 1.425 million operational units, an increase of 168,000 units from the end of 2024, while the total management scale will reach 2.034 million units, up by 213,000 units from the previous year [1][5]. Industry Overview - The average rental price in 50 cities in December 2025 is projected to be 34.16 yuan per square meter per month, reflecting a month-on-month decrease of 0.60% and a year-on-year decrease of 3.62% [1]. - The central government focuses on three main areas: optimizing the supply of affordable housing, strengthening financial support, and improving housing quality [1][26]. Company Rankings - The top three companies by operational scale in December 2025 are: 1. Vanke Boyu with 203,310 units 2. Longfor Guan Yu with 127,000 units 3. Xinyu International with 95,352 units [2][5]. Company Dynamics - In December, several local state-owned enterprises launched multiple affordable rental housing projects, including the first project in Hangzhou that repurposes existing stock into affordable housing [11]. - Companies like Guangzhou Bus Group and Xiamen Anju have made significant strides in their rental housing operations, with projects achieving full occupancy within a short time frame [11][18]. Financing Trends - The housing rental market continues to see financial support, with public REITs and ABS projects being launched, including a successful fundraising of 1.133 billion yuan for the Huaxia Fund's Vanke Boyu REIT [23][24]. - The first affordable housing re-loan in Yunnan province was successfully implemented, marking a significant step in financial support for the housing rental market [25]. Policy Developments - The central government emphasizes the importance of optimizing the supply of affordable housing and enhancing financial support, with specific measures to encourage the acquisition of existing properties for affordable housing [26][27]. - Local governments are implementing detailed regulations to support the central policy, focusing on revitalizing existing stock and providing targeted support for young talents and families with multiple children [30][31].