经济观察报·2025-08-10 04:44Core Viewpoint - The real estate industry is witnessing a significant increase in land acquisition activities, with major players like China Merchants Shekou leading the trend, indicating a potential recovery in the housing market despite declining sales figures [2][5][10]. Group 1: Land Acquisition Trends - In the first seven months of 2025, the top 100 real estate companies acquired land worth 578.3 billion yuan, marking a year-on-year increase of 34.3% [2][5]. - China Merchants Shekou purchased five land parcels in July 2025 for a total of 5.668 billion yuan, showing substantial growth compared to previous periods [2][5]. - The majority of land acquisitions are dominated by state-owned enterprises, with eight out of the top ten land acquirers being state-owned [2][5]. Group 2: Sales Performance - The sales performance of major real estate companies has declined, with a reported 49.5% drop in signed area and a 53.26% decrease in signed amount for China Merchants Shekou in the first seven months of 2025 [5][10]. - The overall sales revenue for the top 100 real estate companies fell by 13.3% year-on-year in the same period, with July 2025 seeing an 18.2% decline [5][10]. Group 3: Market Dynamics - The contrasting trends of increasing land acquisition and declining sales suggest a complex market situation, where companies are preparing for future demand despite current sales challenges [5][10]. - Factors contributing to the increased land acquisition include lower land prices compared to previous peaks and improved financial conditions for many companies [6][10]. - The emergence of new high-priced land parcels, such as the record-breaking land price in Shenzhen, reflects a shift towards high-quality land offerings in core urban areas [8][9]. Group 4: Future Outlook - Experts suggest that while the current land acquisition trends may indicate a potential market recovery, the overall real estate market is still in a slow stabilization phase [14]. - The government's recent policy adjustments aimed at optimizing the housing market are expected to enhance market expectations and activity, contributing to a gradual recovery [14].