尽管多个城市的土地供应量有所下降，但记者在梳理多个重点城市的2025年住房发展年度计划时发现， 各个城市对于房子"质量"的要求明显提高。不少城市表示，要加快"好房子"建设。例如，北京提出大力 建设"好房子"，更好满足多样化住房需求。加大新开发居住区配套设施建设力度，稳定市场预期。 以深圳为例，多宗优质住宅地块将在近期出让，其中就包括前海、龙华、光明的优质地块。而且，深圳 最新推出的住宅地块容积率普遍较低，更具备完善的交通和公共配套，有助于提高房企拿地的积极性。 深圳一家大型房企的营销负责人表示，低容积率意味着地块能够做出更高端的产品，房企也有机会做出 更出彩的产品，吸引更多客户，从而实现溢价。 近段时间以来，重点城市纷纷推出优质住宅地块，房企拿地热情有所提升。其中，多家民营房企更是重 新出现在土拍现场。 另据不完全统计，上海、杭州、成都、福州、重庆、武汉等重点城市在5月进行了住宅地块出让，市场 热度持续，多个城市的核心区地块也竞拍出高溢价。中指研究院的数据显示，5月杭州住宅用地出让金 合计达93亿元，单月出让金仅次于上海，平均溢价率达到25.1%。截至6月3日，6月重点城市已公告的 居住用地待拍清单中，上海、 ...

"曾经智能手机和新能源汽车推动手机行业和汽车行业产品升级，扭转市场下行趋势。与这些场景类 似，'好房子'在当前市场需求动力不足的情况下，成为房地产企业的一次自救革命。"6月5日，58安居 客研究院分析师盛福杰在北京媒体交流会上表示。 2025年政府工作报告提出，要适应人民群众高品质居住需要，完善标准规范，推动建设安全、舒适、绿 色、智慧的"好房子"，"好房子"首次写入政府工作报告。住房城乡建设部发布国家标准《住宅项目规 范》5月1日起施行，新建住宅建筑层高不应低于3米，4层及以上新建住宅建筑，每个住宅单元应至少设 置1台电梯，此外对噪声限值、保温隔热以及通风等提出要求。 "好房子"并非新生事物，不同时期对好房子的定义也不尽相同。到2025年，全国合力推进"好房子"建 设，国家层面的标准具有更广、更严、更细的特点，而地方则因地制宜制定更高标准。从"住有所 居"到"住有好居"，新房"好房子"建设"和二手房"好房子"改造正全面化的推进。 什么是"好房子"？ 从用户线上平台浏览情况来观察真实需求，"3A级"好房子"找房热度明显高于其他评级房源。"盛福杰以 重庆一个项目为例称，这个项目内部的第四代住宅较非四代住宅存在明 ...

证券研究报告 唐志玮 tangzhiwei@huayuanstock.com 建筑材料 行业定期报告 hyzqdatemark 2025 年 06 月 09 日 证券分析师 戴铭余 SAC：S1350524060003 daimingyu@huayuanstock.com 王彬鹏 SAC：S1350524090001 wangbinpeng@huayuanstock.com 郦悦轩 SAC：S1350524080001 liyuexuan@huayuanstock.com 朱芸 SAC：S1350524070001 zhuyun@huayuanstock.com 板块表现： 三峡水运新通道带来新需求空间，潜在投资机会或先行 投资评级： 看好（维持） ——建筑材料行业周报（25/06/02-25/06/08） 投资要点： 风险提示：经济恢复不及预期，化债力度不及预期，房地产政策不及预期 请务必仔细阅读正文之后的评级说明和重要声明 联系人 三峡水运新通道带来新需求空间，潜在投资机会或先行。2024 年 6 月 6 日，交 通运输部发布《关于新时代加强沿海和内河港口航道规划建设的意见》，明确提 及优化主干线大通道， ...

Core Viewpoint - The combination of policies implemented by various departments has effectively stabilized the real estate market, with measures aimed at reducing purchasing thresholds and easing mortgage burdens [1][2][4] Group 1: Policy Measures - Multiple departments have launched a series of policies to optimize the real estate market, including lowering mortgage interest rates and adjusting housing policies to enhance precision and effectiveness [1] - In May, the Loan Prime Rate (LPR) saw its first decline of the year, with some banks in major cities reducing first-home loan rates to 3.05% [1] - Local governments are actively adjusting policies to lower transaction costs and thresholds, which is expected to facilitate demand and promote the circulation of new and second-hand homes [1][2] Group 2: Market Performance - The real estate market has shown signs of stability, with an average of 40 second-hand home transactions per weekend in Beijing since May [2] - National statistics indicate that from January to April, the sales area and sales volume of new residential properties in 40 key cities increased by 0.1% and 2% year-on-year, respectively [2] - In major cities like Shenzhen and Guangzhou, new home sales increased by 41% and 24% year-on-year, while second-hand home transactions in Shenzhen rose by 44% [2] Group 3: Inventory Management - Efforts to manage existing inventory are crucial for the stable development of the real estate market, with various regions implementing policies to control new supply while promoting the absorption of existing stock [3] - In Nanjing, a talent housing voucher program has successfully facilitated the purchase of homes, with over 1.1 million yuan in vouchers issued to help clear inventory [3] Group 4: Quality Housing Initiatives - Initiatives to promote the construction of high-quality housing are underway, with cities like Beijing and Shandong implementing pilot projects and policies to enhance residential quality [4] - The release of national standards for residential projects aims to improve the quality of housing supply, catering to diverse living needs and enhancing public spaces [4]

Group 1 - The current real estate market is characterized by three main trends, with "good houses" becoming a key driver of demand and market stability [1] - The government has emphasized the need to meet public demand for high-quality housing, leading to the introduction of various policies aimed at promoting the construction of safe, comfortable, green, and smart "good houses" [1][2] - A survey by 58 Anjuke indicates that buyers are increasingly inclined towards "good houses," with a focus on comfort, including factors like ventilation, lighting, and space layout [1][3] Group 2 - The establishment of "good house" standards is influencing real estate companies to transition from product providers to service providers, focusing on lifecycle management and smart community operations [2] - By 2025, there will be a nationwide push for "good house" construction, with national standards becoming broader, stricter, and more detailed, while local standards will be tailored to specific conditions [2] - A survey conducted in March revealed that 61.6% of respondents prioritize "residential comfort" when purchasing a home, with significant emphasis on natural lighting and ventilation [3] Group 3 - Since 2021, the total transaction volume in the national real estate market has declined from 18 trillion to 9 trillion, with projections suggesting a further drop to 7 trillion [4] - In key cities, the demand for improved housing is predominant, with a noticeable shift towards larger living spaces, as the proportion of units under 90 square meters decreases [4] - The luxury and entry-level housing markets are diverging, with luxury properties in first-tier cities performing well, while ordinary residential properties are experiencing a downturn [4]

Core Viewpoint - The construction of "good houses" is accelerating in China, with the implementation of national standards and a shift in focus from large and expensive houses to quality and affordable housing solutions [3][4][5]. Group 1: Implementation of Standards - The national standard "Residential Project Specification" was fully implemented on May 1, marking the beginning of the "standardization" era for "good houses" [4]. - The Ministry of Housing and Urban-Rural Development emphasized that "good houses" should not be equated with "large houses" or "expensive houses," but should focus on quality design, materials, construction, and services to address living issues [4][9]. - The standards aim to enhance housing quality across various regions, sizes, and price points, ensuring that different types of "good houses" are available [4][9]. Group 2: Market Dynamics - The increase in land supply for "good houses" is evident, with cities like Beijing and Hangzhou actively promoting the sale of land designated for quality housing projects [6][7]. - In May, Beijing's land auction saw a focus on encouraging refined design and higher quality residential projects, reflecting a broader trend of extending "good house" standards to suburban areas [6][7]. - The demand for improved housing is expected to stimulate the real estate market, with policies supporting the construction of "good houses" likely to be further refined [5][9]. Group 3: Corporate Initiatives - Several major real estate companies, including Longfor Group, China Overseas Property, and COFCO Joy City, have committed to developing "good houses" to meet diverse housing needs [7][8]. - COFCO Joy City is establishing a "Good House Laboratory" to innovate and test products that align with user demands, focusing on health and smart living solutions [8][9]. - The industry is moving towards a closed-loop logic of "research - standards - implementation," which is crucial for the successful rollout of "good houses" [9].

Core Viewpoint - The Ministry of Housing and Urban-Rural Development emphasizes the need for a comprehensive standard system to enhance the quality of housing, focusing on design, materials, construction, and accessibility, among other aspects [1] Group 1: Standards and Regulations - The newly implemented national standard "Residential Project Specification" aims to inherit and innovate existing standards, serving as a baseline requirement for quality housing [1] - The standard emphasizes that building "good houses" is not synonymous with building "large" or "expensive" houses, but rather focuses on addressing pain points in living conditions through quality design and materials [1] Group 2: Safety Requirements - Safety is the primary concern for homebuyers, with the standard addressing structural safety, fire safety, electrical safety, gas safety, fall prevention, and emergency safety [2] - The standard mandates that residential buildings must have a structural safety level of at least Class II, ensuring reliability during normal use and common disasters [2] - Anti-seismic design is required, with a minimum seismic fortification category, ensuring buildings can withstand varying earthquake intensities [2] Group 3: Fire and Gas Safety - The standard requires residential buildings to maintain structural stability during fires and to have adequate evacuation facilities [3] - Specific guidelines are set for gas safety, including prohibiting gas pipelines from crossing bedrooms and ensuring proper ventilation in gas-using areas [3] Group 4: Accessibility for Elderly and Children - The standard addresses the needs of the elderly by mandating the inclusion of activity areas and ensuring barrier-free access in residential communities [4] - It specifies that bathroom facilities must include grab bars to assist elderly individuals, reducing the risk of falls [5] - Child safety measures are included, such as restrictions on the spacing of vertical bars in balcony railings to prevent children from slipping through [5] Group 5: Implementation and Oversight - The Ministry plans to enhance the implementation of the standard through various measures, including supervision and inspection of design, construction, and acceptance processes [5] - Violations of mandatory standards will be subject to legal penalties, ensuring compliance with the new regulations [5]

多地加力"好房子"建设 今年"好房子"首次被写入政府工作报告。适应居民高品质居住需要，完善标准规范，推动建设安全、舒 适、绿色、智慧的"好房子"，成为住房改革的重要方向。 5月1日，住房和城乡建设部发布的"好房子"新国标——《住宅项目规范》正式落地实施，从规模与布局 等基本规定、居住环境、建筑空间、室内环境、建筑设备等多个方面，进一步明确了"好房子"建设的底 线要求。四川、贵州、山东等省份以及唐山、东营、威海等城市，也结合本地实际，陆续发布地方 性"好房子"标准。 近期各地陆续发布的今年住房发展年度计划，"好房子"建设也成为其中的重点部署方向之一。如重庆把 加大"好房子"建设写入住房发展年度计划的总体发展要求，北京在发展目标中提出要加快"好房子"建设 步伐，青岛将加大"好房子"建设单列为一项重点任务，南昌也在今年住房发展年度计划征求意见稿中也 将推动建设"好房子"设置为一项重点发展任务。另外，广州、成都、惠州等地，均在今年住房发展年度 计划中明确了建设"好房子"的要求。 21世纪经济报道记者李莎 北京报道层高3米到3.05米，可封闭阳台，外墙、门窗、楼板等隔音性能升 级，风雨连廊，首层架空层，相邻住宅用地和商 ...

五月刚刚过去了，楼市目前是一个什么样的状况，接下来还会是什么样的走向，今天简单聊一下。 根据市住建委的网签数据，5月北京二手房网签量为14277套，虽然相比去年5月的1.3万多套上涨了约6.7%，但环比上月（4月）的 1.5万余套，则是下降了约8.3%。 而从历年来北京楼市的自然规律来看，如果没有比如强政策等因素的刺激，从5月接下来的小半年时间里，楼市将进入一个成交并不 旺盛的平淡期。 01 先看5月的情况。 03 下面聊一下大家关心的接下来市场走向。 之前我们给大家介绍过北京二手房月成交量与市场情况的大体"晴雨表"。 二手房方面，数据刚才已经说了。下面分析一下这个数据反映了楼市究竟是个什么状况。 5月有对楼市不利的特殊情况，即小长假的因素，毕竟是有除国庆和春节之外，全年第三长的假期。长假期间的成交量很少，这肯定 会对月成交数据有影响。 但5月也有利好政策的市场推动作用，即公积金贷款和商贷的双双降息，公积金贷款利率下调了0.25个百分点，商贷下调了0.1个百分 点。降息对楼市的积极作用从二手房的成交就可以看出。5月下旬北京二手房的日交易量明显回升，日均交易量比之前20天增长了 50%以上。 所以，在不利因素和 ...

Core Viewpoint - The concept of "good housing" has gained significant attention in the public welfare sector this year, with government initiatives aimed at enhancing housing quality to meet the needs of the populace [1] Policy Implementation - The National Standard for Residential Projects was implemented on May 1, focusing on safety, comfort, sustainability, and intelligence in housing construction [2] - Various regions have introduced their own standards and guidelines to promote high-quality housing development, such as Shandong's construction standards and Guizhou's design guidelines for high-quality residences [2][3] - Zhengzhou has established a comprehensive quality supervision system for housing construction, implementing policies to streamline the process of obtaining property certificates alongside new home keys [2] Green and Smart Initiatives - Zhengzhou's future community model features enhanced energy efficiency, with insulation thickness achieving a 45% improvement over national standards [3] - The city has introduced a green building incentive policy, offering subsidies for projects that meet specific green standards [3] - Smart community initiatives in Zhengzhou have reached a 3.0 stage, integrating various systems for improved living conditions [3][4] Focus on Comfort and Experience - The "good housing" initiative emphasizes attention to detail, aiming to enhance residents' sense of well-being and satisfaction [5] - Guizhou has proposed systematic solutions to common housing issues, such as noise and leakage, by setting construction standards and enhancing community facilities [6] - Policies are being implemented to improve housing quality, ultimately transitioning residents from merely having a home to enjoying a good living environment [6]