导 读 企业投资脚步大幅放缓。CRIC重点监测的30家典型企业8月拿地金额环比"腰斩"，创近一年 新低，其中有18家企业本月无新增土地入账。 ☉ 文／克而瑞研究中心 | | 2025年1-8月 · 中国房地产企业 | | | --- | --- | --- | | | 新增货值TOP100 | | | 排名 | 企业名称 | 新增土地货值 | | | | (亿元) | | 1 | 中海地产 | 1337.0 | | 2 | 绿城中国 | 1144.0 | | 3 | 保利发展 | 1015. 0 | | ব | 花海量斯 | 906. 9 | | 5 | 招商蛇口 | 848. 1 | | 6 | 中国金茂 | 793.5 | | 7 | 建发房产 | 714.6 | | 8 | ·滨江集团 | 580. 1 | | 9 | 越秀地产 | 522.0 | | 10 | 中建智地 | 257. 1 | | 11 | 保利置业 | 254. 6 | | 12 | 象屿地产 | 239.9 | | 13 | 联发集团 | 221. 4 | | 14 | 国贸地产 | . 184. 6 | | 15 | 却未佳闭 | ...

Core Viewpoint - The land market is showing signs of activity despite the new housing sales not fully stabilizing, with a notable increase in high-premium land transactions in key cities like Shanghai, Hangzhou, and Suzhou [3][4]. Group 1: Land Market Trends - In the first seven months of 2025, the proportion of premium land transactions in 30 key cities reached 30%, the highest in three years, indicating a resurgence in land acquisition sentiment [7]. - The total area of residential land sold in these 30 cities was 55.2 million square meters, a year-on-year increase of 17%, contrasting with a 9% decline in the overall 300 cities [6]. - The average premium rate for land in these cities increased to 26%, nearly doubling compared to the past two years [7]. Group 2: Corporate Investment Behavior - The performance of real estate companies remains fragmented, with many unable to acquire new land reserves, while top-tier companies are driving positive growth in investment amounts [12]. - In the first seven months of 2025, the top 100 real estate companies recorded a total new land reserve value of 682.8 billion yuan, a year-on-year increase of 33% [12]. - The concentration of land acquisition among the top 10 real estate companies remains high, with their new land value accounting for 70% of the total for the top 100 [15]. Group 3: High-Premium Land Acquisition - Companies actively acquiring high-premium land include state-owned enterprises and well-established regional firms, with a significant portion of premium land transactions occurring in the 30 key cities [20]. - The companies with the highest proportion of premium land acquisitions include Binhai, Greentown, and China Resources, with rates of 100%, 84%, and 73% respectively [20][22]. - The competition for high-quality land in first and second-tier cities is intensifying, with state-owned enterprises dominating the landscape due to the high total prices, which deter some private and local state-owned enterprises [24].