本文来自微信公众号"空间秘探"，作者：ABNData，36氪经授权发布。 1月亚洲（中国）长租公寓市场综述 01 全球公寓市场发展动态 1月，进入2026年新年，根据亚洲旅宿大数据研究院监测数据显示，房租类指数年增长率涨幅持续趋缓，1月年增 率1.99%，跌破2%，反映过去一段时间全球租金上涨过后，基数已高下，涨势有趋缓迹象，但全球租金价格总体 仍呈现高位态势。 美国方面，2026年新年开始才一个月，洛杉矶及全美的房租已降至四年来的最低点。据租房匹配平台"公寓列 表"（Apartment List）数据，今年1月全美中位数房租（1,353美元）连续第6个月出现下降，这也是连续第4个冬季 出现明显的淡季租金下跌。冬季租房者通常减少，租金疲软符合市场的季节性规律。不过，0.2%的月跌幅是去年 8月以来最小的。报告认为，这表明市场正逐渐走出淡季，租金有望在未来几个月恢复增长。数据显示，全美54个 人口逾百万的大都市区，有39个于本月出现房租环比下降，32个同比下降——后者主要集中在南部和西部山区， 而东北部、中西部和西海岸部分地区的租房市场仍在升温。 房租年度增幅最大的都市区是弗吉尼亚州的弗吉尼亚海滩市（5.0%） ...

京杭大运河旁，一个曾经的热门红盘被收储用作保障性住房，再次出租依然受捧。 近日，杭州市本级首个"收存转保"（即国企收购存量商品房用作保障性住房）项目宁巢公寓河语光年府店开业，开业当天签约率突破80%。 河语光年府是万科在杭州的首个"光年"系项目，2021年首次开盘入市时，吸引到6000组客户登记认购。今年5月，小区两幢自持房源与杭州安居集团完成 不动产权转移登记，成为杭州市首轮收储中唯一被收购的项目，此后逐步被改造为白领公寓。 宁巢公寓河语光年府店运营工作人员徐先生向《每日经济新闻》记者（以下简称每经记者）介绍，项目开业后出租非常快，不需要中介费，基本可以拎包 入住。 曾有人10分钟就定下一套房 河语光年府位于杭州市拱墅区运河新城板块，两幢公寓楼总建筑面积约4152平方米，共17层75套房源，两梯五户，单套户型面积50～60平方米，租金从 2800元/月到3350元/月不等，物业费300元/月。采用民用水电，洗衣机、冰箱、中央空调、鞋柜、衣柜等一应俱全。 徐先生告诉每经记者，公寓是首次开放出租，家具设施都经过了甲醛检测。项目开业两天，一居室房源就全部签约租出，只剩下少量两居室房源，3315 元/月左右，包含物 ...

Policy News - The Central and State Offices proposed to increase the supply of affordable housing and support social forces in operating long-term rental housing [1] - The State Council emphasized the importance of constructing a new model for real estate development to stabilize and promote the market [1] Market News - In May, Beijing's Consumer Price Index (CPI) decreased by 0.2% month-on-month, with food prices down by 0.3% and non-food prices down by 0.2% [4] - There has been a significant push in various cities to acquire existing housing stock to convert into affordable rental housing, with approximately 90 cities announcing such initiatives since 2024 [5] Real Estate Company News - China Resources Land acquired three land parcels in Beijing, Nanjing, and Chongqing in May, with a total floor area of approximately 176,489 square meters and a total equity consideration of about 5.94 billion yuan [6] - Vanke sold all of its 72.96 million A-share treasury stocks, raising a total of 479 million yuan, which will help optimize its asset structure and replenish liquidity [7] - New City Development successfully issued $300 million in offshore bonds, marking the first issuance of private real estate offshore bonds in nearly three years, with a coupon rate of 11.88% [9] Sales Performance - China Merchants Shekou achieved a cumulative contracted sales amount of 67.146 billion yuan and a contracted sales area of 2.6553 million square meters from January to May [10] - China Jinmao reported a cumulative contracted sales amount of 37.747 billion yuan and a contracted sales area of 1.7462 million square meters during the same period [11] - Longfor Group's total contract sales amounted to 28.55 billion yuan with a sales area of 2.095 million square meters from January to May [12] - China Overseas Land & Investment reported a cumulative sales amount of approximately 10.42 billion yuan and a sales area of about 623,800 square meters [13] - CIFI Holdings recorded a total contract sales amount of approximately 8.85 billion yuan and a sales area of 879,700 square meters [14]

Core Viewpoint - Shanghai's Minhang Public Rental Housing Investment Company has initiated a public acquisition process for stock residential properties to be converted into affordable rental housing, marking a significant step in the "stock-to-rental" policy aimed at increasing housing supply [2][5] Group 1: Acquisition Announcement - The public acquisition is open from June 10 to June 16, targeting legal and compliant new residential projects in the southern Minhang District, with a minimum total construction area of 7,500 square meters [3] - The acquisition price will be based on the assessed value of the properties, and interested parties must submit various documentation including business licenses and property rights certificates [3] Group 2: Market Context and Implications - The "stock-to-rental" initiative is gaining traction across multiple cities, with approximately 90 cities having issued similar announcements since the beginning of 2024, indicating a nationwide response to the policy [6] - The initiative is seen as a strategic move to alleviate pressure in suburban and outer suburban markets, where there is a temporary oversupply of new properties [5] Group 3: Funding Sources - Funding for the acquisition is expected to come from various sources, including housing rental group loans, affordable housing refinancing loans, and special bonds [6][7] - In May 2024, Zhejiang and Sichuan provinces issued special bonds totaling 1.92 billion yuan for the acquisition of stock residential properties, highlighting the financial mechanisms supporting this initiative [7] Group 4: Future Outlook - Analysts believe that the "stock-to-rental" model, which utilizes market-based acquisition methods, will enhance the efficiency of existing housing resources and is likely to see larger-scale implementation in the second half of the year [8]

Core Insights - The acquisition of existing residential properties is accelerating, with multiple regions issuing announcements regarding the purchase of commodity housing for the purpose of converting them into affordable rental housing [1][2] - The "stock-to-safety" model is being implemented as a market-driven approach to revitalize idle housing resources, optimizing supply structure, and demonstrating policy sustainability and financial feasibility [2][4] Group 1: Acquisition Framework - Various local governments have established a unified framework for the acquisition process, with state-owned platforms acting as the purchasing entities, using construction costs plus reasonable profits as pricing benchmarks [1][2] - Specific requirements for housing types include a focus on small-sized units, with examples such as Dali requiring units not to exceed 70 square meters [1] Group 2: Implementation and Progress - As of 2024, approximately 90 cities have announced the acquisition of existing commodity housing for affordable housing purposes [2] - Cities like Hangzhou and Hefei have successfully completed property transfers, marking significant progress in the "stock-to-safety" initiative [2] Group 3: Funding Sources - The primary funding sources for the acquisition of existing commodity housing include housing rental group loans, affordable housing refinancing loans, and special bonds [3] - Special bonds issued for this purpose have interest rates ranging from 1.3% to 2.13%, with terms of 10, 20, or 30 years, making them a low-cost and long-term financing option [3] Group 4: Future Outlook - With the acceleration of the acquisition process and diversified funding support, the "stock-to-safety" initiative is expected to see larger-scale implementation in the second half of the year [4]