Investment Rating - The investment rating for the real estate industry is "Positive" (maintained) [4] Core Views - The report emphasizes the importance of stabilizing real estate market expectations and highlights the sector's significant role in the national economy and as a source of household wealth [3][50] - The report suggests that the real estate market's healthy development is crucial for overall economic stability and calls for decisive policy measures rather than piecemeal approaches [50] Market Performance - The Shanghai Composite Index rose by 0.1%, while the Shenzhen Component Index fell by 0.6%, and the real estate sector (Shenwan) declined by 0.7% during the week [5][8] - Notable stock performances included Chengjian Development (+13.2%) and Sanzhong Impression (+10.7%), while Hualian Holdings (-15.5%) and Yatong Shares (-6.8%) saw significant declines [5][8] Data Tracking New Housing Transactions - In the week of December 27 to January 2, new housing transactions in 42 key cities totaled 2.56 million square meters, a 2.0% decrease from the previous week [16] - For December, new housing transactions reached 10.63 million square meters, a 35.7% increase month-on-month but a 40.5% decrease year-on-year [21] Second-Hand Housing Transactions - In the same week, second-hand housing transactions in 21 key cities totaled 1.64 million square meters, a 21.5% decrease from the previous week [34] - For December, second-hand housing transactions amounted to 9.22 million square meters, an 11.1% increase month-on-month but a 27.9% decrease year-on-year [37] Industry News - The Ministry of Housing and Urban-Rural Development aims for significant progress in housing quality improvement by 2030, focusing on standards, design, materials, and construction [50] - New tax policies were introduced, reducing the value-added tax rate for second-hand housing transactions to 3% for properties held for less than two years, while properties held for two years or more are exempt from VAT [50] - The China Securities Regulatory Commission announced the launch of a pilot program for commercial real estate investment trusts (REITs) to promote high-quality market development [50] Company Announcements - China Resources Land secured a sustainable development-linked loan of 2 billion yuan with a term of 36 months [54] - Huafa Group elected Guo Lingyong as the chairman of its board and Liu Yingzhe as vice chairman [54]

住房是民生之要，"好房子"承载着人民群众对美好生活的向往。在国家持续推动房地产行业平稳健康发展、倡导建设"好房子"的大背景下，2025年12月30 日，高新区白沙河畔，由山东华安集团开发的凤鸣朝阳项目，举行隆重的高品质园区开放暨集中交付仪式。凤鸣朝阳项目是华安集团积极响应住建部关于 建设"安全、舒适、绿色、智慧"高品质好房子的号召，继华安御尚苑省级高品质住宅试点项目后，在潍坊精心打造的又一个省、市两级的高品质住宅试点 项目。 作为潍坊市首个如约交付的在建省级高品质住宅试点项目，它不仅完成了一次产品的完美兑现，更向城市、行业与数百户家庭，递交了一份关于"什么是 好房子"的美好答案，一个属于潍坊的人居新典范由此诞生。 溯源经典："凤鸣朝阳"藏美好寓意 交付现场，喜庆与温馨的氛围扑面而来。潍坊市住房和城乡建设局、高新区住房和城乡建设局、高新区新城街道、潍坊市房地产业协会等相关单位负责同 志与业主代表共同见证这一重要时刻。各方对项目如期、高品质兑现给予高度评价，向业主送上美好祝福。一座融合自然诗意、艺术美学与人文情怀的现 代宜居范本，实景呈现在业主眼前。 "凤鸣朝阳"之名，源于《诗经大雅卷阿》："凤凰鸣矣，于彼高冈； ...

本报讯 嘉兴市"好房子"建设现场推进会日前召开，近40位政企相关代表汇聚一堂。会议总结交流我 市"好房子"建设前期实践经验，共商未来发展路径方法，为加快构建房地产发展新模式、不断满足人民 群众对高品质住房的向往，凝聚合力、明确方向，共同推动嘉兴实现从"住有所居"向"住有优居"的跨 越。 近年来，嘉兴始终将"好房子"建设作为增进民生福祉与促进城市发展的重要抓手，全力打造"嘉兴好房 子"特色品牌。2024年8月，市建设局和市自然资源和规划局联合印发《关于推进嘉兴"好房子"建设的通 知》，明确具有嘉兴特色的"好地块供应、好配套先行、好设计引领、好品质铸造、好服务赋能"的"五 好"标准。与此同时，我市推进智能建造国家试点和装配式装修省级试点，7条经验做法纳入住建部可复 制清单；全市共有10个项目入选浙江省高品质住宅项目试点。 （来源：嘉兴日报） 转自：嘉兴日报 ■记者 沈 婷 通讯员 李星翰 政策赋能之下，高品质住宅的市场竞争力持续凸显。近年来，一批注重产品力、秉承高品质建造理念的 楼盘，在复杂市场环境下交出了亮眼的"销售答卷"。例如，嘉兴经开区的湖境云庐上市310套房源已售 罄、至境园上市905套房源去化率达96% ...

北京进深 徐迪 近日，中建智地昌平歇甲新盘户型图流出。 由于报规的方案还没公示，加上北京现在整体赠送尺度收紧，或存较大变动，户型图仅供参考。 面积段：78㎡三居一卫，90㎡三居两卫，110/130㎡四居。 起步78㎡户型，当下最流行的小三居格局。 众所周知，这个面积段能不能真正做出三个卧室，关键在于赠送。 通州朝棠揽阅卖爆的那个68小三居，能做出来全倚赖南北双向大平台： 南边是通面宽1.8米进深的阳台，北边是通面宽1.1米进深的设备平台，这两大利器合计赠送了11㎡的面积，直接多出来一个卧室。 再看西边刚开盘的长安华曦府二期，因为没能做到双向通面宽赠送，做出相似户型，建面达到了78㎡。 网传版歇甲项目78㎡户型，南向面宽6.8米，进深12.8米，户型狭长且没有侧边开窗，通透性比较差。 华曦府二期同面积户型是边户，除了客厅的转角大窗，厨房和卫生间也都有窗。 歇甲项目也是明厨明卫，但卫生间只有马桶等宽的一扇窗，厨房的窗是朝北开在天井位置的。 北边有一个设备平台，面积全赠送，昌平新盘目前为止设备平台都不能封闭； 南向通面宽的阳台，可以封进室内，计一半建面，进深如果达不到1.5米，南边的主卧和客厅都会非常局促。 这个户 ...

时光淬炼经典，质心雕琢生活。华润置地深耕北京31载，凝萃对时代人居的深刻理解，将"高品质"贯穿 到精细产品设计、高标准产品建造与情感悉心服务的全周期。 12月，臻澐、北京潤圜、北京润府·雲萃、和樾望雲四盘实景呈现，京熙润府、璞瑅润府、中环悦府三 盘即将润心交付，让美好成为日常。 臻澐 万平自然艺术实景 产品力的打磨，是时间的历练，也是一场匠心的旅程。臻澐约万平自然艺术实景园林，以山河交映为灵 感，东门起笔西山轴线，南门溯源清河脉络，勾勒归家气象。南门精选源自印度的河流白奢石，历经多 道工序，遴选、排版、切割、预拼装、打磨成波，以其天然肌理纹路，迎合清河之水的流动之姿，让奢 华悄然生动。在山河交映的灵感下，营造山轴艺术前厅、四季花厅、山谷下沉庭院、观山台等景观空 间，并采用"柔石成缎"工艺、百年老桩名贵紫薇、文冠果等珍稀树种、宇宙黑奢石水盘等，让日常的每 一天，都能感受到生命沉淀的厚度与蓬勃的生机。 在"分级社交"理念下，从光影门庭、浮岛会客，到奢装归家大堂，空间三层递进，自然区隔社交距离， 让每一次归家，皆是一场从容而至的身心安顿。臻澐将这座城市对山水人文的深层渴望，转化为可感、 可触、可栖居的现实。建面约2 ...

抓绿色低碳链式发展。深入实施绿色建造全产业链发展"百项任务",在全国率先出台《零碳建筑实施技 术导则》等系列标准,成功入选山东省绿色低碳试点城市,规划布局蓬莱、福山等7个绿色建造产业园区, 招引落地富煌钢构（002743）等98个项目、总投资308亿元,建成投用全省规模最大的20万平方米"近零 能耗"建筑群——万华人才中心。全市累计新增绿色建筑面积5100万平方米,装配式建筑面积占比超50%, 走在全省前列。 抓"好房子"优建优供。加大"好房子"供给,按照"定标准、出规范、推项目、优结构"的整体思路,在省内 率先制定包含350余项细分标准的高品质住宅建设指引,3年谋划80个1032万平方米项目,已启动52个805万 平方米项目建设,综合去化率达到65%以上,15个项目入选省级高品质住宅试点,数量位居全省前列。持续 强化政策支撑,分批次出台114条促发展政策措施,包括发放9000万元购房"消费券"等促消费政策29条、住 房公积金惠民新政30条、支持高品质住宅开发建设政策55条,累计降低企业开发成本700元/平方米以上, 提高综合得房率到100%以上。近期将出台支持住房"以旧换新"系列政策措施,进一步降低群众购房 ...

齐鲁晚报·齐鲁壹点 李楠楠 12月5日，烟台市政府新闻办举行"回望'十四五' 奋楫启新程"主题系列第十一场新闻发布会，烟台市住 房和城乡建设局党组书记、局长孙玉荣介绍了"十四五"时期，烟台市住房发展和烟台市建筑业发展的相 关情况。 截至今年10月底，全市累计缴存住房公积金1560亿元 5年来，全市住建系统始终把群众安居宜居摆在突出位置，因时因势优化住房政策，加快完善多主体供 给、多渠道保障、租购并举的住房供应体系，城镇人均住房面积从39平方米提高至43平方米，加快 从"住有所居"向"住有宜居"转变。 抓住房保障提标扩面。筹集、配租公共租赁住房8560套，发放2.1亿元、5.6万户（次）租赁补贴，城镇 低保、低收入住房困难家庭实现应保尽保。筹集配租配售型保障房7600余套、人才公寓1.3万套，有效 满足新市民、新青年以及各类人才等过渡性住房需求，持续完善"一张床""一间房""一套房"的梯次住房 供给模式。 5年来，全市住建系统深刻把握新形势新要求，大力推动传统建筑产业向工业化、数字化、绿色化转型 升级，培育发展现代化建筑产业，建筑业总产值连续4年保持7%以上增速，2024年首次突破千亿元，累 计完成产值超450 ...

Core Insights - China State Construction's first luxury residential product line "Yuanjing" officially launched with the opening of "China State Construction Yipin · Haichen Yuanjing," achieving sales of 183 units and over 1.8 billion yuan on the first day [1][5] Group 1: Project Overview - The project is located in the Haidian District, benefiting from proximity to significant cultural and industrial areas, including three major trillion-yuan industrial hubs [1] - The development features a low plot ratio of 2.1, consisting of 7-11 story pure villa-style apartments [1] - Unit sizes range from approximately 99 to 181 square meters, with three to four-bedroom configurations [1] Group 2: Product Features - The project incorporates high-end amenities such as the Panasonic Six Constant Climate System and Huawei's whole-home smart technology [1] - The 99 square meter unit is particularly favored for its approximately 270-degree panoramic view [1] - Additional facilities include a 2,600 square meter themed clubhouse and a 25-meter infinity swimming pool, meeting five-star hotel standards [1] Group 3: Pricing and Market Response - Pricing varies by unit type, with a minimum price of approximately 81,000 yuan per square meter and a maximum of around 87,000 yuan per square meter [3] - The strong sales performance on opening day indicates initial market recognition of the product's quality and reflects the current demand for high-quality residential properties in Beijing [5]

"低容积率、小地块依然是主流。房企纷纷创新投资模式，聚焦好城市、好地块、好房子，通过代建、 合作等方式，实现区域深耕目的。"中指研究院华中分析师李国政向《证券日报》记者表示，品牌房企 加大与区域平台公司合作代建模式，通过打造"好房子"稳扎稳打。 除此之外，华东地区也是头部房企的重要补仓区域。绿城中国控股有限公司于近期以17.98亿元竞得余 杭区未来科技城单元地块，成交楼面价35000元/平方米。据悉，这也是未来科技城核心区时隔五年推出 的首宗纯低密宅地。 "未来科技城地块的出让有助于提升板块高端居住环境，预计后续房企将继续聚焦核心区位或有明确规 划利好的地块，产品创新与精准定位将是竞争关键。"中指研究院华东大区常务副总高院生向《证券日 报》记者表示。 临近年末，多个重点城市相继推出优质宅地，房企集中补仓"备货"，为明年推出"好房子"蓄力。 "从年末土地竞拍情况来看，房企更多关注核心区位和低容积率地块，上述地块不仅利润可观，也便于 打造高品质住宅，提升未来销售表现和区域居住环境。"上海易居房地产研究院副院长严跃进对《证券 日报》记者表示。 从地块条件来看，年末供应的地块普遍区位优价格低，叠加低容积率，吸引了不少 ...

Core Viewpoint - The real estate sector in China is experiencing a surge, with multiple stocks hitting the daily limit up, driven by positive market sentiment and expectations of policy support for high-quality housing development [1][2][4]. Market Performance - The real estate sector saw significant gains, with stocks like I Love My Home and Caixin Development hitting the limit up within two minutes, leading to a broad rally in the sector [1][2]. - By midday, the Shenwan Real Estate Index rose by 1.59%, with several stocks, including Fuxing Co. and Shimao Group, also experiencing substantial increases [2][3]. - In the Hong Kong market, major real estate stocks like Sunac China and Country Garden saw gains exceeding 12% and 9%, respectively [2][3]. Policy and Industry Outlook - There is an increasing expectation for policy relaxation, with the Central Committee emphasizing the need for high-quality housing development and improved housing supply systems [4][5]. - The current market dynamics indicate a shift towards second-hand housing, with second-hand transactions accounting for 44.8% of total transactions from January to October [1][5]. - The National Bureau of Statistics reported a reduction in the sales area and sales volume of new residential properties, indicating a transition to a market dominated by second-hand housing [5]. Investment Implications - Analysts suggest that stable housing prices are crucial for facilitating economic circulation, and there is potential for further policy support in the real estate sector [5]. - The focus is shifting towards high-quality residential projects, with expectations of a development wave in this segment due to changing policy directions and market demands [4][5].