智通财经APP获悉，中指研究院发布的7月住宅产品月报显示，从成交套数占比变化上看，与2024年同期相比， 2025年1-7月，30个代表城市中，24个城市120平方米以上成交套数占比提升，改善性需求仍是新房市场重要支 撑。分面积段来看，20个城市120-144平方米产品成交套数占比提升，其中上海、南京、长沙、南昌等城市提升 幅度均超4个百分点；20个城市144平方米以上成交套数占比提升，其中合肥、宁波、厦门、无锡等城市提升幅 度较为明显。 数据来源：中指数据CREIS 上海新房成交结构特征 从成交面积结构看，2025年1-7月上海90平以下刚需型产品成交2710套，成交套数占比为9.6%，较2024年同期下 降2.2个百分点。90-200平产品成交约2.4万套，成交套数占比85.0%，较2024年同期提升3.4个百分点。200平以上 产品成交1544套，成交套数占比5.4%，较2024年同期下降1.1个百分点。 从成交总价结构看，500万以下产品成交套数占比29.1%，较2024年同期下降5.1个百分点。500-1000万总价段产 品成交套数占比提升至42.0%。1000万以上产品成交套数占比28.9%，较2 ...

为什么现在很多人，宁愿买大平层也不买别墅？原因太现实了！ 不知道大家有没有发现，现在很多人在买房的时候，宁愿选择大平层，也不再选择别墅了， 甚至有很多人都从别墅搬回到了大平层当中，这是什么原因呢？难道别墅不香了吗？ 在了解背后的原因之后，才发现真的太现实了。 1 别墅和大平层的装修差距 有不少朋友现在在买房的时候之所以选择大平层而不选择别墅， 就是因为别墅和大平层的装修差距实在是太大了，有很多人说自己能够买得起别墅，但却装修不起别 墅。 2 别墅的居住成本太高 如果从买房这方面来讲的话，地理位置好，面积又比较大的大平层其实和别墅的总房价差不了太多， 光是买房的话，不管是选择别墅和大平层，可能并没有什么太大的差距。 不过买房之后的装修差距却很大的，一些买了别墅的朋友说在看到装修预算表的时候就后悔了， 砸了100多万来装修，连立体的吊顶都做不出来， 而在同样的装修预算下，要是大平层的话，不仅能够装修的特别精致， 还可以选择全屋智能，就连使用的材料都会更加的高端一些，住着也会更加的舒服。 即使大家能够买得起别墅，也能够装修得起别墅，在入住之后就会发现别墅的居住成本同样也很高， 对于不少朋友来讲，其实入住别墅同样也是 ...

时隔8年，上海在一线城市之中率先对"商改住"禁令作出调整，出台《关于推进商务楼宇更新提升的实施意见》，鼓励楼宇因地制宜拓展租赁住房等功 能。 虽说是非常克制的一小步，政策导向已经相当明显，正如新华财经评价，此举意味着暂停8年之久的"商改住"在上海迎来了破冰时刻。 这一转变，直面当前商业楼宇市场高空置率的现实压力。数据显示，北上广深四大一线城市中，甲级写字楼空置率均逼近或超过20%的警戒线，市场承压 明显，同时，大城市的通勤难题也日益凸显。随着一线大批商业楼宇土地使用期限将至，改变迫在眉睫。 上海新政能否看作放开"商改住"？它能否有效激活存量资产、缓解职住分离，并为超大城市治理提供新思路？值得持续关注与期待。 2017年开始，各地重拳出击发布"商改住"禁令。 当时正值楼市高速扩张期。住房限购政策出台后，不少刚需消费者和投资客转向商业用房——因其不限购、单价低、地段优越，吸引大量个人资金涌入， 导致市场秩序混乱、价格快速上涨。 "商改住"迎来破冰时刻？ 近期，上海出台了《关于推进商务楼宇更新提升的实施意见》，鼓励商务楼宇因地制宜地进行功能拓展，包括租赁住房、养老托育、文化体育以及科技创 新等领域。 此政策一出，网 ...

Core Viewpoint - The article discusses the financial implications of renting versus buying a home, highlighting a personal anecdote where a family transitioned from renting to owning a home, resulting in a slight increase in monthly expenses but a significant improvement in living conditions [1][3]. Summary by Sections Renting vs. Buying - A family previously paid approximately 1100 yuan per month for rent and utilities, and after purchasing a home with a 40,000 yuan down payment, their total monthly expenses increased to around 1300 yuan, allowing them to move from a two-bedroom to a three-bedroom home [1][3]. Market Analysis in Hefei - In Hefei, renting a three-bedroom apartment costs about 2000 yuan per month. With a mortgage rate of 3.0%, a loan of 480,000 yuan results in a monthly payment of approximately 2024 yuan, corresponding to a total property price of about 564,700 yuan, requiring a down payment of around 84,700 yuan [5][9]. Housing Market Concerns - The article raises concerns about potential declines in housing prices and the types of properties available within budget constraints. It notes that while owning a home provides a sense of security, the risk of depreciation remains a factor to consider [7][9]. Property Options - The analysis indicates that for a budget of 564,700 yuan, the available properties are primarily older homes or those in less desirable areas, which may not offer the same living quality as higher-rent options [8][9]. Rent vs. Buy Considerations - The decision to rent or buy should consider the rental yield and housing price trends. A higher rent-to-price ratio makes buying more attractive, while stable or slightly declining prices can also favor purchasing [15].

Group 1 - The core viewpoint of the article highlights the shift in homebuyers' priorities, with comfort in living conditions becoming the primary focus, leading to regrets among those who purchased middle corridor units [1] Group 2 - Middle corridor units are generally priced lower than corner units, offering better cost-performance ratios, allowing buyers to save money for renovations or furniture [4] - The layout of middle corridor units tends to be more rectangular, maximizing space utilization and facilitating easier decoration [6] - Middle corridor units are quieter due to being surrounded by other units, providing a more peaceful living environment [8] Group 3 - Regrets about moving into middle corridor units stem from safety concerns, particularly the risks associated with high corridors and inadequate protective barriers [10] - North-facing windows in middle corridor units often result in poor lighting due to obstruction from the corridor structure, affecting both light and ventilation [14] - Privacy issues arise as neighbors can easily see into kitchens and bathrooms, leading to discomfort for residents [18] - Common areas like corridors can become cluttered with personal items, creating safety hazards and reducing accessibility [24]

前不久，有幸预约到"浦西第一高楼"（320米）的The Stage白玉兰观景台，通过360°全景视野俯瞰浦江风光，将外滩万国建筑群、陆家嘴"三件套"和东方 明珠尽收眼底，如此震撼的凌空视觉冲击，也许就是富豪们如此钟爱超高层住宅的原因吧，拥有独特的天际景观，成为彰显身份地位的重要标志。 图：上海天际线，拍摄于The Stage白玉兰观景台 唯有地段与视野不可辜负 区位分布：黄浦占据半壁江山 上海对于天际线的规划是十分讲究的，2021年以来，超高层住宅（指100米以上，下同）的供应屈指可数，一半位于黄浦，此外还有黄浦江沿岸的虹口北 外滩和浦东前滩，以及苏州河北岸的静安西藏北路片区。可见，能规划超高层的地段，要么是传统"上只角"，要么是"一江一河"沿线的景观地带。 从2024年以后入市的房源面积段来看，超高层产品并没有一味地做出超大户型，300㎡以上户型占比仅为26.8%，150㎡-300㎡的户型占比接近2/3，这或许 与我们的传统认知有所差异。 表：2021年以来超高层项目供应套数面积段分布 表：2021年以来超高层项目供应套数板块分布 （截至2025/8/15） | 时间 | Earlies | | | | | ...

| 城市 | | 环比 | 同比 | | 1-7月平均 一年同期 | | 城市 | 环比 | 同比 | 1-7月平均 上年同期 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | 上月=100 | 上年同月 | | | | | 上月=100 | 上年同月 | | | | | | =100 | | =100 | | | | =100 | =100 | | 北 | 京 | 100.0 | | de 4 | 95.1 | 唐 | ш | 99.6 | 93.5 | 92.7 | | ਜ | 津 | 99.7 | | 98.1 | 97.9 | | 秦皇岛 | 99.5 | 94.4 | 93.4 | | 石 家 庄 | | 99.6 | | 96.9 | 96.5 | 包 | ਜੇੱ | 99.4 | 94.4 | 93.8 | | | | 99.8 | | 101.0 | 101.1 | | | 99.8 | 95.5 | 94.5 | | 太 | 原 | | | | | ले | 东 | | | | | 呼和浩特 ...

Core Viewpoint - The luxury housing market in key cities is experiencing significant growth, with a notable increase in transactions for properties priced over 10 million yuan, indicating a strong demand and market resilience [4][5]. Group 1: Market Overview - In the first half of 2025, 20 key cities in China saw a total of 21,400 luxury homes (priced over 10 million yuan) sold, representing a year-on-year increase of 21% [4]. - The overall new home sales in 100 cities only saw a slight increase of 5%, highlighting the luxury segment's strong performance [4]. - The top five cities (Shanghai, Beijing, Shenzhen, Hangzhou, and Guangzhou) accounted for 80% of the luxury market, with Shanghai leading in both absolute sales volume and market share [4]. Group 2: Sales by Price Segment - In Shanghai, 6,182 luxury homes priced between 10 million and 30 million yuan were sold, making up nearly 30% of the total in the 20 key cities [4]. - For properties priced above 30 million yuan, Shanghai's sales reached 1,096 units, representing over 60% of the total, with the ultra-luxury segment (over 50 million yuan) dominating at 482 units sold, accounting for 78% of that market [4]. Group 3: Product Characteristics - The luxury homes sold in the first half of 2025 showed a preference for larger sizes, with properties over 180 square meters making up 46.14% of sales [5]. - The mid-sized luxury segment (100-140 square meters) also saw significant growth, with 100-120 square meter homes increasing by 3.68% year-on-year and 120-140 square meter homes increasing by 6.28% [5]. - New housing regulations aimed at enhancing living quality and space efficiency have positively impacted the market, driving upgrades in residential products [5].

Summary of Key Points from J.P. Morgan's Expert Meeting on Hong Kong Property Sector Industry Overview - **Industry**: Hong Kong Property Sector - **Expert**: Mr. Joseph Tsang, Chairman of Jones Lang LaSalle (JLL) Hong Kong Core Insights Residential Property - JLL forecasts a **5% decline** in home prices for mass units and **5-10% decline** for luxury units in 2025, primarily due to oversupply and financial pressures on developers [1][4] - JLL expects home prices to stabilize in 2026 (up or down **1-2%**) if HIBOR remains low and geopolitical shocks are absent [1][4][8] - J.P. Morgan's more optimistic forecast anticipates a **3-5% rebound** in home prices in 2026 if certain conditions are met [1][4] - Rental growth is expected to be **0-5%** in 2025 due to an influx of new talent and students [1][4] Office Market - JLL predicts **5% decline** in Grade-A office rents and **5-10% decline** in capital values in 2025, with high vacancy rates (13.2%) persisting [1][4][13] - Rising IPO activity may stimulate demand, but insufficient to reverse current trends [1][4][13] - Tenants prefer newer office buildings with ESG specifications, leading to pressure on older assets [1][4][13] Retail Sector - Retail rents and capital values are expected to drop **5-10%** in 2025, but substantial corrections have already occurred (high-street shops are **72% below peak**) [1][4][18] - JLL anticipates a stabilization of retail rents in 2026, supported by active leasing momentum [1][4][18] - Retail assets yielding **~6%** are attracting strong buyer interest, indicating a potential floor for valuations [1][4][5] Additional Considerations - **CRE Risks**: Overall debt associated with commercial real estate (CRE) risks may exceed **HK$400 billion**, with 34% classified as high risk [1][5][16] - **Mainland Chinese Buyers**: They account for **~50%** of homebuyers in urban districts, significantly influencing market dynamics [1][10] - **Government Response**: While the government is aware of the CRE situation, no comprehensive strategy has been implemented yet [1][16] Investment Recommendations - Top picks in the sector include: - **Swire Properties**: Improving China retail and potential buyback - **Link REIT**: Improving HK retail and Stock Connect - **Wharf REIC**: Stabilizing HK discretionary retail - **Henderson Land**: Stabilizing HK residential market with high yield [1][5] This summary encapsulates the key insights and forecasts regarding the Hong Kong property sector as discussed in the expert meeting, highlighting potential investment opportunities and risks.

Core Points - The "Jiangsu Province Improved Residential Evaluation System" has been launched, with 36 projects completing pre-evaluation and publicly announcing results [1] - Project construction units are responsible for the authenticity of evaluation data and results, and voluntarily accept government and social supervision [1] Summary by Categories Evaluation System - The evaluation system aims to promote the construction of safe, comfortable, green, and smart homes [1] - Several measures have been released to support the improvement of residential quality, including the "Several Measures to Support the Improvement of Housing Quality" and "Jiangsu Province Improved Residential Evaluation Guidelines" [1] Evaluation Criteria - The evaluation is conducted after passing completion and various special inspections, with results categorized into three levels: - A-level for scores between 60-69 - AA-level for scores between 70-79 - AAA-level for scores of 80 and above [1] Notable Projects - Several projects achieved AAA-level pre-evaluation, including: - Nanjing Zhaoshang Jinling Xuhua Garden - Lianyungang Cangwu Yuyuan - Yangzhou Longqing Garden - Xuzhou Jinyu Lanting - Lianyungang Xiangjiang No. 7 Courtyard - Danyang Fenglin Garden [1]