Core Insights - The Meilun Property Price Index has risen for five consecutive weeks, currently at 130.96 points, reflecting a weekly increase of 0.28% and a year-to-date increase of 2.21%, reaching a new high since August of the previous year [1] - The recent increase in the property price index is influenced by the resumption of interest rate cuts in mid-September and the effects of Hong Kong's Policy Address [1] - The impact of the new round of tariff wars, which began last Friday, on the property market remains to be observed, but analysts believe the effects will be temporary due to both China and the U.S. leaving room for easing tensions [1] Property Market Analysis - The Meilun Confidence Index, which reflects the selling attitude of property owners, has risen to 76.7 points, increasing by 1.5% week-on-week and remaining above 75 points for ten consecutive weeks, indicating a stable market [1] - The Confidence Index has been above the average value for 45 weeks, suggesting that property prices are likely to continue rising, with an expected increase of approximately 2% this quarter [1]

你敢信，一套主城老破小二手房刚挂出，超10组买家赶往小区跟业主谈价？ 9月中旬的一天晚上7点，链家经纪人黄先生拍下了这样一张照片：一套位于万象城板块的2楼套一出售，总价50万。"房东约好当天18：30可以看房，当我 带着业主赶往时，楼下已经挤满了购房者。" 排队看房子现场 低总价、近地铁的老破小要靠"抢" 总价50万，旁边就是万象城，距离地铁500余米，加上该小区已经进行了整体的外部翻新，户型也很方正，在这套房子的介绍里有这样一句话"装修好租金 2000左右，回报率4.8%。" 1、低总价自住 越来越多年轻人盯上老破小。 长天路8、10号院实拍图 越来越多人盯上老破小，看中的正是低总价撬动核心区域一套房的价值。一位专卖老破小的经纪人诉发哥，低总价的二手房在当前十分抢手，"楼层好的 小户型，几乎出来一套卖一套。" 张女士就是一位老破小买家，去年，她以60万的的总价买下了抚琴一套老破小，目前正在装修改造。她盯上老破小的的原因在于：这些年，经过价格回 调，老破小的房价已经处于低位——"单价1万左右买成都一环，这个价格已经非常稳了。" 几年前的老破小却不是这样的价格，张女士曾在双庆路买了一套老破小，房价95万元，装修 ...

行业点评 本周 A 股地产下跌、港股地产、港股物业均上涨。本周（10.4-10.10）申万 A 股房地产板块涨跌幅为-0.8%，在 各板块中位列第 23；恒生港股房地产板块涨跌幅为+1.3%，在各板块中位列第 4。本周恒生物业服务及管理指数涨跌 幅为+0.7%，恒生中国企业指数涨跌幅为-3.1%，沪深 300 指数涨跌幅为-0.5%；物业指数对恒生中国企业指数和沪深 300 的相对收益分别为+3.8%和+1.2%。 土地市场溢价率处于低位。本周（10.4-10.10）全国 300 城宅地成交建面 333 万㎡，单周环比-56%，单周同比- 82%，平均溢价率 4%。2025 年初至今，全国 300 城累计宅地成交建面 30756 万㎡，累计同比-9.9%；年初至今，中海 地产、绿城中国、保利发展、建发房产、滨江集团的权益拿地金额位居行业前五。 本周(10.4-10.10)47 个城市商品房销售 151 万方，成交量环比-57%，同比-33%，整体处于季节性低位；8 月新房 售价环比-0.3%，环比跌幅持平，同比-3.0%，同比降幅持续收窄；结合量价，景气度下行趋缓。本周分能级来看：一 线城市周环比-72%，周 ...

近期，社交平台一则"东北房价153块/平方米"的视频引起广泛关注，转发量迅速超过10万次。 该视频博主在黑龙江省鸡西市恒山区看房了解到，一套65平方米的二手房挂牌总价1.2万元，还可以接受2000元让价。 视频发出后，有网友称自己老家是鸡西的，没见过总价1万多元的房子，鸡西房价每平方米还是四五千元。 东北小城的房价果真如视频所展示的一样吗？ 10月11日，鸡西市当地一位房产中介通过电话向《每日经济新闻》记者介绍，只是少数现象，主要受小区地段和个别房东资金需求的影响。 每平方米几百块 从社交平台的视频内容来看，上述房源在一处步梯小区顶楼，总高6层，小区内部环境较为整洁，设有可供休闲运动的小广场，也配备有健身器材，旁边 有医院。 每平方米单价几百元的房子。图片来源：安居客 鸡西市位于黑龙江省东南侧，公开资料显示，其与鹤岗、双鸭山等同属于东北地区欠发达城市。 鸡西市因市区地处鸡冠山西麓而得名，截至2023年末，全市户籍人口160.96万人。鸡西市地形以山地、丘陵、平原为主体，是国家重要的能源基地，有百 年煤炭开采历史，也被称为"煤城""石墨之都"。 每经记者查询安居客、房天下、58同城等平台了解到，鸡西市恒山区的确 ...

Core Viewpoint - Beike (BEKE.US) saw a pre-market increase of over 1%, reaching $18.55, amid positive sales data from the top 100 real estate companies in China for the first nine months of 2025, indicating a narrowing decline in sales compared to previous months [1] Industry Summary - According to data from the China Index Academy, the total sales of the top 100 real estate companies amounted to 26,065.9 billion yuan, reflecting a year-on-year decrease of 12.2%, which is a 1.1 percentage point improvement from the decline observed in the first eight months of 2025 [1] - In September alone, the sales of the top 100 real estate companies experienced a month-on-month growth of 11.9%, with 72 out of the 100 companies reporting month-on-month performance increases, and 45 of these companies achieving growth rates exceeding 30% [1] - Guosheng Securities reported that the month-on-month sales increase in September was primarily driven by seasonal factors, the relaxation of purchase restrictions in core cities, and the introduction of new products by real estate companies [1] - The firm maintains an "overweight" rating for the industry, suggesting that 2025 will continue to be dominated by policy-driven factors, with a positive outlook for Beike in the intermediary sector [1]

记者来到位于北京五环外的几个新房楼盘时看到，每个楼盘都有不少市民在看房和洽谈，户型从70多平方米的两居到160多平方米的四 居，种类和户型丰富。销售人员介绍，今年这个假期，为了满足大家的看房需求，他们特意延长了下班的时间。 在北京8月出台的楼市新政推动下，9月1日—29日，新房网签0.32万套，同比增长12.6%，环比增长21.6%。受此影响，随后的这个假期， 多数在售楼盘的到访量和成交量都有所上升。 不只是北京，在上海、广州、深圳等城市，多家头部房企都选择在国庆中秋长假期间，通过特价房、购房补贴等"组合拳"来刺激销售。据 不完全统计，9月下旬以来，已有包括重庆、合肥、武汉、广州、长春、邵阳、东莞等多地发布楼市相关新政，涵盖公积金政策优化、限购松 绑、购房补贴等举措，推动市场活跃度显著提升。业内人士表示，从假期期间的政策效果来看，政策在一定程度上提振了市场信心，为"金九 银十"需求释放奠定了基础。在湖北，省住建厅的数据显示，国庆中秋假期期间，全省房地产销售面积同比增长12.9%，武汉、黄石、咸宁、 孝感、十堰等多地涨幅明显。 今年这个假期记者还注意到一个特点，就是不少城市正在销售的楼盘都在主打"好房子"，不但 ...

莱坊最新全球超级豪宅报告指出，香港第2季录得约53宗超级豪宅成交，位列全球统计城市的第四多， 按季亦增长约26.2%，涉及成交金额约9.97亿元，较首季劲升约43.9%。不过，较去年第2季约61宗及约 11.91亿元，仍减少约13.1%与下跌约16.3%。 莱坊高级董事及住宅物业代理部主管刘文华表示，香港豪宅市场于2025年第2季展现显著增长，不论交 易量或金额均按季上升，反映尽管面对宏观挑战，市场积压需求仍具韧性，预期复苏趋势将延续至下半 年，进一步巩固香港作为国际超级豪宅枢纽的地位。 根据报告内容，今年第2季全球12个市场涉及金额超过1,000万美元(折合约7,800万港元)的豪宅成交，多 达590宗，总成交金额达约118.48亿美元，较今年首季分别增长约12.1%及上升约26.5%；比较2024年同 期，更增长约18.7%及上涨约33.6%。 报告又指，第2季纽约的超级豪宅成交金额约28.58亿元，为全球首位，按季大幅上涨约1倍；而迪拜期 间成交量高达143宗，稳占榜首，按季上升约28.8%。 该公司全球研究部主管Liam Bailey表示，全球超级豪宅市场持续展现强劲表现。迪拜仍然维持领先地 位，纽约 ...

Core Viewpoint - The Beijing Real Estate Brokerage Industry Association has issued a set of ten initiatives aimed at regulating the real estate brokerage sector to stabilize the market during a critical recovery phase [2][5]. Group 1: Market Stability and Information Disclosure - The association emphasizes the importance of real estate brokerage services and market information services in stabilizing the real estate market [2]. - It calls for maintaining a correct public opinion direction and objectively disclosing market information, avoiding exaggerated claims about market risks [5]. - The initiatives discourage the use of misleading headlines and ensure that market data is accurate and reliable [5][6]. Group 2: Business Operations and Ethical Practices - The initiatives prohibit false property viewings and enticing homeowners to list at lower prices, aiming to eliminate unethical practices [6][7]. - It is stated that brokers should scientifically assess property values and avoid using manipulative tactics to pressure homeowners into lowering prices [7] - The association insists on accurately reflecting market prices and not artificially lowering quotes to disrupt market order [7][8]. Group 3: Consumer Rights and Fee Transparency - The initiatives require clear pricing for services, ensuring that all fees are publicly displayed and no undisclosed charges are applied [8]. - It prohibits improper competition through promises of rebates or commissions to buyers and demands that brokers maintain normal financial order [8][9]. Group 4: Fair Competition and Market Ecology - The association calls for the prohibition of exclusive agreements that could harm fair competition in the market [9]. - It encourages reasonable fee determination based on the quality of brokerage services and discourages low-price competition that undermines industry standards [9].

Core Insights - Hong Kong's secondary property prices showed signs of stabilization in Q2 2025, with the Centaline City Leading Index dropping 0.2% week-on-week to 139.94 during the week of September 22-28 [1] - Small units (under 100 square meters) saw a 0.2% month-on-month price increase, while large units (100 square meters and above) experienced a 2.7% decline [1] - Year-on-year declines narrowed to -3.8% for small units and -5.8% for large units, indicating an improvement compared to Q4 2024 [1] Property Market Trends - In 2025, low-priced new properties in the New Territories (such as Shatin, Tuen Mun, and Tseung Kwan O) gained popularity, accounting for 50% of transaction volume, while central urban areas still face inventory pressure [1] - The stamp duty policy was adjusted for residential units priced at HKD 4 million and below, reducing the stamp duty from HKD 60,000 to HKD 100, which is less aggressive than the comprehensive measures taken in 2023-2024 [1] - Despite the weaker policy measures, the proportion of mainland buyers increased to 17.74% in the first half of 2025, up from 5.90% in 2020, injecting new demand into the market [1] Economic Context - The recovery of Hong Kong's economy has led to improved income expectations, combined with a temporary easing of interest rates (such as a short-term decline in HIBOR), supporting the initial stabilization of the property market [1] - From January to August 2025, the private residential price index only slightly decreased by 0.24%, indicating signs of price stabilization after a bottoming out [1]

Core Viewpoint - The article reveals unethical practices by real estate agents in Shanghai, including hiring actors to pressure homeowners into lowering property prices, which raises concerns about transparency and fairness in the real estate market [1][3][5]. Group 1: Unethical Practices - Real estate agents are training actors to create scenarios that pressure homeowners into reducing their asking prices, with significant price reductions observed, such as a property listed at 3.39 million yuan being negotiated down to 2.8 million yuan [1][3]. - The actors are instructed to highlight property advantages while downplaying disadvantages to manipulate homeowners' perceptions [1]. - A structured approach is used where actors feign discussions with family to create urgency, leading homeowners to lower their prices under psychological pressure [3]. Group 2: Market Dynamics - Following new regulatory measures in Shanghai, including relaxed purchase restrictions and lower down payment requirements, the new home market saw a short-term increase in transaction volume, particularly in areas outside the city’s outer ring [5]. - The second-hand housing market is experiencing intensified negotiations between buyers and sellers, with agents facing strict performance metrics that drive them to engage in deceptive practices [5][7]. - The exposure of these practices has led to a loss of trust in the real estate industry, increasing transaction costs and potentially exacerbating market volatility [7]. Group 3: Legal and Ethical Implications - The tactics employed by agents may constitute civil fraud, as they mislead homeowners into making erroneous decisions regarding property pricing [5]. - Legal experts indicate that homeowners could seek to annul contracts based on these deceptive practices, which would also require the return of agent fees [5]. Group 4: Industry Reputation - The incident has severely damaged the credibility of the real estate industry, with calls for greater transparency in property transactions, including the disclosure of actual transaction prices [7]. - The majority of second-hand property transactions in Shanghai are facilitated by agents, who are expected to provide accurate market information and ensure fair dealings [7].