作为一名长期关注中国楼市的观察者，尤其关注农村人口进城定居的趋势，我深耕地产研究已有十八载。我希望能成为您了解楼市动态、把握置业先机的 可靠朋友。 近日，在房产交流群里，我听到一个颇具代表性的案例，令人深思。 在地方层面，已经开始落地不少大招。以上海为例，其行动最为迅速和有力。 2月初，上海联合建设银行，在浦东、静安、徐汇三个核心区域，正式启动收购二手住房用作保障性租赁住房的计划。 这一举措有两方面的意义。一方面，国家队真金白银入场，直接消化市场上最难出售的"老破小"，为积压的库存打开了一个突破口。另一方面，也等于为 二手房市场划定了一条"官方底价线"，向市场传递信号：不必恐慌，房价跌到一定程度，有国家托底。 这并非上海的独有行动。北京早在去年底就已放宽了非京籍购房门槛，直接刺激了学区房市场。西城、朝阳等热门区域的部分小区，成交量甚至翻倍，价 格也上涨了数十万元。郑州、南京、青岛等地，也早已开始了类似的"收购存量房"的探索。 与以往不同，这轮救市不再是普惠式的大水漫灌，而是聚焦核心城市，瞄准刚需和改善型需求的"定向爆破"。 故事发生在上海市静安区。上周，一套二手房的买卖双方原本已就价格达成共识，眼看就要签订合 ...

最近身边聊房子的人，语气全变了。以前是抢房、涨价、连夜排队，现在是砍价、观望、开发商愁得睡不着。你以为楼市只是暂时降温？错了，一组组冰冷 数据砸下来，谁都没法装看不见。过去那种闭眼买房就能赚的时代，彻底翻篇了。现在的楼市，不是调整，是真真切切在往下走，硬着陆不是预测，是正在 发生的现实。 一、销量跌回十几年前，新房市场直接冻住 2025 年全国新房卖了 8.8 亿平米，比上一年再缩 8.7%，这个体量直接退回到 2009 年的水平。住宅卖得更差，7.4 亿平米，连 2007 年的规模都没保住。 简单说，现在的新房成交量，比很多人刚上班、刚用智能手机那会儿还要低。 销售额也跟着跳水，全年只有 8.39 万亿，比 2024 年再少一成多。以前开发商开盘就日光，现在售楼处一天见不到几个客户，就算降价几十万，愿意接盘的 人也寥寥无几。很多城市的楼盘，降价、送车位、送装修全用上，还是没人买单。 新房卖不动，直接导致整个行业停摆。开发投资跌到 8.27 万亿，同比大降 17.2%，新开工面积少了两成，竣工量也少了近两成。以前到处是塔吊、推土 机，现在大片工地安安静静，有的干脆停工，连复工的消息都等不到。 二、房企钱袋子彻 ...

Core Viewpoint - The company, Yue Gang Wan Holdings (01396), has been included in the MSCI China Small Cap Index, effective after the market close on February 27, 2026, which reflects positive recognition of its business performance and investment potential [1] Group 1: MSCI Inclusion - The inclusion in the MSCI China Small Cap Index is expected to enhance the company's public visibility and increase the liquidity of its shares, thereby improving its investment value [1] - MSCI is a globally recognized independent index provider, and its indices are widely used as investment benchmarks by global investment managers [1] Group 2: Business Development - The board expresses gratitude to shareholders and investors for their continued support and emphasizes the company's commitment to deepening its development in the AI business sector [1] - The company plans to focus on AI hardware infrastructure, integration of AI computing resources, and collaborative ecological services to support the intelligent upgrade of various industries [1]

此外，于2025年上半年购入按权益法入账的投资对象的额外股本权益所确认的暂时负商誉9490万坡元于 2025年下半年拨回。诚如OUE公布所述，来自所占按权益法入账的投资对象业绩的亏损、预期OUE集 团于上述按权益法入账的投资对象的投资减值以及暂时负商誉的拨回主要为非现金性质及并无对OUE 集团的营运现金流及企业融资要求有重大影响。 智通财经APP讯，香港华人有限公司(00655)发布公告，本公司一间主要合营企业的附属公司OUE Limited(一间于新加坡证券交易所有限公司主板上市的公司，连同其附属公司，合称"OUE集团")于本公 布日期发出其截至2025年12月31日止年度(本年度)未经审核财务业绩的溢利指引的公布(OUE布)。根据 OUE公布，OUE集团预期于本年度取得股东应占亏损，亏损主要由于所占来自其按权益法入账的投资 对象约2.2亿坡元至2.4亿坡元的亏损，包括一间其于中国内地业务受中国内地普遍放缓的物业市场及现 时经济环境下的不利影响的投资对象;及OUE集团预期对按权益法入账之投资对象的投资所确认的减值 亏损(须待减值评估之最终确定)。 根据本公司现有的资料，预期本集团于本年度可能取得所占合营企业 ...

因政府要求纳入公益性徵地范围的企业不仅要尽快配合政府完成拆迁等工作，而且要保持社会稳定；所 以，广东畅纳及其合作方和广州畅流形成了和解协议：集团的广州畅流须向广东畅纳及其合作方支付赔 偿款人民币1.8亿元(「该赔偿款」)。 就该赔偿款而言，集团正评估该赔偿款对于集团的影响并与广东畅纳及其合作方协商付款方式及安排； 为了保护集团的广州畅流利益，等候相关政府部门的最终徵地拆迁补偿条款解决和解协议应尽的赔偿责 任，集团董事会决定对广东畅纳及其合作方或其指定人士给予人民币票据、一年期限、年化4%利息。 同时，集团董事会指示按照香港及内地的有关法律、法规依法合规安排票据的完成，达成共识，帮助集 团的广州畅流继续向政府力争尽早和政府完成徵地补偿安排解决问题。 格隆汇2月15日丨新城市建设发展(00456.HK)公布，2026年2月13日，董事会获告知，集团下属的广州畅 流位于中华人民共和国广东省广州市海珠区赤岗西路20-22号，通称畅流工业园的投资物业，于2025年 初被政府纳入统一的公益性徵地范围，造成了广州畅流与广东畅纳投资开发有限公司(「广东畅纳」)就 集团投资物业所订立的租赁协议被迫终止，广东畅纳提出，其在租赁协 ...

本次活动由连州市住房城乡建设局主办，旨在抢抓春节消费黄金期，提振房地产市场信心，推动行业平稳健康发展。展销活动于2月10日至12日，同步在顺 盈广场商业中心、粤北大周商贸城花市及迎春晚会现场等人流密集区域设点，将商品房展销促销融入年俗，借节庆氛围扩大宣传覆盖面。促销活动则在五个 楼盘售楼部持续开展，一直延续至3月18日，为市民提供更充足的看房选房时间。 "活动不搞花架子，企业轻装上阵，市民得到实惠，这样的展销才有生命力。"连州市住房城乡建设局相关负责人表示。接下来，连州将继续围绕"稳地价、 稳房价、稳预期"目标，支持刚性和改善性住房需求，持续优化营商环境，让更多市民在连州安居乐业，让楼市"暖意"伴随新春气息，走进千家万户。 文图：南方+记者 黄津 通讯员 黄国斌 新春将至，年味渐浓。2月12日晚，连州市迎春晚会现场灯火璀璨，舞台一侧的商品房展销区同样人头攒动。市民张女士在展位前仔细询问楼盘详情，"听说 今年有新盘优惠力度不小，特意带孩子来看看，想在广州六中连州实验学校旁边安个家。"不远处，粤北大周商贸城花市和顺盈广场商业中心的展销点，也 吸引了不少市民驻足咨询。2月10日起，一场以"迎新春·购新房·过暖冬"为 ...

Economic Overview - In 2025, the domestic economy showed a "steady improvement" with a GDP of 140.19 trillion yuan, reflecting a 5.0% growth year-on-year at constant prices [1] - Consumer prices remained stable compared to 2024, indicating no significant inflation or deflation [1] - Challenges persist in the real estate market, with weak transaction volumes and declining consumer demand, alongside ongoing employment pressures [1] Real Estate Market Changes - The real estate market is expected to undergo three significant changes starting March 2026, with a continued downward trend in housing prices [3] - Housing prices in second and third-tier cities have seen declines exceeding 30%, while some areas near Beijing have experienced drops over 60% [5] - A divergence in housing price trends is anticipated, with smaller cities experiencing a slowdown in price declines, while first-tier cities like Shanghai and Shenzhen may face further price corrections due to high price-to-income ratios [5] Quality of Housing - Developers are shifting from a "rough development" model focused on speed and profit maximization to a focus on building quality homes, responding to increased consumer demands for better housing [6] - The government is encouraging developers to construct "good houses" to meet the needs of homebuyers [6] Sales Model Transition - There is a growing demand to replace the pre-sale system with actual sales of completed homes, driven by issues such as unfinished projects and consumer dissatisfaction [9] - The government plans to gradually increase the proportion of completed home sales in the market [9] Automotive Market Dynamics - The automotive market is experiencing significant price pressures, with many brands engaging in price wars, leading to substantial discounts [10] - Domestic brands like BYD and Xpeng have reduced prices by 20,000 to 30,000 yuan, while luxury brands like BMW have seen reductions of 80,000 to 90,000 yuan [12] - Factors contributing to this price decline include increased competition from new energy vehicles, the entry of new capital into the market, and rapid technological advancements leading to quicker obsolescence of older models [12] Deposit Rate Trends - Deposit rates have been on a downward trend, with one-year deposit rates falling from 2.25% to 1.35%, resulting in significantly lower interest income for savers [15] - The potential for further declines in deposit rates is limited due to the risk of inflation and the current rates being at historical lows, which could pose systemic financial risks [15]

香港富豪榜的前十排位，每一年都比较固定，尤其是前十的排位，不同的是各个巨富资产的变化。首富李嘉诚以451亿美元再度蝉联冠军，相较于2025年， 李嘉诚今年的身家涨了78亿美元，可谓是遥遥领先其他的富豪。 福布斯在每一年的二月都会公布该年度的香港富豪榜。2026年的香港富豪榜已经出炉，前四位的排位与2025年的一样，首富仍然是李嘉诚，他以451亿美元 的身家蝉联冠军，第二位仍然是李兆基，持有349亿美元，两者的财富差距相差102亿美元。而第三位、第四位分别是郑家纯家族以及李锦记家族。值得一提 的是，香港四大家族中之一郭得胜家族中的代表郭邝肖卿仍然是香港女首富，排在第五位。 排在第二位的李兆基，因为他在2025年已经离世了，所以如今上榜的名头也更改了，以其两个儿子联名的形式上榜，成为李家杰及李家诚家族。兄弟俩是恒 基兆业地产的联席主席，总资产相对于2025年也增长了不少——2025年李兆基身家为292亿美元，2025年则达到349亿美元，增长了57亿美元。 郑裕彤家族的当家郑家纯仍然排在第三位，其名下的产业虽然在2025年有较为剧烈的震荡，一度传出爆雷的消息，不过底子仍然厚实，仍然达到261亿美 元。第四位的李锦 ...

Core Viewpoint - The A-share listed real estate companies are facing significant losses in 2025, with 74% of the 77 companies that released earnings forecasts expecting to report losses totaling approximately 208.2-209.4 billion yuan, indicating a deep industry adjustment [2][4]. Group 1: Loss Forecasts - Among the companies, Vanke is expected to incur the largest loss of 820 billion yuan, marking the highest loss in A-share real estate history, a 65.7% increase from 2024 [4]. - Other companies with substantial losses include China Fortune Land Development (160-240 billion yuan), Greenland Holdings (160-190 billion yuan), and China Overseas Land & Investment (130-155 billion yuan) [4][5]. - The overall decline in sales volume and prices is reflected in the financial metrics, with a reported 8.7% decrease in new housing sales area and a 12.6% drop in sales revenue [5]. Group 2: Common Challenges - The primary reasons for the losses include weak sales leading to reduced profit recognition, as profits from real estate sales are recognized with a lag [6]. - Despite diversification efforts, companies remain heavily reliant on real estate development, which has been underperforming during the industry downturn, limiting their ability to offset losses from core operations [6]. - Asset impairment provisions have surged due to declining real estate prices, with Vanke reporting over 50 billion yuan in impairments, significantly impacting overall losses [6]. Group 3: Notable Exceptions - Kaisa Group stands out as a positive example, projecting a net profit of 300-350 billion yuan for 2025, primarily due to debt restructuring gains of 680-700 billion yuan [7]. - The company has shifted its focus from traditional real estate development to light asset operations, including property services and commercial management, to enhance resilience against market fluctuations [7]. Group 4: Industry Outlook - The year 2025 is seen as a critical period for the real estate sector, with ongoing adjustments expected to lead to a gradual recovery starting in 2026, supported by favorable policies and market improvements [11][12]. - Regulatory measures are being implemented to stabilize the financing environment and stimulate demand, which may help quality companies regain market share while weaker firms face potential elimination [11][12].

智通财经记者 计思敏 春节假期前，全国多地出台新一轮房地产市场优化政策，从公积金贷款提额、购房补贴到信贷条件放 宽，全方位降低居民置业门槛。与此同时，各地抢抓返乡置业窗口期，推出购房节、返乡专属让利、楼 盘优惠等系列举措，激活新春住房消费潜力。 新一轮楼市新政密集落地 2月14日，据微信公众号"惠州住建"消息，惠州市住房和城乡建设局等7部门联合发布房地产新政，推出 8项精准工作措施，内容涵盖住房公积金支持、住宅品质提升、信贷政策优化、金融监管完善、市场秩 序规范等多个维度，并自措施发布之日起施行。 在加大住房公积金贷款支持力度方面，新政提出，首套房个人最高贷款额度提至50万元，家庭（夫妻双 方）最高贷款额度提至90万元；二套房个人最高贷款额度提至40万元，家庭（夫妻双方）最高贷款额度 提至70万元。 同时，Ⅰ类人才首套、二套住房，个人最高贷款额度提至150万元；家庭（夫妻双方）最高贷款额度提 至200万元。Ⅱ类人才首套房个人最高贷款额度提至80万元，家庭（夫妻双方）最高贷款额度提至120万 元；二套房个人最高贷款额度提至70万元，家庭（夫妻双方）最高贷款额度提至110万元。 此外，"商业住房贷款转住房公积金贷 ...