2025 上半年中国物业管理市场总结&下半年趋势展望 中指研究院 2025-07-07 （一）市场环境：政策规范物业服务市场，平衡各方利益 1. 《人民日报》发文整顿物业乱象，规范服务行为 2025 年 4 月，《人民日报》党建版刊发《整治物业管理乱象，靶向发力》， 报道成都市在物业管理领域开展专项整治行动的情况。报道从查到底、专项治和 建机制三个角度，聚焦物业管理领域乱象，靶向发力，查处腐败案件，健全制度 机制，推动解决一系列群众急难愁盼问题。 物业管理乱象是长期困扰基层治理的主要问题之一，其出现原因主要包括以 下几个方面：其一，部分物业项目存在先天性的结构失衡，其中"建管不分"的 遗留问题尤为突出，由于前期物业管理通常由开发商指定关联物企负责，物业公 司缺乏独立性和中立性，容易偏向开发商利益，在房屋质量、规划变更、设施移 交等问题上难以维护业主权益。其二，当下行业市场透明度仍处在较低水平，物 业企业与业主的信息严重不对称，业主难以清晰了解物业服务成本构成、标准执 行细节、公共收益明细，物业公司则掌握全部信息和资源。其三，监督执行与法 制建设仍然存在不足，监管力量薄弱、执法难，街道、社区一级缺乏专业人员和 ...

Group 1 - Wang Shi, the founder of Vanke, is attempting to establish smooth communication with the decision-making team to ensure a stable transition and protect the interests of investors, partners, and employees [1] - Wang Shi acknowledges his deep connection with Vanke, stating that he is responsible for the company he founded, the systems he established, and the team he cultivated [1] - As of now, Wang Shi holds the title of Honorary Chairman of the Board at Vanke and is 74 years old [3] Group 2 - In June 2017, Vanke announced a new board of directors, with Wang Shi deciding not to be nominated as a board member, emphasizing the company's transition to a mixed-ownership model [5] - In January 2023, Vanke's management team underwent adjustments due to significant projected losses for 2024, leading to the appointment of Xin Jie as the new Chairman of the Board [6] - Vanke's Q1 report for 2023 showed nearly 38 billion in revenue, over 35 billion in sales, and a repayment rate exceeding 100%, with over 10,000 high-quality housing deliveries [6]

内容概况：近年来，中国房地产信息化行业市场规模呈现出快速增长的态势。随着房地产行业的数字化 转型加速，以及新兴技术如大数据、云计算、人工智能、物联网等在房地产领域的广泛应用，房地产信 息化市场规模持续扩大。据数据统计，2023年，我国房地产信息化行业市场规模达1998.84亿元。2024 年，我国房地产信息化行业市场规模约为2386.91亿元。 相关上市企业：东软集团（600718）、万达信息（300168）、万科A（000002）、河北建设 （HK.01727）、ST易联众（300096）、城建发展（600266）、保利发展（600048） 相关企业：易居（中国）企业控股有限公司、深圳市明源云科技有限公司、上海克而瑞信息技术有限公 司 关键词：房地产信息化行业产业链、房地产信息化行业发展现状、房地产信息化行业发展趋势 一、房地产信息化行业定义及分类 房地产信息化是指利用信息技术（如互联网、大数据、云计算、物联网、人工智能等）对房地产行业的 各个环节进行数字化、网络化和智能化改造，实现房地产资源的优化配置、业务流程的高效运作以及服 务质量的显著提升。其核心在于通过信息技术的深度融合，推动房地产行业向更加透明、 ...

Core Viewpoint - Vanke achieved significant financial performance in Q1 2025, with strong support from stakeholders and a comprehensive reform plan, indicating a positive trajectory for the company [1][2]. Financial Performance - Vanke reported Q1 2025 revenue of 37.995 billion yuan, with over 10,000 high-quality housing deliveries [1]. - The company achieved a sales amount of 34.92 billion yuan, with a repayment rate exceeding 100% [1]. - All public debts were repaid on time, and bulk transactions amounted to 3.8 billion yuan, unlocking over 4 billion yuan in cash flow [1]. Business Development - Vanke's comprehensive residential products received market recognition, with the Guangzhou Ideal Huadi project leading in both sales volume and sales amount in the main urban area [1]. - Projects in Shanghai, Hangzhou, and Tianjin achieved a de-stocking rate exceeding 80% [1]. - The long-term rental apartment business maintained industry-leading scale and efficiency, with asset quality recognized by the market [1]. Strategic Partnerships - Vanke's long-term rental apartment brand, "Boyu," signed a cooperation framework agreement with Shenzhen Metro Property Group to enhance integration in the housing rental sector [3]. - The partnership aims to leverage Shenzhen Metro's asset advantages and Vanke's brand influence in the rental market [3]. Service Business Growth - Vanke's property management segment saw a new project annualized revenue growth of over 50% year-on-year, introducing an elastic pricing service model [2]. - The commercial business experienced steady growth in foot traffic and sales, with a 97% occupancy rate achieved at the newly opened Shenzhen iN City Plaza [2]. - The logistics business led the industry in occupancy rates, with cold chain revenue showing double-digit year-on-year growth [2]. Financial Support - Shenzhen Metro Group plans to provide Vanke with a 3.3 billion yuan shareholder loan at a rate of 2.34%, significantly lower than the national interbank lending rate [2]. - The support from Shenzhen Metro Group has been consistent through various means, including bulk transactions and REITs subscriptions, demonstrating confidence in Vanke's recovery [2][3].

前三月，万科综合住区产品创新获市场认可，理想花地项目成为广州主城区销售套数、金额双料第一， 天津、杭州等多地项目实现开盘即售罄。租购并举时代，万科长租业务规模、效率、纳保量行业第一， 长租Pre-REIT基金获中信等知名机构投资。同时，泊寓与深铁置业达成战略合作，探路融合发展。经营 服务业务方面，万科物业新拓存量项目年化收入增长超50%，在业内率先推出弹性定价体系服务模式； 商业业务客流、销售额稳健增长，目前已为GIC、黑石等知名机构业主提供轻资产运营服务，存量改造 的深圳iN城市广场于季报发布同日开业，实现97%出租率；物流业务出租率行业领先，冷链收入双位数 增长。此外，万科还积极开展科技自主创新，截止目前已获近300项国家专利，部分关键技术入选国际 最顶级AI学术会议，获得建筑科技领域国家最高奖项"华夏奖"。 今年以来，万科(02202)在改革化险之路上全力行动、步履不停。 智通财经APP获悉，4月29日，万科发布2025年一季报，在各方及大股东强有力的支持下，积极实施"一 揽子"方案，推进改革化险与融合发展，实现营收近380亿，销售近350亿，回款率超过100%，完成超1 万套房屋高质量交付，一季度公开 ...

全力以赴，承压而上。4月29日，万科发布一季报，在各方及大股东强有力的支持下，积极实施"一揽 子"方案，推进改革化险与融合发展，实现营收近380亿，销售近350亿，回款率超100%，完成超1万套 房屋高质量交付，一季度公开债全部如期兑付，并完成大宗交易38亿元，盘活回款超40亿。 此外，万科长租公寓业务保持规模、效率、纳保量行业领先，资产质量获市场认可，Pre-REIT基金获中 信等知名机构投资。同时，泊寓还与深铁置业达成战略合作，探路融合发展。经营服务业务方面，万科 物业新拓存量项目年化收入增长超50%，在业内率先推出弹性定价体系服务模式；商业业务客流、销售 额稳健增长，目前已为GIC、黑石等知名机构业主提供轻资产运营服务，存量改造的深圳iN城市广场于 季报发布同日开业，实现97%出租率；物流业务出租率行业领先，冷链收入双位数增长。 拥抱AI时代，万科还积极应用科技助力"好房子、好服务"。经过多年投入，万科目前已获近300件国家 专利，部分关键技术入选国际知名AI学术会议，获得建筑科技领域国家最高奖项"华夏奖"。万科还在业 内首创房地产图纸大模型及相关AI技术，有效提升了项目管理和施工效率，已服务近百家知名 ...

Core Viewpoint - Vanke is actively implementing a comprehensive plan for reform and integration development, supported by its major shareholder, Shenzhen Metro Group, achieving significant financial results in Q1 2023. Group 1: Financial Performance - Vanke reported nearly 38 billion in revenue and approximately 35 billion in sales for Q1 2023, with a repayment rate exceeding 100% and over 10,000 high-quality housing deliveries [1] - The company completed a bulk transaction worth 3.8 billion and revitalized cash flow exceeding 4 billion [1] Group 2: Long-term Rental Apartment Business - Vanke's long-term rental apartment brand, "Boyu," signed a cooperation framework agreement with Shenzhen Metro Group to enhance integration in the housing rental sector [1] - The long-term rental business has become a leading player in the rental housing market, managing over 260,000 units and maintaining a rental rate of nearly 95% [2] - The business has received recognition from over 5,700 corporate clients, including major companies like Tencent and BYD [2] Group 3: Innovation and Market Recognition - Vanke's comprehensive residential product innovation has been recognized, with the "Ideal Flower Land" project achieving the highest sales in Guangzhou's main urban area [3] - The property management segment saw an annual revenue growth of over 50% and introduced an elastic pricing service model [3] - Vanke has obtained nearly 300 national patents and has been recognized with the highest national award in building technology, the "Huaxia Award" [3]

智通财经4月29日电，万科发布一季报，第一季度实现营收近380亿，销售近350亿，回款率超100%，完 成超1万套房屋高质量交付，一季度公开债全部如期兑付，并完成大宗交易38亿元，盘活回款超40亿。 一季度，万科新一代综合住区产品多城热销，理想花地成为广州主城区销冠，上海、天津、杭州等多地 项目去化率超80%；长租业务规模、效率、纳保量行业第一，同时还与深铁置业达成战略合作，探路融 合发展。经营服务业务方面，万科物业新拓存量项目年化收入增长超50%；商业轻资产运营服务已获 GIC、黑石等知名机构认可；物流业务出租率行业领先，冷链营收双位数增长。此外，万科长期坚持自 主创新，截至目前已获技术专利近300项。 万科A：一季度营收近380亿 多地项目热销 科技专利累计近300项 ...

物业"降费"的风愈演愈烈，逐渐从二线城市绵延至一线城市。 近日，深圳、上海等一线城市均有豪宅盘与物业企业协商物业费降价，且物业费 降 幅 高 达 3 元/平方米 。与此同时，重庆、武汉等二线城市，则有超百个楼盘成功实现物业费下调。 根据中指研究院监测，2 0 2 4年至今，降费项目主要集中在我国部分二线城市及三线城市，如 重庆、青岛、武汉、银川、成都、南昌、徐州等城市，尤其是去年以来发布物业费限价政策 的城市，物业费整体降幅区间主要集中在1 0%~4 0%。不同城市、不同项目的物业费跌幅差异 较大。 在 当 前 房 地 产 行 业 调 整 的 背 景 下 ， 业 主 与 物 业 企 业 正 通 过 积 极 协 商 寻 求 服 务 与 收 费 的 平 衡 点。这一轮物业费调整的诉求，反映了业主对物业服务品质与价格匹配度的更高期待。 随着物业行业市场化程度不断提升，物业企业正面临全新的竞争格局，不再能"躺着赚钱"。 在业委会手握更换物业权力的背景下，服务质量已成为决定企业去留的关键因素。物业企业 正逐步认识到，需要迎合业主的需求在价格上作相应的让步，以避免"捡了芝麻丢了西瓜"的 局面。 客观而言，如果物业费出现大 ...