据中指研究院监测，2025年8月房地产行业债券融资总额为553.1亿元，同比下降4.3%。不过，2025年前 8个月，房地产企业债券融资总额为3808.9亿元，同比微增0.8%。从融资结构来看，房地产行业信用债 融资2290.9亿元，同比下降6.9%，占比60.1%；海外债融资57.3亿元，同比下降14.4%，占比1.5%；ABS 融资1460.7亿元，同比增长16.8%，占比38.3%。 中指研究院企业研究总监刘水表示，近期多家房企披露了新增融资或者债务重组的最新进展。截至2025 年8月末，20余家出险房企债务重组、重整获批。目前，房地产政策环境预计维持宽松，各项已出台政 策有望进一步落实，但城市及项目分化行情或将延续。企业还应结合销售拿地情况，提前筹划现金流， 防范资金风险。同时，可积极利用项目"白名单"机制、经营性物业贷、公募REITs和持有型不动产ABS 等融资政策，多渠道拓展融资现金流入。 上海易居房地产研究院副院长严跃进认为，优质房企融资端的畅通叠加融资成本的下降，有助于稳定市 场主体预期。一方面，债务工具的成功发行为企业提供了必要的流动性，减轻偿债高峰期的集中压力； 另一方面，随着更多房企尝试 ...

Group 1 - Recent financing activities by real estate companies have accelerated, with New City Development issuing $160 million in guaranteed notes at an interest rate of 11.88% for a 2-year term [1] - Poly Developments plans to issue corporate bonds up to 15 billion yuan, with a maximum term of 10 years, aimed at repaying debts, supplementing working capital, and project development [1] - Wanda Group disclosed the issuance of 1 billion yuan in medium-term notes for a term not exceeding 5 years [1] Group 2 - The real estate sector is facing a debt peak in Q3 2025, with a total debt repayment of 525.7 billion yuan for the year, an 8.9% increase year-on-year, and nearly 160 billion yuan due in Q3 alone [1] - Despite a slight recovery in sales, the overall sales scale remains low, leading to cash collection pressures for real estate companies [1] - The financing cost for the industry is decreasing, with the average bond interest rate at 2.83% in the first half of 2025, and credit bonds averaging 2.61% [2] Group 3 - The successful issuance of debt instruments provides necessary liquidity for companies, alleviating the concentrated pressure of debt repayment peaks [3] - As more real estate companies attempt to restore market financing channels, overall industry confidence is expected to improve [3] - Companies with stable fundamentals and accessible financing channels are likely to alleviate pressure and reduce debt levels, while smaller firms need to be cautious with debt and investment [3]