深圳市住房和建设局最新公布的数据显示，截至2025年7月9日，今年第三季度深圳计划入市的商品房项 目33个，预计供应房源面积为1351241.78平方米，12351套，其中住宅的面积为1079851.54平方米， 10673套；商务公寓的面积为25121平方米，129套；商业的面积为69316.82平方米，710套；办公的面积 为176952.42平方米，839套。 ...

Group 1: Retail Market Performance - In Q2, Shanghai's retail market showed improved leasing demand with a net absorption of 156,000 square meters, driven by "consumption promotion" policies and emerging consumption trends [1] - Major brands, including luxury and sports brands, are increasingly interested in opening flagship and concept stores in core business districts, with Louis Vuitton recently launching a new landmark in Shanghai [1] - The vacancy rate in core business districts decreased by 0.3 percentage points to 9.6%, while the vacancy rate in non-core areas slightly increased by 0.3 percentage points to 14.1% due to ongoing market competition [1] Group 2: Rental Trends - Rental prices in Shanghai's retail properties continued to decline, with core district first-floor average rent decreasing by 1.1% to CNY 43.1 per square meter per day, and non-core area rent down by 1.8% to CNY 15 per square meter per day [2] - Landlords are offering rental discounts and attractive leasing terms to attract brands amid competitive market pressures [2] - Despite challenges, demand for leasing in sectors like sports apparel, trendy toys, and affordable dining is expected to grow due to consumer focus on health and entertainment [2] Group 3: Residential Market Insights - In Q2, Shanghai's overall new residential sales volume increased by 14.0% to 1.7 million square meters, with high-end residential sales showing a decline of 21.2% [2] - The pace of new residential project launches accelerated, with 1.67 million square meters of new supply introduced, a 114.5% increase from the previous quarter [2] - The average price of new high-end residential properties rose by 0.6% to CNY 147,900 per square meter, while the average price of second-hand high-end residential properties fell by 2.0% to CNY 132,800 per square meter [3]

本来是要整理今年下半年西安待入市的纯新盘信息的，结果发现很多地块已经摘地多年但项目尚未入市销售。 由此就有了这份西安存量住宅地块信息。 这些已经成交、项目尚未入市的住宅地块，总建面超过了1000万平方米！再加上已经入市的项目，尚未推售的房源量，西安商品住宅待售面积会更多。 这些地块，不同的项目可能接下来命运不同。有的很快会入市销售，有的则在很长一段时间里依然处于存量住宅地块中…… 地产房剑这一次所统计的地块，指的是2025年7月8日之前已经成交但项目尚未入市销售的住宅地块。 据不完全统计，有85宗地已成交但项目尚未入市销售。这85宗地总面积6297亩，总建面超过1000万平方米！ 实际上，这只是一份不完全统计，因为还有一些平台公司摘得地块我们没有统计，例如泾河地产、秦汉地产摘得的部分地块。将这些地块统计在内的话， 数据会更大。 这些已摘地未入市的项目，都是接下来西安商品住宅市场的潜在供应量。 西安这几年的国民经济和社会发展统计公报显示，2023年、2024年西安的商品住宅成交面积分别为1173.74万平方米、1131.02万平方米。 这意味着，仅这些已成交未入市销售的项目，已经足够西安全市卖一整年。 除了这些 ...

Group 1 - The construction of four key projects in Wuxi Huishan District, including Wuxi Haidar Intelligent Production Base and Wuxi Qianqiao Textile Machinery Equipment Co., is driving high-quality economic development in the region [1] - Wuxi Haidar Precision Slide Rail Co., Ltd. has initiated a project for a 5G intelligent opening and closing system with a total investment of 320 million yuan, aiming to enhance its capabilities in high-end intelligent manufacturing [2][3] - Wuxi Qianqiao Textile Machinery Equipment Co., established in 1988, is undergoing a smart transformation to improve its manufacturing of high-end textile machinery components [2][3] Group 2 - The establishment of the Xixi Cultural and Creative Industry Park is set to enhance the film and cultural industry in Wuxi, with a focus on creating a comprehensive industrial ecosystem [3] - The park, covering approximately 23,000 square meters, has attracted major film companies, which will contribute to the formation of a cultural industry cluster and promote further development in the region [3] - The construction of the Miaoxiang residential project, with an investment exceeding 500 million yuan, aims to provide quality housing and improve living standards for local residents [4]

6月底，楼市"半年考"交出成绩单。据中指研究院监测，今年1—6月，销售总额超千亿房企4家，较去年 同期减少2家，百亿房企46家，较去年同期增加2家；拿地投拓方面，TOP100企业拿地总额5065.5亿 元，同比增长33.3%。 中指研究院企业研究总监刘水分析，从市场表现来看，6月份重点城市新房及二手房销售环比均实现增 长，但同比仍有所下滑。从市场趋势看，房地产市场仍处于波动调整过程中，预计下半年城市分化行情 仍将延续。同时，"好城市+好房子"具备结构性机会，但市场全面止跌回稳，仍需政策进一步发力。 对于下半年的市场，一些房企也积极表态。龙湖集团方面向《华夏时报》记者表示，下半年，在保障偿 债的安全性前提下，龙湖会择机获取新土地，并根据市场变化确保弹性的供货，持续聚焦高能级城市， 做到"优中选优"。 上述重点城市也已成为房企销售的"主阵地"。中指研究院数据显示，上半年，20家代表房企47.8%的销 售业绩来源于二线城市，为主要业绩贡献来源，但同比下降6.8个百分点；一线城市销售业绩贡献率同 比增长9.0个百分点至40.0%。例如，1-5月，龙湖集团地产开发业务实现总合同销售金额285.5亿元。5 月，龙湖推出的 ...

Core Viewpoint - The real estate market in China is undergoing a "reduction in quantity and improvement in quality" as it accelerates inventory reduction, with a focus on optimizing existing policies to stabilize the market [1][7][11] Land Market Performance - In the first half of 2025, the transaction volume of operating land in 300 cities decreased by 8% year-on-year, with an average premium rate of 9.2%, an increase of 4.8 percentage points compared to the previous year [1][2] - Major cities like Chengdu and Hangzhou have seen land auction premium rates exceeding 50%, indicating a strong demand for quality land despite overall reduced supply [2][3] Inventory Reduction Efforts - The State Council has emphasized the need to assess existing land and ongoing projects to further optimize policies aimed at reducing inventory and stabilizing the real estate market [7][8] - As of May 2025, the narrow inventory of residential properties in 100 cities was 4.63 billion square meters, showing a downward trend, while the broad inventory remains a concern due to many undeveloped land parcels [5][6] Role of Local Government and State-owned Enterprises - Local governments are controlling land supply while enhancing quality, with state-owned enterprises playing a significant role in land acquisition, particularly in second and third-tier cities [3][11] - The proportion of land acquired by local investment platforms has remained above 50% from 2021 to 2024, peaking at 64% in 2024 [3] Policy Measures for Land Utilization - The Ministry of Natural Resources has introduced measures to address challenges related to idle land, including policies for reasonable adjustments and support for enterprises facing financial difficulties [8][10] - The use of special bonds for land storage has been reintroduced, allowing local governments to recover idle land effectively [10][11]

Core Viewpoint - The overall real estate market is showing signs of stabilization and weak recovery in Q2 2025, with new home supply and demand both increasing month-on-month but decreasing year-on-year, indicating significant supply constraints [1][2][6]. Supply - In Q2 2025, new home supply increased month-on-month but decreased by 20% year-on-year, with significant supply constraints remaining [2][6]. - Only first-tier cities saw a notable increase in supply, while second and third-tier cities continued to experience low supply levels, with the largest declines in the latter [4][6]. - The supply situation varied by city, with hotspots like Shanghai, Shenzhen, Chengdu, and Hangzhou experiencing increased supply, while weaker second and third-tier cities like Foshan and Huizhou saw significant declines [6][7]. Transaction Volume - The real estate market showed a weak recovery in Q2 2025, with a slight month-on-month increase in new home transactions, but a year-on-year decline [7][10]. - First-tier cities maintained strong transaction volumes, with cities like Beijing, Guangzhou, and Shenzhen showing positive year-on-year growth, while second and third-tier cities experienced mixed results [10][11]. - Overall, the transaction volume is expected to decline in Q3 compared to Q2, but the year-on-year decline may narrow due to last year's low base [27]. Second-hand Transactions - In Q2 2025, second-hand home transactions remained high but showed a downward trend month-on-month, with cities like Shenzhen and Xi'an experiencing significant year-on-year growth [11][14]. - Some third-tier cities also saw substantial growth due to low base effects from the previous year, while others remained in a correction phase [14][15]. Housing Prices - New home prices in 70 cities showed a narrowing year-on-year decline, with first-tier cities like Beijing, Shanghai, and Shenzhen maintaining high prices, while third-tier cities experienced steady price corrections [15][16]. - The price dynamics are influenced by the introduction of high-quality new properties, which have stabilized and slightly increased prices in certain markets [15][16]. Inventory - As of May 2025, the inventory of new homes was 463 million square meters, showing a downward trend due to supply constraints and stable transaction volumes [18][21]. - The inventory turnover period is stabilizing at around 25 months, with first-tier cities showing a significant decrease in inventory risks [21][23]. Outlook - The supply is expected to decline in Q3 2025, with first-tier cities remaining the focus for new launches due to strong demand [25][26]. - The overall market is anticipated to continue its weak recovery, with significant differentiation between core first and second-tier cities and weaker third-tier cities [27].

金十数据6月24日讯，上海中原地产数据发布的最新数据显示：上周（6月16日—6月22日）上海新建商 品住宅成交面积10.37万平方米，环比增加18.21%。据上海中原地产统计，上周上海新建商品住宅供应 量再度回升，达到8.62万平方米，环比增加113.48%。成交格局仍延续前期表现，中端改善项目是交易 主力。成交前十榜单中，均价6万-9万元/平方米的产品占据5席。近期单价超10万元的产品表现相对平 稳，上周榜单中有2个，并且排名处于中游位置。尽管强劲的势头有所缓和，但交易活跃度仍有延续 性。 （上证报） 上海中原地产：上周上海新建商品住宅成交面积环比增长18.21% ...

期货交易咨询业务资格：证监许可【2011】1285号 华联期货宏观周报 二手房价环比跌幅扩大 新房销售承压 20250622 研究助理：石舒宇 从业资格号：F03117664 0769-22116880 作者：黄秀仕 交易咨询号：Z0018307 从业资格号：F03106904 0769-22110802 审核：陈小国 交易咨询号：Z0021111 周度观点及策略 周度观点 • 5月份，四代住房标准令各线城市二手房房价环比降幅均有所扩大，同比降幅继续收窄；一线、二线新房房价环比转降。 • 一线城市新建商品住宅销售价格同比下降1.7%，降幅比上月收窄0.4个百分点。其中，上海上涨5.9%，北京、广州和深圳分别下降4.3%、 5.8%和2.6%。二、三线城市新建商品住宅销售价格同比分别下降3.5%和4.9%，降幅分别收窄0.4个和0.5个百分点。 • 一线城市新建商品住宅销售价格环比由上月持平转为下降0.2%。其中，上海环比上涨0.7%（前值0.5%），北京、广州和深圳分别下降0.4%、 0.8%和0.4%。二线城市新建商品住宅销售价格环比由上月持平转为下降0.2%。三线城市新建商品住宅销售价格环比下降0.3%， ...

房地产 房地产 2025 年 06 月 22 日 投资评级：看好（维持） 行业走势图 数据来源：聚源 -24% -12% 0% 12% 24% 36% 48% 60% 2024-06 2024-10 2025-02 房地产 沪深300 相关研究报告 《新房杭州环比领涨，二手房价同比 降幅缩小—行业点评报告》-2025.6.16 《单月销售数据仍降，新房市场延续 弱复苏趋势 — 行 业 点 评 报 告 》 -2025.6.16 《新房二手房成交面积环比增长，广 州全面取消限购限售—行业周报》 -2025.6.15 新房二手房成交面积环比增长，西安公积金直付新房 首付款 ——行业周报 | qidong@kysec.cn | | --- | | 证书编号：S0790522010002 | 齐东（分析师） 胡耀文（分析师） 杜致远（联系人） huyaowen@kysec.cn 证书编号：S0790524070001 duzhiyuan@kysec.cn 证书编号：S0790124070064 核心观点：新房二手房成交面积环比增长，西安公积金直付新房首付款 本周我们跟踪的 68 城新房成交环比增长，同比下降， 20 城 ...