9 月克而瑞百强房企销售解读 摘要 2025 年前三季度全国累计销售金额同比下降 11.8%，但降幅较 1-8 月 收窄 1.3 个百分点，显示市场降幅趋缓。 9 月 Top3 房企销售额同比增长 2.6%，百强房企整体同比增长 0.4%， 较 8 月显著回升，但各梯队房企累计销售额仍同比下降。 9 月重点城市新房新增供应面积环比大增 55%至 1,020 万平方米，为年 内次高，但同比仍下降 15%，供应增加是业绩环比增长的重要因素。 9 月 30 个重点城市新房成交面积环比上升 18%，同比下降 5%，一线 城市成交回升，但整体市场仍低于去年同期水平。 9 月新房市场去化率下降 4 个百分点至 38%，表明市场虽有回暖，但整 体去化压力仍然存在，城市间分化明显。 二手房市场 9 月环比下降 1%，同比增长 10%，一线城市政策效果显现， 但以价换量为主，与新房市场趋势背离。 预计 2025 年 10 月新房成交量将继续保持低位，同比降幅可能扩大， 二手房成交动能放缓，市场整体仍面临下行压力。 Q&A 今年 9 月份百强房企的销售情况如何？ 从各梯队房企的表现来看，Top 3 房企（如保利、绿城、中海）单月 ...

广告 2025年，沈阳土地市场似乎找回了"往日风采"，今年1-9月，共有15宗居住用地成功出让，其中不乏"高溢价"的土地。 但是其中并没有出现于洪区的身影，千呼万唤始出来，沉寂已久的"出地大户"，终于又有新地亮相了！ 年度单宗最大地块 18万方宅地为造化楼市注入新鲜血液 根据公开资料显示，正良四路1-1号地块地处于洪区，东至30米规划路西侧道路红线、南至22米规划路北侧规划绿线、西至30米规划路东侧规划绿线、北 至22米规划路南侧道路红线，土地面积17.9万平，用地性质为二类居住用地（R2），容积率不大于1.6大于1.0。 商业比例3-5%，建筑高度不大于60米（以净空批复为准），出让年限住宅70年，商业40年。 | 序号 宗地编号 | 地块名称 | 四至葱围 | 土地 座部 | 土地面积 (平方米) | 用地性质 容积率 | | 商业 比例 | 建筑 密度 | 绿地率 | 建筑高 度 | 出社 非图 | 起始价 (元/建 筑平方 米) | 竞买保证 0 | 增价幅度 (元/建 筑平方 米) | 备注 | | --- | --- | --- | --- | --- | --- | --- | --- | -- ...

一家新开的楼盘，10月1日公开当天就接待了超300组客户；紫金山下、南部新城、江北新区等多个新盘 也是人头攒动，据相关工作人员介绍，售楼处平均日接待量破百。业内人士表示，当下"房子是用来住 的"这句话已深入人心，现在买房客户主要关注居住品质，当下四代宅这种"好房子"恰恰符合了买房人 的自住需求，预计这波看房热潮将对后续销售带来非常积极的影响。该项目工作人员告诉记者，作为首 个新青年四代宅项目，来访客户多为首次置业的年轻群体，社区贴近生活的实际场景感比较能打动他 们。 10月3日，在南部新城首个四代宅项目丹锦园，长期关注南部新城板块的丁先生在项目119平方米的样板 间驻足了很久。他主要关注现代产品和以往产品的差别，现在户型使用率的提升，包括露台带来的"养 花种草"场景很吸引人。丹锦园的负责人表示，项目的特点是凸显实用度和耐用性，回归居住本质，毕 竟现在买房的客户主要关注的是住得舒不舒服，保值增值的金融属性已经退后了。 有楼盘假期首日到访超300组，紫金山下、南部新城新盘日均到访超百组 "吸睛"假期，"好房子"点燃南京楼市 □ 南京日报/紫金山新闻记者 冯浩 何钢 国庆假期，南京多个新盘齐开，品牌房企积极端出"好 ...

刚刚（9月30日），南京拍出6幅地块，成交总价42.1426亿元！ 土拍看点 1、历时2个半小时，竞价74轮，常州嘉宏幸运夺得G71地块，再次进驻百家湖。该地块住宅容积率仅为1.1，户型面积要求不低于160㎡，户均建筑面积不 低于190㎡，江宁又一改善四代宅产品诞生！ 2、中堃置业首进河西中，底价拿下中胜附近的低密迷你宅地，下一个VILLA产品预定！此前，中堃置业拿下了老门东、珠江路两幅地块，打造了门东 VILLA、金陵VILLA项目，即将上市。 NO.2025G56地块 3、奥体建设深耕南部新城，又斩获一幅低密宅地！该地块位于七桥片区，紧邻秦淮新河，周边有望樾府、云澜尚府、凤栖潮鸣等项目。近日，由奥体建 设开发的首个四代宅——丹锦园，预计十一公开样板间，10月开盘。 6幅地块出让结果详情↓ 最新土拍战报 南部新城G56地块，底价成交，拿地房企为 奥体建设，成交总价 10.08亿元，成交楼面价23079元/㎡。 六合龙袍G68，底价成交，拿地房企为龙跃地产，成交总价1.24亿元，成交楼面价7445元/㎡。 六合马鞍G69地块，底价成交，拿地房企为六合新市镇，成交总价3.73亿元，成交楼面价3725元/㎡。 百 ...

Core Insights - The real estate market in major cities like Beijing, Shanghai, and Shenzhen is experiencing changes due to recent policy relaxations aimed at stimulating domestic demand and accommodating young buyers [2][5][10] Policy Changes - Major cities have relaxed purchase restrictions, with Beijing and Shanghai reducing the social security contribution period to 1-2 years for new buyers, while Shenzhen has eliminated restrictions in several areas [2][5] - These changes are designed to attract young professionals and new residents, making homeownership more accessible [2][5] Young Buyers' Perspectives - Young buyers are now more cautious, shifting from a mindset of "jump and reach" to "squat and wait," indicating a more conservative approach to purchasing homes [5][10] - Many young individuals prefer to increase their down payment to reduce mortgage pressure, reflecting a desire for financial stability [6][9] Housing Preferences - Young buyers are weighing the trade-offs between location and living conditions, often opting for properties in central areas despite potential compromises in living quality [7][9] - The price drop of older properties has made suburban options less appealing, as urban properties have become more affordable [8][9] Timing for Purchase - The timing for purchasing a home is subjective; while some believe lower prices indicate a good time to buy, others argue that housing should primarily be viewed as a living space rather than an investment [10][11] - For those who prioritize living quality over potential price drops, entering the market may be advisable [11][12] Market Trends - The demand for older properties in prime locations remains strong, as buyers recognize their current value and limited future supply [12][13] - The ongoing urban renewal projects are expected to enhance the living conditions of older neighborhoods, making them more attractive [13][14] Rental Market Insights - Renting is increasingly seen as a viable option for young individuals, especially those uncertain about their long-term plans [17][18] - The rental market is supported by improved regulations and the availability of affordable rental options, making it a practical choice for many [17][18]

以下文章来源于克而瑞产品测评 ，作者产品力研究中心 克而瑞产品测评 . 聚焦房地产产品、交付研究及产品力、交付力测评 1本月看点 HIGHLIGHTS 房企产品动态 万科植物园已成为万科长期品牌战略。 客户趋势 住宅结构特征 产品亮点分析 四代宅 亮点：挑空墅厅突破空间格局 。 老人独居趋势下，银发族未明言的居住痛点值得关注。 住宅产品需关注居家养老需求，打造包容各年龄段的代际友好型家居环境。 1 - 8月，全国市场成交面积中枢稳步提升，14 0- 16 0㎡产品市场份额同比增加1.2个百分 点，120- 140㎡产品同期占比也增加1个百分点，其余更大面积段产品成交占比也同比持 增。 从总价段来看， 环渤海、长三角 区域趋向高总价段 ， 中西部区域 趋向 低 总价段 ， 而珠三角区域低总价产品成交结构稳健。 1 - 8月，上海成 交向主 力面 积段集 中，且趋向更 大面积，100- 120㎡、 90 - 100㎡和 120- 1 40㎡产品占据成交前三位，且10 0㎡以上的两个面积段产品的比重同比增幅合计超过一 成。成都成交由二房、三房向四房迁移，前两者的成交占比较去年同期分别下降0.6和 2 .9个百分点， ...

Core Viewpoints - The article discusses the ongoing adjustments in the real estate market, particularly focusing on price fluctuations and inventory pressures in cities like Nanjing, where 71% of newly built communities saw price reductions in August [5] - The report highlights the increasing transaction volume in the auctioned property market, indicating a potential recovery phase for the industry [7] - It notes a rebound in land auction activity, with significant price increases in certain areas, suggesting a renewed interest in land acquisition despite previous declines [8] Market Trends - Nanjing's housing prices are under pressure due to high inventory and land supply, leading to a deep adjustment period for second-hand homes [5] - In major cities like Beijing, Shanghai, and Shenzhen, there is a growing trend of small-sized, low-total-price transactions, particularly among first-time buyers [5] - The auction market for distressed properties reached a new high in August, with luxury properties in Shenzhen selling at an 80% premium, indicating strong demand in this segment [7] Land Supply and Auction Activity - The land auction market is showing signs of recovery, with a notable increase in average premium rates to 6.4%, up by 4.1 percentage points [8] - The total land supply and transaction volume in key cities have decreased significantly, with a 45% drop in supply and a 41% drop in transaction volume compared to the previous week [8] Policy Support - Local governments are implementing measures to boost demand, including optimizing housing fund policies and enhancing tax benefits, particularly in Shenzhen [9] - The article emphasizes the importance of these policies in stabilizing the market and supporting homebuyers [9] Company Performance - China Merchants Shekou reported a net profit margin of 3.38%, with a decrease in retained earnings due to perpetual bond impacts [13] - Gemdale Group is facing sales and profit pressures, necessitating a focus on restoring operational momentum [14] - New Town Holdings has achieved a sales collection rate of 115.05%, with its commercial sector acting as a stabilizing profit source [15] - Shoukai Co. has seen a narrowing of losses and improved gross margins, supported by low-cost financing [16]

Core Viewpoint - The real estate market is experiencing a weak recovery trend, with new home transactions expected to rebound slightly in September due to increased supply and discounts, but overall growth remains limited due to weak consumer confidence and spending [1][22]. Market Performance - In August, the average opening sales rate in 30 key cities reached 42%, an increase of 12 percentage points month-on-month and 16 percentage points year-on-year, marking a return to the year's high [2][21]. - Cities like Chongqing, Changsha, Chengdu, and Hangzhou saw sales rates exceeding 60%, driven by the introduction of popular new projects [4][21]. City-Specific Trends - Major cities such as Shanghai and Shenzhen showed stable increases in sales rates, while second-tier cities like Wuhan and Nanjing continued their weak recovery [4][21]. - In contrast, weaker second and third-tier cities like Qingdao and Foshan experienced sales rates below 20%, indicating ongoing market sluggishness [4][21]. High-Quality Projects - New regulations and high-quality projects have positively impacted short-term market heat, with premium properties outperforming traditional projects in sales rates [9][21]. - Notable high-performing projects in August included those in Chengdu, Chongqing, and Nanjing, which achieved high sales rates due to their strong product offerings [10][11]. Luxury Market Dynamics - The luxury market in cities like Shanghai, Hangzhou, and Ningbo has seen increased activity, with flagship projects experiencing strong demand and high sales rates [13][21]. - For instance, the Shanghai One project achieved a remarkable sales performance, with multiple rounds of sales quickly selling out [14][21]. Discount Strategies in Weak Markets - In weaker markets, such as Xi'an and Wuhan, developers have resorted to discount strategies to boost sales, with significant price reductions leading to improved sales figures [18][21]. - Projects in these cities have implemented various promotional strategies, including special pricing and increased commission for sales channels, to enhance market performance [19][21]. Future Outlook - The market is expected to continue its weak recovery in September, with traditional marketing peaks and increased supply potentially aiding new home sales, although overall growth is anticipated to remain limited [22]. - The differentiation between cities and projects will persist, with core cities likely to maintain high market activity while weaker cities may struggle unless they offer compelling value propositions [22].

Summary of Real Estate Market Conference Call Industry Overview - The real estate market remains at a low level, with a year-on-year decline exceeding 30% [1][3] - Significant differentiation among companies, with only one-third of real estate firms achieving month-on-month growth [2][5] - The top ten firms, including China Overseas, Greentown, China Merchants, and Huafa, showed notable growth rates of 20% to 30% [2][1] Key Market Trends - Supply in first-tier cities has significantly decreased, with Beijing, Shanghai, and Shenzhen experiencing substantial declines [1][3] - Beijing's new supply was only 130,000 square meters, down over 30% month-on-month and nearly 70% year-on-year [3] - Shanghai's new supply was 310,000 square meters, with overall land market activity remaining sluggish [3] - Guangzhou's new home market remained relatively stable, benefiting from new regulations that accounted for 62% of new supply [12][1] - Shenzhen's transaction volume dropped significantly, with a month-on-month decline of 32% and a year-on-year decline of 50% [11][1] Sales Performance - In August, real estate sales continued to decline, with a month-on-month drop of 1.9% and a year-on-year drop of 17.6% [2] - Cumulatively, from January to August, the sales of the top 100 real estate firms fell by 13.1% [2] - The transaction volume in 30 key cities decreased by 12% month-on-month and 17% year-on-year in August [5][1] Policy Impact - The cancellation of purchase restrictions in Beijing on August 8 had limited effects, with transaction volumes remaining stable despite a 16% increase in visitor numbers [9][1] - New policies in Shanghai introduced on August 25 did not significantly stimulate the market, with only slight improvements in certain segments [10][1] - The overall market is still waiting for a significant policy breakthrough as current data shows no signs of recovery [21][1] Future Expectations - There is an expectation of a 30% to 50% increase in new supply in September, driven by development cycles [19][1] - The stability of core cities and new product regulations may provide some assurance for the market, but overall caution is advised [6][1] Inventory and Market Dynamics - The inventory situation varies, with some cities like Changsha and Wuhan showing high turnover rates due to unique project designs [25][1] - The overall inventory in Wuhan is approximately 15 million square meters with a 21-month turnover cycle, while Changsha has about 5 million square meters with an 18-month cycle [30][1] Conclusion - The real estate market is characterized by significant challenges, including declining sales, reduced supply, and limited policy effectiveness. However, certain firms and cities are showing resilience, indicating potential areas for investment and recovery in the future.

Summary of Key Points from the Conference Call Industry Overview - The real estate market in August is overall sluggish, with transaction area in 30 key cities decreasing by 12% month-on-month and 17% year-on-year, only slightly above the levels seen during the Spring Festival [1] - The supply volume is at a near seven-year low, with a month-on-month decrease of 28% and a year-on-year decrease of 36% [1][5] - The top 100 real estate companies experienced a general decline in sales, but leading firms like Greentown, China Overseas, and Huafa saw month-on-month sales growth exceeding 30%, supported by core cities and high-end projects [1][2] Sales Performance - In August, the sales amount of the top 100 real estate companies decreased by 1.9% month-on-month and 18% year-on-year, with a cumulative year-on-year decrease of 13.1% [2] - There are significant disparities among the top 100 companies, with leading firms relying on high-end projects in core cities, while many companies outside the top 20 are seeing continuous sales declines [3] Market Dynamics - The first-tier cities' new housing market is undergoing a comprehensive adjustment, with transaction volumes experiencing greater declines than second and third-tier cities [1][13] - The average opening sales rate in the 30 key cities in August was approximately 41%, an increase of nearly 11 percentage points month-on-month and nearly 15 percentage points year-on-year [18] - The supply in first-tier cities has been decreasing for four consecutive months, with significant declines in Beijing, Shanghai, and Shenzhen [5][6] Regional Insights - Guangzhou is the only first-tier city with a month-on-month increase in supply, with over 400,000 square meters supplied in August [7] - Second and third-tier cities are in an adjustment phase, with an overall month-on-month transaction decrease of 11% and a year-on-year decrease of 16% [15] - Some cities like Chengdu, Qingdao, Tianjin, Xi'an, and Wuhan still recorded monthly transaction volumes exceeding 400,000 square meters [16] Policy Impact - New policies in Beijing have stimulated an increase in visitor numbers, with a 16% rise in visits, while the effects of Shanghai's policies have yet to be seen [13][14] - The supply-demand ratio has decreased to 0.69, indicating a significant drop in market activity, with many cities experiencing increased inventory pressure [22][23] Future Outlook - A low recovery in transaction volumes is expected in September, driven by the traditional peak season and policy relaxations in first-tier cities [29] - The market is anticipated to see a gradual recovery, but significant reversals are unlikely due to ongoing economic pressures and consumer confidence issues [34] Additional Insights - The land market has cooled down, with fewer core and quality plots being offered, leading to a seasonal low in overall transaction volume [26][28] - The performance of new regulatory products is declining, with significant disparities in sales rates among different projects [21] This summary encapsulates the critical insights from the conference call, highlighting the current state of the real estate market, sales performance, regional dynamics, policy impacts, and future outlook.