更多政策解读、城市月报、房企研究报告 ..... 就在 > 中指云 O 中国房地产指数系统百城价格指数报告 (2025年12月) "百城价格指数" 12 月百城销售均价: 新建住宅环比上涨 0.28%，同比上涨 2.58%; 二手住宅环比下跌 0.97%，同比下跌 8.36%: 50 城租赁均价: 普通住宅环比下跌 0.60%，同比下跌 3.62% 中指研究院报道：根据中国房地产指数系统百城价格指数 '对全国 100 个城市新建、二手住宅销 售市场及 50 个城市租赁市场的调查数据，12 月，全国 100 个城市新建住宅平均价格为 17084 元/ 平方米，环比上涨 0.28%。从涨跌城市个数看，26 个城市环比上涨，68 个城市环比下跌，6 个城市 持平。同比来看，令国 100 个城市新建住宅平均价格同比上涨 2.58%。全国 100 个城市二手住宅平 均价格为 13016 元/平方米, 环比下跌 0.97%, 跌幅较上月扩大 0.03 个百分点。从涨跌城市个数看, 100个城市二手住宅价格环比均下跌。同比来看，全国 100 个城市二手住宅平均价格同比下跌 8.36%。 市环比上涨, 49 个城市环比下跌。 ...

Group 1: Housing Policies and Developments - Beijing has officially released its 2025 third batch of affordable housing construction and collection plans, which includes 9 new projects with 3,241 units, 1 collection project with 123 units, and 2 completed projects with 1,857 units [1] - In 2025, Beijing aims to construct approximately 67,000 rental housing units, achieving 135% of its annual target of 50,000 units, and complete nearly 100,000 units of various types of affordable housing, reaching 125% of its annual target of 80,000 units [1] Group 2: Mortgage Rate Adjustments - Shanghai's housing provident fund management center announced a reduction in the interest rates for outstanding personal housing provident fund loans, effective from January 1, 2026, with rates for first-time homebuyers set at 2.1% for loans under 5 years and 2.6% for loans over 5 years [2] - The adjusted rates for second-time homebuyers will be 2.525% for loans under 5 years and 3.075% for loans over 5 years, with the changes applied automatically without borrower applications [2] Group 3: Real Estate Market Trends - According to the China Index Academy, the total land acquisition amount for the top 100 enterprises in 2025 is projected to reach 964 billion yuan, reflecting a year-on-year increase of 3.9% [4] - The land acquisition trend shows a "high at the beginning and low at the end" pattern, with a significant increase of over 30% in the first three quarters, followed by a decrease in the fourth quarter due to reduced land auction activities [4] - The top ten enterprises in land acquisition are predominantly state-owned enterprises, although private real estate companies are showing increasing enthusiasm, with several private firms making it into the top 30 by acquisition amount [4] Group 4: Housing Price Trends - The average price of newly built residential properties in 100 cities is expected to rise by 2.58% in 2025, with quarterly increases of 0.52%, 0.64%, and 0.47% in the first three quarters [5] - In the fourth quarter, the accelerated market entry of high-end properties in core cities contributed to a cumulative price increase of 0.93% [5]

而从目前的实际情况来看，新房价格看似出现了上涨，上涨幅度达到2.58%，显示出购买新房的热度提 升。但是，二手房价格却出现了8.36%的下跌，跌幅远高于新房价格涨幅。很有可能是，改善性需求没 有释放，无房者购房热情也没有出现。 更重要的，新房价格上涨，主要是前期新房价格跌幅过大，原本只想买二手房的居民，可以购买新房 了。虽然这也是房地产市场所需要的，但无法体现房地产市场回暖的趋势，居民购房的热情，总体仍然 较差。 中国新闻网1月2日报道，中指研究院2026年1月1日发布的数据显示，2025年12月份，全国100个城市新 建住宅平均价格为每平方米17084元(人民币，下同)，环比上涨0.28%；同比上涨2.58%。当月，100个城 市二手住宅平均价格为每平方米13016元，环比下跌0.97%；同比下跌8.36%。 新建住房价格上涨，二手房价格下跌，看似一涨一跌，市场已经趋于平稳，实际还存在一定的下行风 险。 必须看到，在现行房地产市场，二手房价格的变动情况，比新房价格变动更为重要，更能体现房地产市 场的平稳状况。如果二手房市场价格仍然没有平稳，预示着房地产市场的波动依然，且二手房价格波动 越大，房地产市场的稳定 ...

北京商报讯（记者 李晗）2026年1月1日，中指研究院发布数据显示，2025年百城新建住宅价格累计上 涨2.58%。分季度来看，前三季度累计分别上涨0.52%、0.64%、0.47%。进入四季度，部分核心城市高 端楼盘入市节奏加快，带动价格累计上涨0.93%。 ...

更多政策解读、城市月报、房企研究报告 ..... 就在 > 中指云 O 中国房地产指数系统百城价格指数报告 (2025年11月) 政策方面,11 月 21 日,住建部召开全国城市更新工作推进会,指出"要认真贯彻落实《中共中 央办公厅 国务院办公厅关于持续推进城市更新行动的意见》，因地制宜、探索创新,着力在规划、 资金、运营、治理 4 个方面下功夫"。预计城市更新各项新机制将进一步加快建立，配套的金融、财 税、土地等支持政策也有望加速落位。地方层面,杭州、成都、天津滨海新区等多地推动盘活存量 资源，其中杭州公开征求《杭州市临时改变房屋用途实施细则》意见，为临时改变房屋用途落地操 作细则;佛山优化境外个人购房条件;重庆、佛山等地优化公积金贷款政策,从提高贷款额度、优 化"商转公"、优化灵活就业缴存等方向优化调整。月末北京发布"十五五"规划建议，提出"持续推进 住有所居。加快构建房地产发展新模式，完善"市场+保障"的住房供应体系、租购并举的住房制度"。 另外，11 月重庆、湖北等省市发行近 350 亿元专项债券收回收购闲置存量土地，其中湖北、辽宁等 多个为非"自审自发"地区相继发行专项债券。 从市场表现来看，新建住 ...

智通财经APP获悉，中指研究院数据监测：2025年11月百城二手住宅均价为13143元/平方米，环比下跌0.94%，跌幅较上月扩大0.1个百分点，同比下跌 7.95%，在高挂牌量及预期偏弱影响下，二手房价格下行压力有所加大。新房方面，11月，市场供应整体仍在低位，上海、成都、杭州等城市均有高端改善 项目入市，带动核心城市新建住宅均价上涨，进而推动百城新建住宅价格环比保持结构性上涨，百城新建住宅均价为17036元/平方米，环比上涨0.37%，同 比上涨2.68%。 租赁住宅方面，11月住房市场进入传统淡季，50城住宅平均租金为34.36元/平方米/月，环比下跌0.60%，同比下跌3.57%。 分梯队看，二手住宅方面，11月，一线、二线及三四线城市二手住宅价格环比分别下跌1.15%、0.98%、0.81%，同比分别下跌5.62%、8.24%、7.47%，较上 月跌幅均有所扩大。 | 城市 | 成交套数(套) | 同比(%) | 成交面积(万m2) | 同比(%) | | --- | --- | --- | --- | --- | | 南昌 | 25278 | 32.0% | 268.99 | 31.5% | | ...

Investment Rating - The investment rating for the real estate industry is "Positive" and maintained [10] Core Insights - The central economic work conference's statements regarding real estate provide important clues for understanding next year's industry policies. The policy goals continue to focus on risk prevention and market stabilization, with the potential for policy windows to open as thresholds approach. Inventory reduction may involve traditional demand support measures and tools like old renovation or storage. Supply optimization aims to enhance the quality of new residential buildings. The reform of the housing provident fund system may involve higher-level considerations beyond basic aspects like withdrawal, limits, and interest rates [2][8] - The policy goal of stabilizing the market has significantly boosted market expectations, but since April, marginal downward pressure has increased. The probability of easing industrial policies is gradually rising, and the pace of implementation is merely a timing issue. The rapid decline in industry volume and price may have passed, with structural highlights in core areas and quality properties. The current stock prices of quality real estate companies are not far from their bottom, providing room for rebound as market valuations rise. Emphasis should be placed on quality real estate firms with low inventory, good locations, and product strength, as well as stable cash flow from leading brokerage firms, commercial real estate, and state-owned property management companies [4][8] Market Performance - This week, the Yangtze River Real Estate Index decreased by 2.55%, with an excess return of -2.47% relative to the CSI 300, ranking 29th out of 32 industries. Year-to-date, the real estate index has increased by 3.87%, with an excess return of -12.55% relative to the CSI 300, ranking 27th out of 32 [5][14] - The performance of the real estate sector was poor this week, primarily driven by declines in development-related stocks, while property management and rental stocks showed mixed results [5] Policy Developments - The central economic work conference emphasized city-specific policies to control increments, reduce inventory, optimize supply, and deepen the housing provident fund system reform. It aims to stabilize the real estate market and encourage the acquisition of existing properties for affordable housing [6][16] - Local policies include Shenzhen's optimization of housing provident fund withdrawal regulations, allowing full withdrawals for families with one property and 60% for those with two. Shandong has introduced a housing "old-for-new" program, including three models: selling old for new, exchanging old for new, and demolishing old for new [6][16] Sales Data - This week, the sample cities' new housing transaction area saw a four-week rolling year-on-year decline of 45.6%, while second-hand housing transactions dropped by 28.6%. Year-to-date, new housing transaction area has decreased by 15.8%, while second-hand housing has increased by 4.2% [7][17] - As of December 12, the new housing transaction area in 37 cities showed a month-on-month decline of 41.7%, while second-hand housing transactions decreased by 36.3% [7][17]

从政策效果来看，南京雨花台区2024年6月政策落地，次月新房成交套数/成交面积环比分别增长17.5%/15.0%；武汉9 月末政策落地，次月新房成交套数/成交面积环比分别增长18.7%/15.7%，贴息政策落地后，短期市场活跃度出现回升 态势。 表：部分城市住房贷款贴息政策主要内容 | Hallel | 城市/地区 | 電雙內容 | | --- | --- | --- | | 2023.12.1 | 杭州临平区 | 购房人通过贷款(含公积金贷款、商业贷款和组合贷款) 购买临 | | | | 平区新建商品住房（以网签为准）,并选择公积金贴息平台申请 | | | | 贴息的,对实际贷款的贷款给予贴息补助;贷款金额超过100万元 | | | | 的按照100万元金额给予贴息补助,因正常还贷造成贷款余额少于 | | | | 100万元的,按实际贷款余额给予相应比例贴息补助;补贴期限为 | | | | 36个月，贷款实际发放月为贴息起始月。 | | 2024.6.19 | 南京市府化 台区 | 购买雨花台区新建商品住房且建筑面积≤90平方米的,按贷款金 | | | | 额给予2%财政贴息(最高贴息4万元/年）,贴息期为 ...

2025.12. 01 本文字数：2329，阅读时长大约4分钟 作者 | 第一财经 孙梦凡 新房价格结构性微涨、二手房价持续盘整......刚刚过去的11月，楼市行情还在分化。 据机构最新统计数据，11月全国百城新建住宅平均价格为17036元/平方米，环比上涨0.37%，同比 上涨2.68%；百城二手住宅平均价格为13143元/平方米，环比下跌0.94%，二手房价已环比连跌43 个月，同比下跌幅度为7.95%。 成交层面，重点城市如上海、深圳、杭州等地，11月新房、二手房成交环比都出现不同程度上涨， 同比则在高基数下出现下滑。业内认为，年末房企进入业绩冲刺阶段，新房成交量有望实现翘尾，二 手房受挂牌量较高等因素影响，价格仍处"博弈期"。 新房二手房价格分化 楼市11月整体运行情况出炉。 12月1日下午，中指研究院举行的分享会显示，刚刚过去的11月，全国100个城市新建住宅平均价格 为17036元/平方米，环比上涨0.37%，同比上涨2.68%。 从涨跌城市看，11月共31个城市新建住宅价格环比上涨，64个城市环比下跌，5个城市持平。上 海、成都、杭州、宁波新房价格环比涨幅位居前列，分别为1.39%、1.34% ...

北京商报讯（记者 王寅浩 李晗）12月1日，中指研究院发布数据显示，11月，全国100个城市新建住宅 平均价格为17036元/平方米，环比上涨0.37%。从涨跌城市个数看，31个城市环比上涨，64个城市环比 下跌，5个城市持平。同比来看，全国100个城市新建住宅平均价格同比上涨2.68%。 ...