新华财经上海10月9日电 在9月全国房地产市场呈现"新房结构性上涨、二手持续调整、租赁热度降温"的背景 下，上海作为核心城市的市场韧性持续凸显。中指研究院最新发布的数据显示，9月上海新建住宅价格环比上涨 0.82%，不仅在全国百城中位居首位，更带动十大城市新房价格均值实现0.38%的环比增长；二手住宅价格虽环 比下跌0.48%，但跌幅在十大城市中处于较低水平，市场"以价换量"节奏相对平稳；租赁市场则随全国趋势小幅 调整，平均租金环比下跌0.26%，整体表现优于多数重点城市。 展望四季度，多位受访专家认为，上海楼市大概率会延续"新房稳中有升、二手逐步筑底、租赁平稳运行"的态 势。长期来看，上海在人口、产业、配套等方面的优势将持续为房地产市场提供支撑，"好城市+好房子"的市场 机会将更加凸显，上海楼市的韧性与成长性有望在未来一段时间内持续领先全国主要城市。 新房价格环比领涨百城优质改善型项目持续入市 从新建住宅市场来看，上海9月的表现尤为突出。中指研究院数据显示，9月上海新建住宅平均价格达到60690元 ／平方米，样本价格中位数为56000元／平方米，环比涨幅0.82%，这一涨幅不仅远超全国百城新建住宅0.09% ...

更多政策解读、城市月报、房企研究报告...... Q 就在 中指云 特别声明:房地产企业销售数据、项目销售数据、商品住宅市场数据统计均是以 2025年 1 月 1 日-8 月 28 日期间商品房合同销售额为统计口径，主要依据中指数据 CREIS（点击查看）在上海的销售监数 据;对于少数未在监测范围内的项目,由企业提供相关证明文件,经课题组对数据进行严格审核,纳入 25 年 1-8 月 , 上 海 房 地 产 销 售 业 绩 T OP20 企 业 合 计 销 售 2777.9 亿元； 销售面积 TOP20 企业 合 计 销 售 387.9 万 平 。 销 售 额 突 破 百 亿元的房企有 12 家，其中保利发展、招商蛇口、华润置地分别以 310.7 亿元、 298.7 亿元和 261.7 亿元获得销售金额榜前三名； 销 售面积榜达到 20 万平以上的房企有 6 家， 招商蛇口、保利发展、 华润置地分别以 51.1 万平、42.1 万平和 30.9 万平获得前三名。 2025 TOP20 RE READ t 2 2025 年 1-8 月上海房地产企业销售业绩 TOP20 2025 年 8 月 ， 上 海 新 房 ...

前言 上海内中环新房市场持续高热，多个楼盘认购率超预期。 位于长宁内中环的和樾长宁项目首开售罄后，二批次均价约12.88万/㎡再度入市，其创新户型与国际社 区定位备受高端买家青睐。 与此同时，浦东新杨思板块的翡雲悦府凭借低密叠墅产品，五个月内销售额突破126亿元，折射出内中 环地段稀缺性与产品力正成为市场主导因素。 产品亮家底，实景赢好感 上海楼市最近出了个大新闻！ 八月底出的"沪六条"新政，让外环外的房子火了一把，取消了限购嘛。 但有意思的是，政策没直接松绑的内中环，有个新盘却悄悄火了。 静安大宁的中建新小区，首开推出140套房，均价14.68万/㎡，愣是吸引了185组多客户认筹，认购率超 过143%！这热度，可不一般。 它的"硬货"也确实足。 外立面用的是高级的UHPC材料和温润的陶板；层高做到约3.5米，空间感非常敞亮；装修标准直接向一 线顶豪看齐，厨房是嘉格纳的，卫浴是劳芬的。 更吸引人的是那个约3000㎡的下沉庭院会所，恒温泳池、健身房、私宴厅一应俱全，感觉回家就像进了 高端酒店。 再加上它还是全国首批零碳社区项目，打着"好房子"的标签，这些高科技、环保的概念，现在很对高端 改善客户的胃口。 当然， ...

Core Viewpoint - The Shanghai real estate market is experiencing a temporary sales decline due to insufficient new supply, but recent policy adjustments are expected to boost market expectations and stabilize sales [1][13]. Market Performance - From January to August 2025, the top 20 real estate companies in Shanghai achieved a total sales revenue of 277.79 billion yuan and a sales area of 3.879 million square meters [2][3]. - The top three companies by sales revenue were Poly Developments (31.07 billion yuan), China Merchants Shekou (29.87 billion yuan), and China Resources Land (26.17 billion yuan) [2][3]. - The top 20 companies in terms of equity sales revenue totaled 178.81 billion yuan, with Poly Developments leading at 21.34 billion yuan [4][5]. Project Sales - The top 10 residential projects in Shanghai generated a total sales amount of 82.36 billion yuan, with Shanghai One No. 1 leading at 18.42 billion yuan [6][7]. - The total sales area for the top 10 projects was 726,000 square meters, with Shanghai One No. 1 also leading in this category [7][8]. Transaction Data - In the first eight months of 2025, the total transaction area for residential properties (excluding affordable housing) in Shanghai was 3.6875 million square meters, with 30,082 units sold [11]. - In August 2025 alone, the transaction area was 213,500 square meters, with 1,748 units sold [11]. Land Market - In the first eight months of 2025, Shanghai launched a total of 8.8861 million square meters of land for various uses, with 8.4369 million square meters successfully transacted [12]. - No residential land was launched or transacted in August 2025 [12]. Market Outlook - The recent policy adjustments in Shanghai are expected to significantly alleviate sales pressure in the outer ring market, benefiting companies operating in that area [13].

Core Insights - The real estate market in Shanghai shows resilience, with new home prices experiencing a seasonal decline but at a slower rate compared to the previous year, indicating a narrowing year-on-year decline [1] - In July 2025, the average sales price of new residential properties in first-tier cities decreased by 0.2% month-on-month and 1.1% year-on-year, while Shanghai's prices increased by 0.3% month-on-month and 6.1% year-on-year [1][11] - The average transaction price of new homes in Shanghai for the first seven months of 2025 was 80,800 yuan per square meter, reflecting a 5% increase from 2024 [2][11] Market Performance - The price increase in Shanghai is driven by strong performance in key districts such as Xuhui, Huangpu, and Pudong, with Pudong experiencing the highest price increase of 22% [2][11] - Specific districts like Xuhui Longhua and Huangpu Yuyuan have shown significant price appreciation, with Xuhui Longhua's prices increasing over 30% compared to 2024 [4][11] Project-Level Insights - High-end projects in core areas are supporting price increases, with luxury new launches maintaining price growth of over 10% [6][11] - Notable projects such as "Hai Shang Qing He Xi" and "Poly Expo Tianyue" have seen substantial price increases, contributing to the overall market strength [6][7] Peripheral Market Trends - Some projects in peripheral areas, like Jinshan New Town and Pudong Lingang New Town, have also seen price increases due to product advantages, with certain projects achieving over 10% price growth compared to 2024 [9][10][11] - Overall, the Shanghai new home market is expected to continue its upward trend, although the rate of increase may slow down [11]

今年7月举行的上海六批次土拍中，一共出让8宗地，光刷新板块地价的就有6宗。各家房企轮番厮杀， 华润置地（01109.HK）克制地报名了3宗地块，且仅有一宗地块是独立参与的，最终颗粒无收。但没过 几天，华润置地还是通过股权交易亮剑了上海土地投资。 宣布拿地即开工，华润置地在上海的开发节奏为何如此紧凑？ 后滩板块这两宗宅地，是该区域体量最大的纯宅地，将提供2060套房源，限高分别为80米和100米，项 目部分中高层房源可以看江景。除了房企常规的年中拿地，赶在年底前启动销售， 便可以形成现金流 之外，从上海今年的土地出让方式变化及华润置地在上海布局来看，或更能感受该公司的投资战略变 化。 今年以来，上海迎来多宗重磅地块，均是以先协议出让给上海国企，再通过上海联合产权交易所转让， 与某奢侈品牌"配货"售卖模式有异曲同工之妙，且"跨区配货"渐多，常见杨浦配虹口。此次华润置地联 合体以近245亿元拿下的地块包含多个项目标，配货不仅跨区还跨江，2宗在浦东后滩板块耀华路上钢社 区，6宗在浦西黄浦余庆里，毗邻金陵华庭。 浦东的后滩板块在上海中央活动区（CAZ）范围之内，靠近内环，业内习惯称之为"内中环"。目前，浦 东内中环仅剩 ...

Core Viewpoint - The article highlights the strategic move by China Resources Land to acquire a significant land package in Shanghai, demonstrating a calculated approach amidst a competitive land auction environment, ultimately positioning the company for future growth and influence in the real estate market [1][5][27]. Group 1: Land Acquisition Details - China Resources Land, in partnership with South Housing Group, secured a land package in Shanghai valued at approximately 244.7 billion, marking it as the highest single transaction in Shanghai and nationwide since 2025 [1][4][3]. - The total expenditure for the eight land parcels auctioned in Shanghai was 289.57 billion, with China Resources Land's acquisition being a substantial portion of this total [2][3]. - The acquired land includes two residential plots in the prime area of Pudong's Houtan, expected to yield 2,060 housing units, and a significant plot in Huangpu, enhancing the company's portfolio in high-demand locations [12][21]. Group 2: Market Context and Strategy - The article notes a shift in Shanghai's land sales strategy, moving towards a model resembling luxury brand allocation, where prime land is selectively distributed to major developers rather than through open bidding [5][6]. - China Resources Land's approach reflects its status as a leading state-owned enterprise, focusing on long-term value and market leadership rather than immediate profit maximization [28][34]. - The company has a strong financial position, having surpassed competitors in profitability, which enables it to undertake large-scale investments without immediate concerns about cash flow [34][36]. Group 3: Future Implications - The acquisition is seen as a pivotal moment for the development of the Houtan area, potentially revitalizing the region and setting a precedent for future projects [12][19]. - The strategic partnership with South Housing Group is expected to enhance operational efficiency and project execution, leveraging both companies' strengths in the competitive Shanghai market [30][27]. - The anticipated development of the acquired plots is projected to significantly increase China Resources Land's market presence and influence in Shanghai, aligning with its broader corporate strategy [29][33].

Core Insights - The article highlights the performance of real estate companies in Shanghai for the first half of 2025, showcasing significant sales growth compared to the previous year [9][10]. Sales Performance - The total sales amount of the top 20 real estate companies in Shanghai reached 256.06 billion yuan, representing a year-on-year increase of approximately 35% compared to the first half of 2024 [9]. - Twelve companies surpassed 10 billion yuan in sales, with Poly Developments, China Resources Land, and China Merchants Shekou leading the rankings, each exceeding 24 billion yuan [9][10]. - The total sales area for the top 20 companies was 2.996 million square meters, up about 10% year-on-year [9]. Company Highlights - Poly Developments topped the sales rankings due to its strong land reserves and product offerings, successfully launching several high-demand projects in key areas like Yangpu [9][10]. - China Resources Land combined area operation experience with TOD development practices, achieving significant sales in the Baoshan district [10]. - China Jinmao entered the top 15 in sales amount and ranked 8th in sales area, with its "Jin Yu Man Tang" product line gaining traction [10]. - Yuexiu Property's rapid rise is attributed to its focus on high-end improvement demands, successfully launching over 10 premium projects in core urban areas [10]. Market Trends - The Shanghai real estate market in the first half of 2025 exhibited characteristics of "volume decline and price increase" with a notable contraction in both supply and demand [11]. - The supply area of commodity residential properties decreased by 37% year-on-year, while transaction area fell by 8.4%, although the decline was less severe than the national average [11]. - The average transaction price for new homes reached 80,668 yuan per square meter, reflecting a year-on-year increase of 2.35% [11]. Project Performance - In June 2025, 155 openings were recorded across 103 projects, with an average absorption rate of nearly 50% [11]. - Notably, 15 projects had a subscription rate exceeding 100%, with five projects surpassing 200%, indicating strong market recognition for high-quality offerings [14]. - The top-performing project, Fei Huan Yue Fu, achieved a remarkable subscription rate of 288% [14].

Core Insights - Shanghai's housing prices have increased again, leading the nation in growth [1][3] - The overall new housing sales in China have decreased by 5.5% in the first half of 2025, with residential sales down by 5.2% [3] - Shanghai's new housing prices have shown a significant year-on-year increase of 5.8%, marking the longest continuous rise in the country [3][4] Sales Performance - In the first half of 2025, new residential sales in Shanghai reached 44,241 billion yuan, with a notable decrease in sales volume [3] - The average price of new homes in Shanghai has reached 991 million yuan, nearing the 1 billion yuan mark [6] - The top ten projects in terms of sales area in Shanghai predominantly feature luxury properties priced at 100,000 yuan per square meter [6][7] Price Trends - In June, new housing prices in Shanghai increased by 0.4% month-on-month, ranking first alongside Changsha [4] - Conversely, the second-hand housing prices in Shanghai decreased by 0.7% month-on-month, maintaining the same decline as the previous month [4] - Year-on-year, second-hand housing prices in Shanghai fell by 1.3%, the smallest decline among major cities [5] Market Dynamics - The demand for new homes in suburban areas has significantly weakened, with some projects experiencing a sales cycle extending beyond 24 months [8] - Analysts predict that luxury properties will continue to drive average prices upward, while second-hand housing prices may remain stable or slightly decline without additional policy support [8][9] - The second-hand housing market in Shanghai is showing signs of a slowdown, with a 3.15% decrease in transactions in June compared to the previous month [9]

Core Insights - The high-end real estate market in China has shown resilience in the first half of the year, with a notable stabilization in sales after a period of decline [1][14] - Shanghai continues to dominate the high-end market, accounting for a significant share of transactions in the 30 monitored cities [4][14] Sales Performance - The total sales volume of new homes in 30 key cities remained stable compared to the same period last year, while high-end residential sales (priced above 10 million yuan) increased by 17.31% year-on-year [1][14] - Sales of high-end properties priced above 30 million yuan decreased by approximately 15%, with 1,846 units sold in the first half of the year [1] - The number of transactions for properties priced above 50 million yuan surged, with a year-on-year increase of 50.3% [2] City-Specific Trends - In the first half of 2023, Shanghai accounted for 59.4% of new high-end residential sales above 30 million yuan and 46.2% of second-hand sales in the same price range [4][6] - The top five projects by transaction value were all located in Shanghai, highlighting the city's strong market position [7] Price Segment Analysis - The number of transactions for high-end properties priced above 10 million yuan increased by 34% year-on-year, with Shanghai contributing significantly to this growth [8][9] - Properties priced between 10 million and 15 million yuan saw a 62% increase in sales, while those priced above 20 million yuan also experienced a 24% increase [12][13] Market Outlook - The high-end market is expected to maintain its momentum in the second half of the year, driven by continued demand for scarce assets in core cities [14] - The "sales-driven production" model suggests that developers will remain active in launching high-end properties, although supply constraints may push some buyers towards the second-hand market [14]