中指市场形势及企业研究成果分享会
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会议摘要
High-quality plots and product innovation in core cities have become the key to the development of housing enterprises. The market shows a trend of head enterprises sticking to it and waist enterprises shrinking. Policy orientation and regional differentiation are significant. High-end improved residential buildings such as Jin Maoman Lake project stand out by virtue of scarcity and scientific and technological design. With the support of policies in July, the market gradually recovered but the differentiation intensified. Core cities and high-quality resources are still the focus of the industry.
会议速览
The sharing session focused on the real estate market dynamics in July, analyzed the policy impact and future trends, emphasized the continuation of the tone of the stable property market, the importance of real estate as the focus of expanding domestic demand, predicted the trend of policy easing in the second half of the year, and focused on the monetary, fiscal side and consumption optimization.
The local level actively introduced policies to stabilize the real estate market, the second quarter of the monthly policy introduction frequency is more than 100, mainly around the provident fund loan amount to increase, the scope of application to expand the optimization of residents home end. The provident fund policies in Beijing, Shanghai, Shenzhen and other places have been optimized many times. Beijing still has room for optimization. It is expected that more cities will follow up similar policies in the future.
The report pointed out that as of the end of July, many places across the country had used central stations to purchase land, with a total amount of more than 800 billion yuan, of which 400 billion yuan was actually issued. Although the second-hand housing market as a whole fell, but the decline narrowed, Shanghai and other first-tier cities performed better. The new housing side is affected by high prices, prices rose month-on-month, turnover remained relatively stable, first-tier city sales resilience is strong.
This paper analyzes the performance of the real estate market in Beijing, Shanghai, Guangzhou and Shenzhen from January to July, and points out that the new housing market is stable as a whole, the second-hand housing market is highly active, and the new housing market in Shenzhen is under great pressure, but the transaction volume in July has increased significantly. At the same time, the rental market demand continued to release in July, the average rent in key monitoring cities rose month-on-month, and rents in Beijing, Shanghai, Shenzhen and other school-intensive cities continued to rise.
From January to July 2023, China's land market continued to shrink, with residential land transaction area falling 23% year-on-year and transfer fees falling 28%. The year-on-year decline in transaction area and transfer fees in first-tier cities is small, showing signs of marginal improvement. The entry of high-quality land into the market has a marginal improvement in the transfer fee, but the overall trend is still downward. Shanghai, Hangzhou and Beijing are among the top in the ranking of transfer fees, with obvious market differentiation and more focus on land acquisition by real estate enterprises.
In the land market in July, real estate companies concentrated on high-quality land acquisition in core cities such as Shanghai and Beijing, such as high-priced land in Yangpu District of Shanghai and Chaoyang District of Beijing, highlighting the importance of land and landscape resources. Policy to stabilize the tone of the market, accelerate the housing consumption support policy landing, focus on the provident fund and other short-term policies to increase the code, emphasize the revitalization of village land and commercial housing, speed up the central income land process, in order to boost market confidence.
The new housing market is in the repair stage, the core city turnover is active, but most cities due to large inventory and price factors of cold transactions, market differentiation intensified. Second-hand housing prices by transaction activity, listing volume and residents' confidence, short-term may maintain shock finishing, policy strength will determine the follow-up trend.
The report provides a detailed explanation of the overall downward trend and narrowing of the decline in sales performance of real estate companies in July 2020, pointing out the impact of increased market activity in core cities and low base effects. At the same time, it analyzes the outstanding performance of head enterprises due to precise layout and product innovation, as well as the phenomenon that the number of waist enterprises decreases due to the intensification of industry reshuffle. Finally, the common logic behind hot-selling projects is emphasized, including scarce resources, product innovation, precise customer positioning and systematic marketing capabilities.
In the first half of 2023, the total amount of land taken by 100 key real estate companies fell by 27.6 year-on-year, but the decline narrowed for five consecutive months. Central state-owned enterprises are still the main force of land acquisition, Poly Development, China Resources Land and other large central state-owned enterprises to take the amount of land in the forefront. The enthusiasm of private enterprises to acquire land has increased, mainly concentrated in Hangzhou, Shanghai and other economically developed areas, such as Binjiang Group, Dahua Group and so on. The Yangtze River Delta urban agglomeration is active in land acquisition, and local governments have launched scarce plots to promote competition for high-quality plots.
It shared the successful experience of the North Longhu high-end improvement project, emphasized the scarcity of real estate built near the lake, analyzed the logic of the project from land acquisition to hot sales, including the development strategy of geographical location advantages, educational resources supporting and production-city integration, and demonstrated the charm of North Longhu as the gathering place of the Central Plains spire.
This paper introduces the four projects developed by Jin Mao in Beilong Lake, including Jin Mao Fu, Ruyi Fu, Yunhu Lake and Manhu Lake. It focuses on the 3.6 billion sales of Yunhu Lake in four months, as well as the location advantages and sales situation of Manhu Lake project. It emphasizes that the project is located in the core of the central axis of Beilong Lake, surrounded by subways, schools and commercial facilities.
This paper introduces that the economic and trade brand is supported by Sinochem Group and the product series will be upgraded in 2024. It focuses on the Manhu project, which covers an area of 81 mu, 18 buildings, 1.49 floor area ratio, 160 meters of landscape axis and 199 square meters of clear lake products. It is located in a superior position and built near the lake.
In 2024, a handed down residential product takes the double-line linkage design as the core, integrates the international model and the oriental rhyme, and invites many masters to jointly build it. The project covers architectural planning, landscape design, interior decoration, etc., using oriental aesthetic elements such as paper-cutting, weaving, jade carving, etc., to create an immersive homecoming ritual. The residential design pays attention to return to the original nature and provides healing scenes. The facade adopts four columns and eight eaves and a large area of glass curtain wall to construct a living space combining modern and traditional.
Inspired by the Amman Hotel, the project creates insensitive gardens suitable for all seasons, including spring spring spring, summer stream, autumn bridge, winter valley and other landscapes. For the first time, a canyon waterfall is realized in Beilonghu, with a double-decker club to meet the leisure and entertainment needs of the whole age.
This paper introduces an innovative science and technology residence, which constructs twelve green gold science and technology systems by integrating six life elements of temperature, humidity, air, sunlight, water and sound. From intelligent temperature control to sound insulation and shock absorption, to the integration of the full replacement fresh air system with Huawei Hongmeng Smart Home, the all-round optimization of the living environment is realized, aiming to provide a healthier and more comfortable living space.
The sharing meeting focused on the innovative apartment design created by Jin Mao in Beilonghu, Zhengzhou, including 143, 169, 199 and other major apartment features, such as north-south transparency, Chinese and western double kitchens, housekeeping rooms, etc. At the same time, it introduces the surprise kitchen in cooperation with Fang Tai, emphasizing the storage system and humanized design, aiming to solve the pain points of the Central Plains family and enhance the living experience. In addition, it is also mentioned that Jin Mao has been deeply cultivated in Zhengzhou for nine years and is committed to providing long-term quality services.
要点回答
Q:In the past July, how is the policy landing intertwined with the market reaction, and what is the impact on the current real estate market? What are the important real estate market policies in the near future and what are their specific contents?
A:July is the key node of the intensive introduction of policies and market response, the central to local stable property market policy continued to increase, market confidence gradually repaired. In terms of policy direction, the Central Committee of the Chinese People's Political Consultative Conference emphasized the need to stabilize the real estate market, and macro policies will be effective, making full use of existing policy tools to cope with short-term economic pressure, and taking real estate as an important focus for expanding domestic demand. Therefore, the overall policy tone is to increase the monetary, fiscal and consumer policy optimization on the basis of stabilizing the property market. Recently, there are two key policies: one is that the Central Committee of the Chinese People's Political Consultative Conference clearly mentioned the need to stabilize the real estate market and incorporate it into the effective security barrier; the other is that in the 15th Five-Year Consumption Policy, housing consumption is listed as an important part of commodity consumption. The first item, real estate is an important focus of expanding domestic demand. The two policies show that stabilizing the real estate market and promoting its role in expanding domestic demand are the focus of the current policy.
Q:At the local level, what real estate policies have been introduced and how often?
A:At the local level, about 106 real estate policies were introduced in July, compared with 124 and 104 in June and May, maintaining a relatively high frequency. Since the second quarter, more than 100 policies have been issued every month, showing that local governments have actively made efforts to stabilize the real estate market, especially in the increase of provident fund loan quota and the expansion of the scope of application.
Q:What are the current CPF loan policy optimization direction and city examples?
A:The optimization of provident fund loan policy mainly focuses on increasing the loan amount and expanding the scope of application, such as Chengdu, Shenyang, Dalian and other places. Among them, Dalian has also introduced two sets of housing discount policy, giving a certain percentage of interest subsidies. Although Beijing has some optimization measures, there is still room for further optimization. It is expected that more cities will follow up such optimization measures in the future.
Q:What about land acquisitions at the central level?
A:As of the end of July, 28 provinces and cities across the country have publicly used central reserve land, with a total amount of more than 800 billion yuan, and the actual issuance is about 400 billion yuan, accounting for about 50%. First-and second-tier cities accounted for 36%, more concentrated in third-tier cities. The progress of land acquisition may also accelerate in the second half of the year.
Q:The current second-hand housing market price trend?
A:Second-hand housing market prices are still falling, but the decline has narrowed significantly. Since November last year, the number of second-hand housing listings in many cities has stabilized, and the price decline has shown a narrowing trend. Specifically, in July, the price of second-hand housing in Baicheng fell by 0.44 month-on-month, but the price of second-hand housing in Shanghai continued to rise month-on-month, while the new housing side was driven by high-priced or improved prices.
Q:What was the supply situation in the real estate market in July?
A:The supply scale of the real estate market in July showed a shrinking state, and the volume of new housing launches was not high, but the prices of the launched properties were relatively high, resulting in a month-on-month increase in overall new housing prices, which was larger than in June. The second-hand housing market performed relatively well, with stable transaction volume and year-on-year growth. In July, about 125000 units were sold, a year-on-year increase of 9%.
Q:Second-hand housing and new housing market activity contrast is how?
A:The second-hand housing market is more active than the new housing market. Although the second-hand housing transaction volume declined month-on-month, it maintained a year-on-year growth, and from the perspective of weekly transactions, the transaction volume continued to be stable and showed a growth trend. The new home market was less active, with cumulative sales down 10% from January to July, a smaller decline compared to second-hand housing.
Q:What is the difference between the performance of the real estate market in first-tier cities and second-and third-tier cities?
A:The real estate market in first-tier cities performed more robustly than in second-and third-tier cities. From land acquisition to sales, first-tier cities are more resilient, real estate companies tend to acquire land in core cities, and the good sales performance of first-tier cities also attracts real estate companies to invest, so the real estate market in first-tier cities performs better.
Q:What is the real estate market situation in the four key cities of Beijing, Shanghai, Shenzhen and Guangzhou?
A:The new housing market in Beijing and Shanghai remained stable, and the second-hand housing market in Shanghai maintained a high degree of activity; Shenzhen's new housing market was affected by supply, with a monthly growth of 50% in July, but a cumulative decline of 12%, while the second-hand housing market remained stable; Guangzhou's new housing market achieved year-on-year growth in July due to the entry of high-quality real estate.
Q:What about the land market?
A:The land market continued its shrinking trend, with both transaction area and transfer fees falling year-on-year in July, but high-quality land transactions in first-tier cities such as Shanghai and Beijing made the decline smaller than in second-and third-tier cities. From January to July, the transaction area of residential land in 300 cities nationwide decreased by 23% year-on-year, and the transfer fee decreased by 28%, mainly due to the marginal improvement brought about by the entry of high-quality land into the market, but the overall trend was still downward.
Q:How is the current performance of real estate companies in terms of land transfer fees?
A:From July to the cumulative transfer fee ranking, Shanghai, Hangzhou and Beijing occupy the top three cities, and the willingness of real estate companies to acquire land is concentrated in first-tier and some hot second-tier cities, such as Guangzhou, Shenzhen and Chengdu. At the same time, the participation of real estate enterprises in land acquisition is more focused, and the proportion of transfer fees in Top 20 and Top 10 cities has increased significantly, reflecting the more centralized land acquisition of real estate enterprises.
Q:In terms of residential land transfer fees in July, what are the plots worth paying attention?
A:Among the top 5 plots of residential land transfer fee in July, a group plot in Yangpu District of Shanghai is more prominent. The plot consists of three plots, including two residential plots and one commercial plot. The overall transfer fee reached 16.12 billion yuan, setting a total price record for this year, and the premium rate was as high as 36%. The other is the Mediterranean plot in Haida, Chaoyang District, Beijing, with a land price exceeding 80000 and a premium rate of 26%.
Q:Why can these plots be photographed high?
A:There are three main reasons why these plots can be photographed at high positions: first, they are located in high-quality plates in Shanghai, Hangzhou, Beijing and other cities, and they are further screened in the core high-quality plates; second, the supporting facilities around the plots are complete and there are no Hard injuries, such as medical care, transportation, etc.; finally, some plots have good landscape resources. For example, the Yangpu District plot is very close to the Huangpu River, which is conducive to building luxury housing projects, in order to achieve high premium and strong product power.
Q:What are your views on the policy side of the current real estate market and market trends?
A:From the policy side, the Politburo meeting put forward the tone of expanding consumption and real estate market stability, is expected to focus on the goal of stabilizing the market throughout the year, the policy focus is to speed up the implementation of the policies that have been introduced to maintain market confidence. From the perspective of market trends, the new and second-hand housing markets will pay attention together. The new housing market is currently in the restoration stage. The high-quality plots in some hot cities have supported the transaction heat, but the large supply in most cities and consumers' concerns about prices and supporting facilities The sensitivity of the country has led to the continued repair of the overall new housing market, and the new housing market in the national property market will show further differentiation.
Q:What is the sales performance and land acquisition of housing enterprises?
A:From January to July 2026, the sales of mainstream real estate companies generally showed a downward trend, but the rate of decline narrowed for five consecutive months. The total sales of 100 real estate companies exceeded 1.8 trillion, and the year-on-year decline was narrower than the previous few months. Sales of typical real estate companies such as China Overseas Land and China Resources Land increased year-on-year, mainly due to precise investment layout and product iteration upgrades. In the sales camp of real estate enterprises, the head real estate enterprises stick to the market share, the number of waist real estate enterprises shrinks, and the industry enters the stage of deep reshuffle. At the same time, hot-selling projects rely on scarce resources in core areas, precise product positioning and systematic marketing strategies to achieve hot sales.
Q:In the current real estate market, how do companies stand out through product power?
A:By creating products with unique characteristics and precise positioning, enterprises can meet the needs of users and stand out in the fierce market competition. For example, the product lines launched by head companies have captured their target customers well, such as the pine cone product line launched by Yuexiu Tianyue Yunxi, which has successfully attracted young groups.
Q:Housing enterprises to take the situation?
A:From January to July, the total amount of land acquired by key real estate companies fell by 27.6 year-on-year, but the decline narrowed to 6.1 percentage points for five consecutive months. Among them, Poly Development, China Resources Land, Yuexiu Real Estate and other central state-owned enterprises have a better land acquisition situation, occupying the top three. The enthusiasm of private enterprises to acquire land has increased, especially in Hangzhou, Shanghai and other southern cities. On the whole, the central state-owned enterprises are the main force of land acquisition enterprises, while the enthusiasm of private enterprises to acquire land has increased, and the scale of land acquisition has also increased.
Q:What are the characteristics of land-taking regions and urban agglomerations?
A:The land acquisition area is mainly concentrated in the core sectors of popular cities such as Beijing, Shanghai, Guangzhou, Shenzhen, Hangzhou, etc., especially the Yangtze River Delta urban agglomeration shows a higher degree of land acquisition activity, and its land acquisition amount ranks first among the four major urban agglomerations. This benefits from the continuous economic development of the region and the supply of high-quality land.
Q:From the perspective of the nature of land-taking enterprises, what types of enterprises are the main force?
A:In the nature of land-taking enterprises, central state-owned enterprises are still the main force, such as Poly Development, China Resources Land and other large central state-owned enterprises to take the amount of land in the forefront. At the same time, the enthusiasm of private enterprises to acquire land has increased, especially in specific regions such as Hangzhou and other places. Some private enterprises have shown their strength in regional advantages.
Q:Can you share the successful experience of the Jinmao Yiman Lake project?
A:Jinmao Yiman Lake Project is located in the North Longhu area, with a scarce location near the lake, backed by the Central Plains Science and Technology City, top-level surrounding supporting facilities and rich educational resources. With the superior geographical location and high-quality products, the project has achieved rapid sales. By emphasizing the unique advantages of reaching the lake at 200 meters, the "owning the lake" is transformed into "enjoying the lake" and the living experience is enhanced. The project has made remarkable achievements in the development of Beilong Lake, and the rapid development of the surrounding industry-city integration area has further enhanced the value of the project.
Q:How are your product lines and design lines linked, and which masters were invited to participate in the design process?
A:Starting from 2024, the product line, design line and story line have achieved two-line linkage. In the design stage of spectrum series products, we invited nine masters to build together. Among them, the architectural design was led by Jiang Jun, formerly known as "Officer Maide". Six of the top ten luxury houses he was responsible for designing in 2024 were designed by his team. The 9-meter team in Hangzhou was invited to the architectural planning. Zhengzhou's team is responsible for the supporting design of the indoor clubhouse and overhead floor. The hardcover part of the room invited WSE Hu Jinchun, a master of intangible cultural heritage. In addition, in order to integrate into the local culture of Henan, we also invited five masters to participate in the design, such as Changyang master of paper cutting, expert of weaving art, jade carving artist, and experts in the field of technology such as big 7.
Q:Can you describe in detail the design of the main gate of the project and the characteristics of the home path?
A:The design of the main gate is very artistic and ceremonial. It adopts a 9-meter-high gate with a shape similar to the crown of ancient emperors, implying that it is noble in the middle and peaceful in the middle. On both sides of the gate are selected trees that span the four provinces of mountains and rivers and have been searched for more than 3,000 kilometers. The homing path is the three-entry homing hall, the first entry is the Chen Anzhi hall, and the second entry is the four-water homing hall, with 18 columns, presenting a symmetrical layout of the middle axis, symbolizing the harmony of the home and the peace of the country and the people. The central axis is equipped with a mirror water system and a century-old shape of Luo Han Pine, creating a unique sense of homecoming ceremony.
Q:Where is the inspiration for landscape design in the park and what are the specific characteristics of the landscape?
A:The landscape design of the park is inspired by the Amman Hotel and is committed to creating a non-sense garden that provides a promising, tourist, residential and feasible viewing experience. Among them, the canyon courtyard landscape on the central axis is the first such design in Beilong Lake, with a 7-meter-high waterfall landscape. The characteristic landscape of the four seasons includes the hidden pool, the water absorption space, the waterfall landscape under the single-line bridge, the viewing platform of the winter sitting valley, etc., realizing the interaction between man and nature. At the same time, the park also has a double-layer double-first-floor non-street garden-style club, providing a wealth of leisure and entertainment facilities.
Q:What are the unique features of this residential area in science and technology?
A:The technology house we built integrates six life elements (temperature, humidity, air, sunlight, water, sound) into one, and realizes high-quality life through the twelve green gold technology systems. For example, the intelligent temperature control system makes the house suitable for winter and summer without additional air conditioning or floor heating. Intelligent humidification and dehumidification ensure comfortable indoor humidity, and the water purification system provides filtered drinking water. And adopt sound insulation and noise reduction technology to ensure a quiet and comfortable living environment; The 24-hour full replacement fresh air system circulates 12 to 15 times per hour to ensure air quality; The room intelligence adopts Huawei Hongmeng system to control household equipment with one key; for the first time, the surprise kitchen created in cooperation with Fang Tai is optimized in combination with Chinese family cooking habits.
Q:What are the highlights of the main unit type in the project?
A:Main Huxing has 143 and 8450.00g kinds. The 143 apartment type is four rooms, two halls and two bathrooms, with two bedrooms facing south and two bedrooms facing north. It is equipped with Chinese and western kitchens and housekeeping laundry. The living room is 6.1 meters wide and the usable area is as high as 167 square meters. The 169 apartment type is a four-leaf clover layout, with four bedrooms distributed in four corners. The north-south is transparent, the south-facing living room is spacious, and the donation area is rich. The usable area is equivalent to the 222 square meter interior area on the market. In addition, there are 199 apartments with four bedrooms and four bedrooms facing south, with flexible functional layout, suitable for families with nanny or independent study needs.

中指研究院
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