12月9日，港股内房股集体重挫，中国金茂跌超9%，中国海外宏洋集团跌超8%，绿城中国跌超5%，美的置业、越秀地产、龙湖集团跌超3%。
国盛证券此前发布研报称，1-11月TOP100房企拿地总额8478 亿元，同比增长14.1%，增幅较1-10月大幅收窄。今年上半年，部分核心城市核心地段土地市场相对热度较高，结构性的成交带动了全国土地市场出让金额的增长；但随着头部房企补库目标的达成以及下半年新房市场进一步走冷，年末房企拿地积极性有所降低。
里昂也表示，开发商投资意愿低迷成为地产主要制约因素。数据显示，2025年前十月全国新开工面积仅4.91亿平方米，商业物业开发投资同比下滑14.7%。里昂认为，销售端持续企稳是重建行业信心的关键，预计2026年新开工面积降幅将收窄，全年商品房销售额同比降幅控制在4%以内。
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