克而瑞:房地产市场处于“政策底之后、基本面底尚未确认“的磨底阶段

智通财经
Yesterday
【克而瑞:房地产市场处于“政策底之后、基本面底尚未确认“的磨底阶段】智通财经APP获悉,克而瑞地产研究表示,8月房地产新房市场并非"全面转弱",也尚未形成"全面企稳",而是处于政策持续释放与基本面调整并存的磨底阶段——同比指标继续改善,环比指标仍然反复;销售端弱修复动能减弱,并通过回款环节传导至资金端,进一步压制房企的拿地与开工能力,最终表现为开发投资降幅继续扩大。房地产市场处于"政策底之后、基本面底尚未确认"的磨底阶段,且磨底的性质正在从周期性调整转向结构性重构——新开工持续低于销售、长期沉淀库存占比上升、商办库存压力突出、二手房交易规模已超过新建商品房,共同指向行业由"增量开发"向"存量运营"的长期转换。

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