智通财经APP获悉，贝壳-W(02423)早盘涨超3%。截至发稿，涨2.60%，报45.04港元，成交额2.66亿港元。
消息面上，住建部近日表示，当前房地产市场出现了两个转变：一个转变是房地产市场供求关系发生了重大变化；另一个转变是房地产市场进入存量时代，二手房交易占比从2020年的27%提高到2025年的46%，今年前8个月已经达到52%，超过50%标志着进入存量时代。
小摩近期表示，预计贝壳在二手房市场的更快速增长将足以抵消新房市场的影响。虽然贝壳在新房交易中的“单位经济/总交易金额（GTV）”高于二手房，但其在二手房中的GTV份额明显高于新房。因此，从长期来看，贝壳可以受益于交易量从新房市场转向二手房市场。
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