“好房子”登上舞台：第四代住宅来了

Core Insights - The concept of "good housing" is gaining traction, with the government emphasizing quality upgrades and green transformation in housing as part of its 2025 work report [1] - The emergence of the "fourth generation residential" model is closely linked to policy direction, aiming for low plot ratio, high usable area, and larger unit types to meet improvement demands [1][4] - New regulations have increased the minimum ceiling height for residential buildings from 2.8 meters to 3.0 meters, enhancing spatial comfort [1] Policy Implementation - Over 50 cities, including Beijing, Chongqing, and Xi'an, have introduced supportive policies for new housing projects, such as excluding certain areas from plot ratio calculations [2] - In Beijing, many projects feature 6-meter high ceilings and standard terraces of 20-30 square meters, achieving usable rates above 90% [2] - Chongqing has popularized vertical greening systems and designs that improve air quality, with some projects achieving a PM2.5 filtration efficiency of 35% [2] Market Performance - Research indicates that the supply of fourth-generation residential projects is expected to grow, with over 70 new projects planned across various cities [4] - The average premium for fourth-generation residential projects in core cities is 16% compared to surrounding properties, with initial sales rates averaging 43%, outperforming the overall market [4] - The construction cost of fourth-generation residential units is approximately 650-700 yuan per square meter higher than traditional units, but their high premium and sales velocity can mitigate cost pressures [4] Transition to Quality Housing - The fourth-generation residential model is transitioning from pilot projects to widespread implementation, becoming a key component of the "good housing" policy [5] - The rise of fourth-generation residential units may disrupt existing markets, with around 70 projects in major cities achieving usable rates exceeding 100% [5] - In a market with excess supply, developers are focusing on fourth-generation residential units to differentiate their offerings and counteract the impact of second-hand housing [5]