广州新规下，二手房有救了？！

Core Viewpoint - The tightening of high usage rates in Guangzhou is expected to impact both new and second-hand housing markets, with mixed implications for developers and homeowners [2][4]. Summary by Sections New Regulations and Developer Impact - New regulations will still allow certain housing types but will eliminate methods that exploit "extra area" such as bay windows and flower beds [2]. - Developers with existing high usage rate inventory may benefit, while those who recently acquired land without exploiting these methods may face challenges [2][4]. Current State of Second-Hand Housing - The current state of second-hand housing in Guangzhou is described as "quite miserable, but not as bad as before," with over 146,000 listings on platforms like Beike, marking a historical peak [2][12]. - Transaction volumes have shown some improvement compared to last year, with April and March seeing over 10,000 transactions, although May saw a decline to 9,228 [2][12]. Impact of High Usage Rate on Second-Hand Housing - The previous high usage rates widened the gap between new and second-hand housing in terms of product quality and price-performance ratio [5][12]. - For example, a new 91㎡ unit can offer superior features compared to a 95㎡ second-hand unit, making it difficult for second-hand homeowners to compete [6][8]. Buyer Preferences and Market Dynamics - Many new home buyers are looking to upgrade from second-hand homes, which complicates the market dynamics as they struggle to sell their existing properties [9][10]. - The current buyer demographic favors smaller units, with 90㎡ and below accounting for half of the second-hand transactions in May [12][14]. Future Outlook for Second-Hand Housing - The tightening of usage rates may stop the widening gap between new and second-hand homes, but it does not eliminate the existing disparity [12][13]. - To revitalize the second-hand market, two strategies are suggested: waiting for new supply to diminish in prime areas to highlight second-hand scarcity, and maintaining competitive pricing against new homes [15][17].