Core Insights - The price of the Country Garden Yun Ding project in Guangzhou's Zengcheng district has significantly dropped from a peak of 41,000 yuan per square meter to a current low of 11,000 yuan per square meter, indicating a drastic price adjustment in the market [3][4][5] - The project, which was once a "land king" in 2017, is now priced below the original land acquisition cost, reflecting broader trends in the real estate market where prices in suburban areas are experiencing sharper declines [3][4][5] - The overall market is seeing a shift in developer strategies, moving from large-scale developments to more refined, location-focused projects, as evidenced by the changing dynamics in Zengcheng and other suburban areas [11][14] Price Trends - The current selling price of the Country Garden Yun Ding project is approximately 11,000 yuan per square meter, which is significantly lower than the average new home price in the area, and even below the price of second-hand homes [2][7][9] - The project has seen a drastic price reduction, with a three-bedroom unit priced at 1.194 million yuan, translating to about 11,600 yuan per square meter [5][9] Market Dynamics - The Zengcheng area is witnessing a broader trend of price adjustments, with other large-scale developments also experiencing significant price drops, indicating that the situation at Country Garden Yun Ding is not an isolated case [11][12] - The inventory turnover period in Guangzhou's core areas is reported to be 21 months, while non-core areas like Zengcheng have an even longer turnover period of 29.01 months, suggesting a sluggish market [14] Developer Strategies - Developers are increasingly cautious in their land acquisition strategies, focusing on high-quality plots and shifting from a broad, large-scale development approach to a more meticulous, location-driven strategy [14] - The historical context of land acquisition in Zengcheng highlights two key periods (2013 and 2016) when many developers entered the market, but the current market dynamics suggest a shift away from such aggressive land grabbing [14]
1.1万元/㎡,广州楼盘为何卖出“县城价”?