PDH(SH:600048) Sou Hu Cai Jing·2025-09-18 22:17Core Viewpoint - The luxury real estate market in Guangzhou, particularly in the Pazhou area, is experiencing significant price fluctuations, with new developments like Poly Tianyi seeing price increases while established properties face steep declines in value [1][24][31]. Group 1: Price Trends - New luxury properties such as Poly Tianyi have seen initial prices of 72,000+ CNY per square meter, with recent increases of 3,000 to 5,000 CNY per square meter, and the second phase expected to launch at an average price of 90,000 CNY per square meter [1][24]. - In contrast, established properties like Poly Tianyue have seen prices drop from a peak of 177,000 CNY per square meter to around 96,400 CNY per square meter, representing a 46% decline over two years [13][10]. - The price of Zhujiang Dijingyuan has fallen from over 100,000 CNY per square meter to as low as 48,900 CNY per square meter, indicating a significant depreciation in value [20][4]. Group 2: Market Dynamics - The Pazhou area is witnessing a dichotomy where new developments are selling well, while the resale market is struggling, with some owners facing substantial losses [22][8]. - The introduction of new residential projects in the Pazhou area suggests that the supply of luxury housing is increasing, which may further pressure existing property values [31][24]. - The presence of major companies like Alibaba and Tencent in the Pazhou area indicates a strong industrial base, which could support long-term demand for housing despite current price corrections [33][37]. Group 3: Comparative Analysis - Poly Tianyi, while priced competitively, faces challenges in competing with established properties like Poly Tianyue and Pazhou South TOD, which offer better locations and amenities [26][29]. - The transportation advantages of Pazhou South TOD, being closer to metro stations, may enhance its appeal compared to Poly Tianyi, which is further from public transport [29][24]. - The overall sentiment in the luxury real estate market is shifting towards a more rational pricing approach, as the previous speculative bubble begins to deflate [31][37].