北京部分豪宅，已经跌破楼面价！

Core Viewpoint - The luxury housing market in Beijing has experienced significant price declines, with some properties dropping as much as 35% from their peak in 2021, and some even selling below their floor prices [1][3]. Market Trends - The peak of Beijing's luxury housing market occurred in 2021, followed by a downward trend due to strict housing market regulations, economic slowdown, and reduced high-end demand [3][5]. - The market is showing structural characteristics, where prime location properties maintain relatively stable prices, while those with poor amenities face significant price pressure [3][5]. Developer Strategies - Developers who acquired land at high prices during the 2016-2018 boom are now facing severe sales pressure, leading to some properties being sold at a loss to recover funds [5][11]. - Different developers are adopting varied strategies in response to market changes, including delaying launches, repositioning projects, or reducing prices to accelerate cash flow [11]. Economic and Policy Factors - The current economic transition is causing high-net-worth individuals to adopt more cautious asset allocation strategies, leading to a decrease in real estate investment preferences [7][9]. - Policy changes, such as high down payment requirements for second homes and the introduction of policy housing, have further suppressed demand for luxury residences [9][11]. Future Outlook - The luxury housing market in Beijing may enter a relatively stable development phase, with potential for continued price declines in the short term due to inventory pressures and funding costs [13]. - Long-term prospects suggest that as economic transformation progresses and income levels rise, some demand for improved housing may gradually be released, leading to a stabilization of the luxury market [13][15].