BUCID(SH:600266) Sou Hu Cai Jing·2025-10-21 10:45Core Viewpoint - The Federal Reserve's decision to lower interest rates in 2025 has triggered a global market response, prompting high-net-worth individuals to reassess their asset allocation strategies, particularly in the residential real estate market [1][3]. Summary by Sections Federal Reserve Actions - In 2025, the Federal Reserve lowered the federal funds rate target range by 25 basis points to 4.00%–4.25%, following three rate cuts in 2024 [1]. Global Market Impact - The rate cut has activated a "hot start" for global markets, significantly affecting capital flows and asset values, with 44% of family offices planning to increase investments in the residential market [1]. Demand for Core Assets - High-net-worth individuals are showing strong interest in "core assets," defined as luxury properties in prime locations of first-tier cities, which are perceived to have robust risk resistance [1][3]. Performance of Luxury Real Estate - The luxury real estate market in China, particularly in first-tier cities like Beijing, Shanghai, Guangzhou, and Shenzhen, is demonstrating strong resilience, with notable sales figures in high-end residential projects [3][4]. Characteristics of Tian Tan Fu - Tian Tan Fu, located in Beijing's inner city, exemplifies a core asset with its unique cultural and historical significance, comprehensive amenities, and high-end living environment [1][4][5]. Market Statistics - From January to May 2025, Shanghai saw 25 "sunshine plates," primarily high-end residential projects priced above 100,000 yuan per square meter. In Beijing, the proportion of properties priced over 10 million yuan increased by 8.7% [3]. Unique Selling Proposition - Tian Tan Fu's location offers access to significant cultural heritage sites and major commercial areas, enhancing its appeal as a luxury residence [4][5]. Supply Constraints - The supply of residential land within Beijing's second ring road has been extremely limited, with only one plot available from 2020 to 2024, further enhancing the value of properties like Tian Tan Fu [5]. Sales Performance - Since its launch in 2021, Tian Tan Fu has dominated Beijing's residential sales, achieving over 34 billion yuan in sales and maintaining a leading position in the market [7][9]. Architectural Design - The project features low-density buildings designed by renowned architects, blending traditional cultural elements with modern living standards, which enhances its market appeal [8][9]. Comprehensive Development - Tian Tan Fu is a large-scale development that integrates residential, commercial, and educational facilities, covering approximately 1 million square meters, which positions it as a model for urban living in Beijing [11][14]. Current Offerings - The project currently has a limited number of high-end units available, catering to high-net-worth individuals seeking stable and quality assets during uncertain economic times [14].