炒房时代终结！普通家庭租金回报率才是王道，别再被中介忽悠了

Core Insights - The shift in focus from property price appreciation to rental income generation is evident among investors, with a growing emphasis on monthly rental returns and payback periods [1][22]. Group 1: Investor Behavior - Investors like Zhang Qiang are now prioritizing rental income over capital gains, indicating a change in investment strategy in the real estate market [1][22]. - The trend shows that individuals are more cautious and prefer properties that can provide stable rental income, especially in uncertain economic conditions [22][30]. Group 2: Market Dynamics - There is a notable demand for small, affordable properties with high rental yields, as evidenced by the increased transaction volume of units under 70 square meters [16][20]. - The market is seeing a shift where institutional investors are also beginning to focus on residential properties due to rising rental yields, contrasting with previous preferences for commercial real estate [20][24]. Group 3: Investment Calculations - Investors are calculating returns based on net rental income, factoring in costs such as property management fees, maintenance, and potential vacancy losses, which can significantly affect perceived profitability [26][28]. - The internal rate of return (IRR) is becoming a critical metric for long-term investors, emphasizing the importance of holding periods in determining overall investment success [28][30].