VANKE(SZ:000002) Zhong Guo Jing Ying Bao·2025-10-23 07:08Core Insights - The high-end residential project "Gaofuyunjing" in Shanghai has gained significant attention due to its scarcity and high prices, with an average price of 210,000 yuan per square meter and a maximum unit price exceeding 160 million yuan [3][4] - The project has a remarkable subscription rate of approximately 152%, with 190 groups expressing interest in the initial offering of 125 units, leading to an early opening date [3][4] - The development of Gaofuyunjing has been a long process, taking 24 years to transform the former Gaofuli area, which dates back to the 1920s, into a modern residential project [3][6] Project Details - Gaofuyunjing offers 125 "large flat" units ranging from 276 to 592 square meters, with an average total price of 76 million yuan per unit [4] - The project is located in a highly sought-after area known as "Jufu Chang," characterized by limited new supply and high demand from wealthy individuals [5][8] - The building features a height of 150 meters, making it a rare super high-rise in the historical and cultural district of Hengfu, with a ceiling height of approximately 3.5 meters [5][6] Market Analysis - The project is positioned as a typical representative of high-end residential supply in the region, driven by a large base of high-net-worth individuals in Shanghai [5][8] - Despite the overall real estate market facing challenges, the luxury segment remains robust, indicating a shift in residential culture and a willingness among affluent buyers to pay premium prices for core urban properties [8] - The ongoing urban development and the limited availability of high-end properties in core areas suggest a strong potential for sustained value appreciation in the luxury real estate market [8]