西安四代住宅高得房率：需警惕噱头多于实质

Core Viewpoint - The real estate market in Xi'an is undergoing significant changes, particularly with the emergence of "fourth-generation" residential properties that boast high usable area ratios, but these come with potential compliance risks due to the nature of "gifted area" that often cannot be registered for property rights [2][9]. Group 1: Market Dynamics - The high usable area ratios in Xi'an's fourth-generation residential properties have led to a market differentiation, with some projects experiencing ratios exceeding 150% [5][6]. - The shift in focus for these properties has moved from larger units (over 120 square meters) to smaller ones starting from 90 square meters, indicating a significant change in market strategy [6][7]. - The pricing strategy involves high registration prices combined with substantial gifted areas, which has allowed these properties to penetrate the central market effectively [6][7]. Group 2: Consumer Behavior and Pricing - The perception of value among buyers has shifted towards the usable area, with examples showing that a property priced at 1.6 million yuan can yield a usable area of approximately 140 square meters, significantly lowering the effective price per square meter [8]. - The competition among developers has intensified, leading to a potential oversaturation of the market with high usable area claims, which may not reflect the actual value of the properties [9][10]. Group 3: Regulatory and Compliance Issues - There are significant risks associated with the "gifted area," including potential issues with property rights and compliance, as these areas often do not appear on property certificates [9][10]. - Recent regulatory changes have begun to impose stricter definitions and limitations on what constitutes "gifted area," which may shift the focus of competition back to quality and actual living value rather than numerical claims [11][12].