Core Viewpoint - The high-end residential market is showing independent performance amidst a sluggish overall market, with significant sales recorded for new projects in Shenzhen and Guangzhou, indicating a potential shift in market sentiment and demand for premium properties [1][3][4]. Group 1: High-End Residential Sales - Shenzhen Bay Luanxi achieved a sales record of approximately 13 billion yuan on its opening day, setting a new benchmark for new home sales in China this year [1][3]. - Poly Yueshi Bay in Guangzhou also reported over 10 billion yuan in sales on its opening day, marking it as the first "100 billion opening" project of the year nationwide [1][4]. - The sales performance of these projects exceeded market expectations, suggesting a strong demand for high-end properties despite a generally subdued market [1][3]. Group 2: Market Dynamics - The overall real estate market in Guangzhou and Shenzhen has been characterized by a cautious sentiment, with some projects resorting to price reductions to stimulate sales [1][5]. - Recent data indicates a slight recovery in transaction volumes, with new home sales in Shenzhen increasing by 8.1% month-on-month in November, while Guangzhou's second-hand home transactions rose by 22.89% [5][6]. - The high-end residential segment is attracting high-net-worth individuals, which may help to improve market conditions if the supply of premium properties continues to grow [1][5][6]. Group 3: Future Outlook - Upcoming high-end projects in Shenzhen and Guangzhou are expected to further stimulate market activity and improve buyer sentiment [6][7]. - The sales of high-end residential properties are seen as a potential driver for the overall market, as they may encourage land acquisition by developers and boost buyer confidence [7]. - The performance of high-end properties could lead to a more stable market environment if it successfully triggers demand for surrounding second-hand properties [7].
广深高端住宅热销