“有天有地”的别墅走俏，谁在撑起这个小众高奢市场？

Core Viewpoint - The villa market is experiencing a resurgence, with increasing transaction volumes and prices in cities like Guangzhou and Hangzhou, driven by a shift in buyer preferences towards low-density living and improved lifestyle choices [1][2][3]. Group 1: Market Activity - Guangzhou has seen multiple transactions of second-hand villas, with notable sales such as a 380 square meter villa sold for 18.18 million yuan, translating to approximately 5.23 million yuan per square meter [2]. - In Hangzhou, the villa market is particularly active, with 44 transactions recorded in the first five months of 2025, reaching about 67% of the total transactions for the previous year [3][4]. - The demand for villas is not limited to second-hand properties; new villa projects in cities like Shanghai and Suzhou are also attracting significant buyer interest, with some projects achieving high sales rates upon launch [4][5]. Group 2: Buyer Preferences - There is a noticeable shift in buyer preferences towards villas, driven by factors such as location and scarcity, with buyers increasingly valuing the unique attributes of villa properties [3][7]. - The pandemic has accelerated the desire for homes with outdoor space, leading to a surge in demand for villas as buyers seek a different lifestyle experience [7][8]. Group 3: Supply Dynamics - The supply of low-density land is increasing, with a notable rise in plots with a floor area ratio (FAR) below 1.5, which is conducive to villa development [9][10]. - In 2024, 18% of residential land in 22 key cities had a FAR below 1.5, an increase of 6.3 percentage points from 2023, indicating a trend towards more villa-friendly land policies [10][11]. - Suzhou is particularly notable, with a significant increase in the supply of villa-type products, including a threefold increase in the supply of linked villas in 2024 compared to previous years [11].