总结与展望 | 产品：“好房子”新标准开始实施，未来转向多维度综合价值竞争（2025H1）

Core Viewpoint - The real estate market in China is stabilizing in the first half of 2025, focusing on the construction of "good houses" as the national standard for residential projects is implemented, marking a shift towards high-quality development [1] Group 1: Market Trends - Demand for multi-bedroom products is steadily increasing, with four-bedroom units accounting for 31.6% of transactions, up 2.2 percentage points from the previous year [2] - The traditional demand for smaller homes is weakening, with larger, improved housing becoming the mainstream choice in the new home market [3] - In first-tier cities, the market share of four-bedroom products has significantly increased to 31.9%, a rise of 3.5 percentage points, primarily at the expense of three-bedroom units [3] Group 2: Product Characteristics - The market is showing a preference for larger residential units, with the share of 110-140㎡ and 140-180㎡ products increasing by 0.7 and 0.8 percentage points respectively [7] - New regulations are enhancing the functional space and comfort of residential products, leading to a comprehensive upgrade in housing offerings [13] - High-end products are adopting vertical and horizontal designs to meet the dual demands of high-net-worth clients for nature proximity and privacy [24] Group 3: Regulatory Environment - New regulations are tightening oversight on high-gifted rate products, as discrepancies between new and old regulations create dissatisfaction among existing homeowners [32] - Cities like Guangzhou and Chengdu are implementing stricter regulations on new products, limiting the allowable gifted area and ensuring compliance with safety standards [33] - The future design and regulation of new products are expected to shift towards optimizing living scenarios and enhancing service offerings rather than merely increasing gifted space [34]