实探丨深圳商务公寓成交增多，二手房成交继续回温

Core Viewpoint - There is a noticeable shift in the perception of non-residential properties, such as business apartments, among homebuyers, with recent sales of low-priced small apartments exceeding expectations [1][3]. Group 1: Market Trends - The People's Bank of China has lowered the minimum down payment ratio for commercial property loans to 30%, which is expected to stimulate demand [1]. - Recent data from the Shenzhen Beike Research Institute indicates a simultaneous increase in the transaction share of non-residential properties in both new and second-hand markets, with new non-residential transactions expected to reach 31.4% by 2025, a year-on-year increase of 3.8% [5]. - The transaction share of second-hand non-residential properties is projected to be 17.5% in 2025, marking a 2% year-on-year increase, the second-highest since 2012 [5]. Group 2: Buyer Preferences - There is a growing preference among buyers for small apartments intended for self-use or rental, driven by their lower entry barriers and higher rental yields [6]. - For instance, a 30-square-meter business apartment in the Hongxiang Garden area is priced below 1 million yuan, with a monthly rental income of around 3,000 yuan, resulting in a rental yield exceeding 3% [6]. - The popularity of business apartments is reflected in the high transaction volume, with the Xinghe Tiandi Pavilion recording 489 signed contracts, ranking among the top 10 in the residential market [6]. Group 3: Challenges and Concerns - Despite the positive trends, high transaction tax costs and loan restrictions deter many buyers from pursuing business apartments, leading to calls for adjustments in tax policies [7]. - The overall inventory of commercial properties remains high, and the difficulty in depleting this inventory has resulted in significant price declines [9].