Core Insights - The increasing demand for "existing house sales" is driven by industry downturns and a loss of confidence in pre-sale properties due to discrepancies between marketing and actual delivery [1][2] - Realistic demonstration areas have become a crucial marketing tool for real estate companies, evolving from mere sales points to comprehensive lifestyle showcases [1][3] Group 1: Objectives of Demonstration Areas - The core goal of demonstration areas is to create a threefold value system, enhancing sales experience, product visualization, and innovation [2][3] - Demonstration areas serve as the ultimate sales tool, embodying the principle of "what you see is what you get" [4][5] Group 2: Core Functions of Demonstration Areas - Risk mitigation: They address trust issues inherent in the pre-sale system, as exemplified by the 12,000 square meter all-dimensional demonstration area of the West Xi'an Greentown project [5][7] - Emotional engagement: They stimulate emotional resonance through sensory experiences, enhancing customer connection to quality living [7][8] - Value anchoring: High-end projects utilize realistic displays to justify premium pricing, with potential price premiums of 15%-20% for well-crafted demonstration areas [7][8] Group 3: Product Value Expression - Demonstration areas act as three-dimensional brochures for developers, showcasing spatial value through innovative designs [8][9] - Transparency in craftsmanship is highlighted, as seen in the Shanghai Putuo Jinmao project, which showcases hidden engineering quality [9][11] Group 4: Innovation and Iteration - Demonstration areas serve as critical platforms for product development, allowing for design validation and cost adaptation [12][14] - They facilitate the standardization of product lines, enabling iterative improvements based on customer feedback [14] Group 5: Classification of Demonstration Areas - Basic type: Focuses on entry experience and core landscape elements, suitable for smaller communities [16] - Advanced type: Combines public space functionality with innovative design, targeting improvement-oriented customers [17] - Comprehensive type: High-end projects that provide a complete experience from urban interface to interior space [18][20] Group 6: Design Elements and Standards - The selection strategy prioritizes visibility and accessibility, ensuring demonstration areas are strategically located [21] - Core design elements evolve from basic functionality to a deeper expression of lifestyle philosophy, balancing aesthetics and practicality [21][22] Group 7: Implementation Challenges - Conflicts with site pipelines can arise, necessitating early design and communication with government departments to avoid disruptions [29][30] - Adjustments in planning and design during implementation can lead to discrepancies between displayed and delivered projects, requiring ongoing monitoring and rectification [32][33] Conclusion - The evolution of demonstration areas reflects a shift in the real estate industry towards a more refined and customer-centric approach, emphasizing genuine experiences over mere sales tactics [35]

Core Viewpoint - The domestic real estate market in China has entered a long-term adjustment phase, with average housing prices dropping over 30% and some cities experiencing declines of over 60% from historical highs [2][4]. Group 1: Market Trends - Housing prices in second and third-tier cities have already seen significant declines, while first-tier cities like Shanghai and Shenzhen are expected to follow suit, indicating a potential "correction" in these markets [8]. - The current housing market is characterized by an oversupply, with approximately 600 million residential units available, which could accommodate 3 billion people if each unit housed five individuals [4]. - The economic downturn has led to reduced incomes and increased unemployment, making it difficult for many to sustain high housing prices [4]. Group 2: Consumer Behavior - An increasing number of young people are opting to rent rather than buy homes due to the financial burden of high property prices and the associated long-term mortgage commitments [11]. - The rental market is perceived as more financially viable for young individuals, allowing them to save money while waiting for housing prices to align more closely with local incomes [11]. Group 3: Policy and Supply - The government is expected to accelerate the introduction of affordable housing, with a plan to provide 6 million units over the next five years, averaging 1.2 million units annually [13]. - The shift towards selling existing homes rather than pre-sold properties is anticipated to increase, allowing buyers to inspect homes before purchasing, which may alleviate some market pressures [12].

打磨四年，北京首个实现全现房销售的新盘能建·东誉府已经开门迎客。北京商报楼市频道《看盘记》 记者近日走访能建·东誉府了解到，目前该项目的实景样板间开始接受预约看房，看房门槛为提供300万 —500万元的资产证明。现房的所见即所得、绝佳的地理位置以及还算合格的层高硬件等是项目的绝对 加分项；较早设计产品的迭代，受限于地块大小导致的绿化面积有限以及智能化选配不足等，是项目有 待提升的方面。但由于项目本身体量不大，现房与区位两大优势加持下，又锁定"金九银十"入市，只要 开发商拿出足够的诚意，项目的开盘是可以期待的。 北京市规划和自然资源委员会的土地交易信息显示，能建·东誉府地块于2021年12月出让，由葛洲坝以 11.4亿元竞得，成交楼面价约2.8万元/平方米。 据当时的出让信息，该地块试点全现房销售，尽管在这之前成都、杭州也曾出现过全现房销售地块，但 北京是第一次。这也是项目拿地后四年才实现入市的原因。 北京商报记者在项目现场看到，目前楼体已经封顶，预计将于9月开盘、10月交付。 看房门槛：300万—500万元资产证明 作为北京首个实现全现房销售的新建商品住宅项目，能建·东誉府不仅采用预约带看的方式，而且在看 房 ...

Group 1 - In July, Shenzhen's new housing transaction volume decreased by 18.7%, while second-hand housing transaction volume increased by 3.4% [1] - A total of 14 new projects were approved for sale in July, with a total supply of 6,405 new homes, marking a 252.6% month-on-month increase [1] - The decline in new home transactions is attributed to the traditional off-peak sales season and adverse weather conditions affecting buyer enthusiasm [1] Group 2 - In July, the average transaction price for second-hand homes in Shenzhen was 52,987 yuan per square meter, reflecting a 1.3% month-on-month decline and a 3.6% year-on-year decline [2] - The decrease in average prices is linked to a cautious mindset among sellers and an increase in negotiation space due to reduced market activity [2] - The number of second-hand homes sold in July reached 5,624 units, with residential transactions accounting for 4,656 units, indicating a 5.4% month-on-month increase [2] Group 3 - The rental market in Shenzhen remains stable, with average rental prices in July at 74.9 yuan per square meter, a slight increase of 0.4% month-on-month [3] - The average monthly rent per unit rose to 5,608 yuan, reflecting a 0.3% month-on-month increase and a 0.9% year-on-year increase [3] - The rental market is experiencing a seasonal peak during the summer, with increased transactions in core areas like Futian and Luohu contributing to rising average rental levels [3]

Core Viewpoint - The real estate market in Shenzhen shows a divergence in performance, with new home sales declining while second-hand home transactions continue to grow [2][3]. New Home Market - In July, new home sales in Shenzhen decreased by 18.7%, with a total of 2,664 units sold [2]. - There were 14 new projects launched, supplying a total of 6,405 new homes, which is a 252.6% increase month-on-month [2]. - The increase in new home supply is attributed to the proactive stance of developers, reaching a year-to-date high [2]. - The decline in new home sales is linked to seasonal market trends and adverse weather conditions affecting buyer enthusiasm [2]. - The trend of selling completed homes is gaining traction, with July seeing 1,441 pre-sale transactions, a 24.1% decrease, while 1,223 completed homes were sold [2]. Second-Hand Home Market - In July, second-hand home transactions reached 5,624 units, a 5.4% increase month-on-month, with residential sales up by 3.4% [3]. - The average price for second-hand homes in Shenzhen was 52,987 yuan per square meter, reflecting a 1.3% month-on-month decline and a 3.6% year-on-year decline [3]. - The price drop is attributed to decreased market activity and a more cautious mindset among sellers, leading to expanded negotiation space [3]. Rental Market - The rental market in Shenzhen remains stable, with average rents in July at 74.9 yuan per square meter, a slight increase of 0.4% month-on-month [4]. - The average monthly rent per unit was 5,608 yuan, up 0.3% month-on-month and 0.9% year-on-year [4]. - The increase in rental prices is driven by higher transaction volumes in core areas like Futian and Luohu, alongside seasonal demand [4]. Market Outlook - The real estate market in key cities, including Shenzhen, is experiencing a slight downturn, with second-hand homes continuing to adopt a "price for volume" strategy [5]. - The market is expected to remain volatile, with ongoing city-specific trends and structural opportunities for "good cities + good properties" [5]. - Future policies are anticipated to support market stabilization, focusing on the effective implementation of existing measures [5].

Group 1 - The real estate market in the province is stabilizing due to a series of favorable policies aimed at promoting housing sales and increasing supply [2][4] - In the first half of the year, the total sales area of new and second-hand homes increased by 3.65% year-on-year, with new home sales showing steady performance and a rebound in the second-hand market [2][3] - The average sales price of new homes has shown a slight increase over the past four months, driven by the introduction of high-quality housing projects [3] Group 2 - The province has issued 220.47 billion yuan in housing provident fund loans, supporting 43,400 families in purchasing homes [4] - A total of 48 projects for affordable rental housing have been initiated, with a completion rate of 77.92%, and 2 projects for sale-type affordable housing with a completion rate of 50.99% [4] - The provincial housing authority emphasizes the need for policies that adapt to changes in supply and demand in the real estate market, aiming to promote stable and healthy market development [4]

Group 1 - The core viewpoint is that more cities are exploring the model of selling completed properties, which is gaining traction in the real estate market [1][2] - In Shenzhen, the first half of the year saw a total of 21,868 new residential units signed, with 6,767 of these being completed properties, accounting for 30.9% of total sales [1] - The proportion of completed property sales in Shenzhen has shown a fluctuating upward trend, increasing from 22% in January to 42% in June [1] Group 2 - Various cities have been actively implementing policies to support the sale of completed properties since the end of 2022, with specific regulations emerging in places like Henan Province [2] - In Shenzhen, new land sales have begun to include requirements for completed property sales, with developers needing to meet certain conditions before selling [2] - While the completed property sales model increases financial pressure on developers, it is seen as a way to mitigate risks associated with unfinished projects and boost market confidence [2]

Core Viewpoint - The article discusses the upcoming launch of the residential project "Zhenwenfu" in Pingshan, Shenzhen, which is set to enter the market as a completed property after a decade of delays. The project aims to attract buyers with its existing infrastructure and amenities, but faces challenges due to market conditions and historical pricing trends in the area [1][12][35]. Group 1: Project Details - "Zhenwenfu" will offer 520 residential units with sizes ranging from 59 to 132 square meters, at a reference price of approximately 35,000 yuan per square meter [1]. - The project is located near established commercial and educational facilities, including Yitian Holiday World and several schools [1][13]. - The project has been previously labeled as "the most tragic god-level project" in Pingshan due to multiple delays in its launch [4]. Group 2: Market Context - The Pingshan area, once considered undervalued, has seen significant price adjustments, with current market expectations for three-bedroom units around 1.6 to 1.7 million yuan [22][23]. - Recent transactions in the vicinity indicate a downward trend in prices, with examples showing units selling for as low as 27,000 yuan per square meter [24][27]. - The overall market sentiment suggests that even with the completed status of "Zhenwenfu," the project may struggle to meet buyer expectations due to historical pricing and current market conditions [12][35]. Group 3: Challenges and Considerations - The project faces potential issues with parking availability, as it has a shortfall of 162 parking spaces against its 520 units [19]. - Environmental concerns are raised due to the proximity of industrial areas and ongoing urban renewal projects, which may affect the living experience [15][21]. - The marketing strategy emphasizes immediate availability and quality, but discrepancies between promotional materials and actual delivery could impact buyer confidence [18][17].

Core Insights - The People's Bank of China reported that as of the end of Q2 2025, the balance of RMB real estate loans was 53.33 trillion yuan, a year-on-year increase of 0.4%, with a growth rate 0.6 percentage points higher than the end of the previous year [1] - The National Bureau of Statistics indicated that while real estate sales area and prices are still declining, the overall real estate market is moving towards stabilization, with a reduction in inventory for four consecutive months [1] - The Ministry of Housing and Urban-Rural Development emphasized the importance of promoting a stable and healthy development of the real estate market, urging local governments to implement precise policies [2] Real Estate Loan Statistics - As of the end of Q2 2025, the balance of real estate development loans was 13.81 trillion yuan, a year-on-year increase of 0.3%, with an increase of 292.6 billion yuan in the first half of the year [1] - The balance of personal housing loans was 37.74 trillion yuan, a year-on-year decrease of 0.1%, but the growth rate was 1.2 percentage points higher than at the end of the previous year, with an increase of 51 billion yuan in the first half of the year [1] Market Trends and Company Performance - The real estate market is showing signs of stabilization, with improved funding sources for real estate companies and ongoing debt restructuring efforts [2] - Companies like Sunac, R&F, and others are accelerating their debt restructuring processes, which is seen as a critical step for distressed firms [2] - China Jinmao reported a signed sales amount of 15.6 billion yuan in June 2025, a year-on-year increase of 17.29% [5] Company-Specific Updates - Vanke Enterprises reported nearly 38 billion yuan in revenue and over 35 billion yuan in sales for Q1 2025, with a repayment rate exceeding 100% [4] - China Resources Land achieved a total contract sales amount of approximately 234.5 billion yuan in June 2025, a year-on-year decrease of 26.7% [4] - Yuexiu Property's cumulative contract sales for the first half of 2025 amounted to approximately 61.5 billion yuan, a year-on-year increase of about 11% [4]

Core Viewpoint - The article discusses the evolution and current state of the real estate market in China, particularly focusing on the shift from pre-sale to current sale models, highlighting the challenges and potential benefits of each system [1][5][7]. Group 1: Historical Context - The pre-sale model, created by Ho Ying Tung in the 1950s, significantly contributed to the prosperity of Hong Kong's real estate market [1]. - From 2017 to 2021, the real estate industry experienced rapid growth, with new home sales reaching nearly 1.8 billion square meters in 2021, marking a historical peak [1]. - In 2022, the market began to decline, leading to an increase in the proportion of pre-sale homes, with the first five months of 2025 showing a new high of 35.6% for current home sales since 2007 [1][3]. Group 2: Current Market Dynamics - The current environment has led to increased calls for current home sales, as many consumers express dissatisfaction with the pre-sale model due to concerns over delivery and quality [3][4]. - The People's Bank of China and other regulatory bodies are introducing policies to stabilize the market, including measures to support financing for real estate development [3][8]. Group 3: Challenges and Considerations - The article emphasizes that the core issue is not merely the choice between pre-sale and current sale but ensuring the delivery and quality of homes [5][6]. - The current economic climate poses significant challenges for developers, many of whom are struggling to complete projects, which complicates the transition to a current sale model [5][7]. - While some cities are moving towards current sales, the overall industry adjustment is still ongoing, and a hasty shift could exacerbate existing problems [7][9]. Group 4: Future Outlook - Several regions, including Guangdong and Anhui, are piloting current home sales, with some cities like Xinyang planning to fully implement this model by 2025 [8][9]. - Developers are encouraged to adapt to the changing market by offering current or near-current home options, as seen with companies like Zhongkun Real Estate [9][10]. - The article concludes that while current home sales may become dominant in the long term, the timing and method of implementation will vary by city, requiring careful consideration to ensure consumer benefits [9].