Core Insights - The real estate market in Shanghai is experiencing a shift in buyer preferences from merely acquiring properties to prioritizing living quality, as evidenced by the declining demand for older developments with low usable area and low floor height [1] - New construction projects are increasingly utilizing design strategies to enhance usable space, with some properties achieving a usable area exceeding 100% of their stated size, reflecting a competitive landscape among developers [1] - The materials and standards used in new developments are evolving, with a notable decline in the use of traditional stone paint facades in favor of modern materials like aluminum panels and Low-E glass, which are perceived as more durable and aesthetically pleasing [2] Market Trends - The trend of "product internal competition" is evident, with developers enhancing various aspects of their offerings, from exterior design to amenities, to attract buyers [1] - Upgrades in parking facilities are significant, with modern features such as starry ceilings and high-end finishes becoming standard, contrasting sharply with the previous basic designs [4] - Common amenities that were once exclusive to luxury properties are now being integrated into mid-range developments, indicating a broadening of expectations among buyers [6] Developer Strategies - Leading state-owned enterprises are known for their standardized designs and reliable quality, appealing to conservative buyers, while local private firms focus on premium products but may present quality discrepancies across different project lines [8] - There are risks associated with local government investment projects and external developers, such as the potential for mismatched quality and design standards [8] Buyer Considerations - Buyers are advised to focus on three key indicators when evaluating properties: usable area (≥80%), exterior materials (non-stone paint), and property management (brand-name developers) to ensure long-term value [12] - There are concerns regarding inflated amenity promises and the potential for "gifted space" to be deemed non-compliant with regulations, which could affect property value [10]