Core Viewpoint - The recent planning modification for the Luoxi residential area indicates an expansion of residential land, but lacks commercial and public facilities, which may impact the area's attractiveness and property values [1][3]. Group 1: Property Market Trends - The Luoxi residential area, once the largest rural housing redevelopment zone in the province, is experiencing a continued decline in second-hand housing prices, with recent transactions showing prices as low as 6,800 yuan per square meter [3][7]. - In March 2023, a 138 square meter property sold for approximately 6,500 yuan per square meter, indicating a significant drop from peak prices of around 15,000 yuan per square meter in 2021 [7][8]. - The average transaction prices for second-hand properties in the area have halved over the past two years, with current prices comparable to those in less central districts [8][10]. Group 2: Residential Area Characteristics - The Luoxi residential area is characterized by high-density housing with limited commercial amenities, leading to a perception of it being a "sleeping city" with little appeal for potential buyers [29][31]. - The area has a lack of public spaces and recreational facilities, which diminishes its livability and attractiveness compared to other urban developments [31][38]. - The existing commercial facilities are minimal and primarily serve basic needs, failing to create a vibrant community atmosphere [15][17]. Group 3: Future Development Considerations - To improve the situation, there is a need for better public spaces and community facilities, such as parks, sports venues, and libraries, to enhance the living experience in the Luoxi residential area [38][40]. - The integration of ecological resources and improved connectivity to surrounding areas could help attract more residents and increase property values [42][44]. - However, current economic conditions and fiscal pressures may hinder the implementation of these necessary developments, potentially leading to further declines in property prices [46].