Group 1 - The core viewpoint is that the real estate market in first-tier cities is stabilizing, with significant improvement in demand for high-end properties, although there remains considerable differentiation within cities and between different markets [1][2][3] - In Shanghai, the luxury project Shanghai One achieved remarkable sales, with 64 units sold for a total of 40.25 billion yuan on May 21, and a cumulative sales figure of 108.71 billion yuan for the year, marking it as the first project in the country to surpass 10 billion yuan in sales this year [1] - The luxury property market in Shanghai has shown strong purchasing power, with 809 units sold at prices of 30 million yuan and above by May 19, indicating a robust demand that matches annual levels from 2021 to 2023 [2] Group 2 - The overall new housing price index for 70 cities showed weakness in April, with a continued month-on-month decline and first-tier cities experiencing a slowdown in price increases after four months of growth [3] - Despite some positive sales in central urban areas during the May Day holiday, the broader market remains relatively subdued, highlighting the need for simultaneous efforts on both supply and demand sides to address the uneven performance across different cities [3] - Analysts suggest that the luxury market is less volatile compared to the traditional new housing market, with a trend of gradual warming expected from 2020 to 2025, particularly in major cities [2]