Core Viewpoint - The real estate market in Xi'an is undergoing significant changes, particularly with the emergence of "fourth-generation" residential properties that boast high usable area ratios, but these come with potential compliance risks due to the nature of "gifted area" that often cannot be registered for property rights [2][4][5]. Group 1: Market Dynamics - The popularity of fourth-generation residential properties is driven by two main shifts: a transition from suburban to urban locations, enhancing their value, and a pricing strategy that includes high registration prices, substantial gifted areas, and real discounts to capture the urban market [5]. - In the context of a cooling housing market, many new developments across various cities, including Xi'an, are offering significant gifted areas, with some projects reporting usable area ratios exceeding 150%, which is relatively rare in the broader market [5][6]. Group 2: Usable Area Ratios - Specific examples of high usable area ratios include a 111.73 square meter unit with a usable area ratio of approximately 111.53%, and a 128.58 square meter unit with a ratio of about 131.27%, while some units even exceed 150% [4][6]. - The trend of increasing gifted areas has evolved, with earlier models offering around 30 square meters of gifted area for an 85 square meter unit, now escalating to claims of 225 square meters usable from a 139 square meter unit [5][6]. Group 3: Risks and Compliance - Experts warn that while high usable area ratios can enhance living comfort and stimulate demand, they also exacerbate market fragmentation, putting pressure on lower-ratio projects and leading to intensified competition [8]. - There are significant risks associated with gifted areas, including potential issues with property rights, as these areas often cannot be included in property certificates, and compliance risks related to government approvals [8][9]. - The market is also seeing a shift in sales narratives, moving from "hot lottery" to emphasizing "sufficient customer base," indicating a potential decrease in future lottery opportunities for buyers [9]. Group 4: Regulatory Environment - National and local policies are increasingly regulating the calculation of usable areas, with recent regulations in various cities aiming to limit the definition and extent of gifted areas, which may shift the focus of competition back to space efficiency and building quality [9].

Core Viewpoint - The real estate market in Xi'an is undergoing significant changes, particularly with the emergence of "fourth-generation" residential properties that boast high usable area ratios, but these come with potential compliance risks due to the nature of "gifted area" that often cannot be registered for property rights [2][9]. Group 1: Market Dynamics - The high usable area ratios in Xi'an's fourth-generation residential properties have led to a market differentiation, with some projects experiencing ratios exceeding 150% [5][6]. - The shift in focus for these properties has moved from larger units (over 120 square meters) to smaller ones starting from 90 square meters, indicating a significant change in market strategy [6][7]. - The pricing strategy involves high registration prices combined with substantial gifted areas, which has allowed these properties to penetrate the central market effectively [6][7]. Group 2: Consumer Behavior and Pricing - The perception of value among buyers has shifted towards the usable area, with examples showing that a property priced at 1.6 million yuan can yield a usable area of approximately 140 square meters, significantly lowering the effective price per square meter [8]. - The competition among developers has intensified, leading to a potential oversaturation of the market with high usable area claims, which may not reflect the actual value of the properties [9][10]. Group 3: Regulatory and Compliance Issues - There are significant risks associated with the "gifted area," including potential issues with property rights and compliance, as these areas often do not appear on property certificates [9][10]. - Recent regulatory changes have begun to impose stricter definitions and limitations on what constitutes "gifted area," which may shift the focus of competition back to quality and actual living value rather than numerical claims [11][12].

Core Insights - Major cities like Guangzhou, Beijing, Chengdu, and Shanghai are implementing regulations to address the issue of "high usable area ratio" in real estate [1][3] - The intention behind these policy adjustments was to improve living conditions for residents, but developers have manipulated the system, leading to a competitive race for higher usable area ratios [3][4] - The excessive focus on usable area ratios is destabilizing the market, causing confusion among homebuyers and uncertainty for developers [4][5] Summary by Sections Policy Adjustments - Recent regulations in cities like Chengdu limit the projection area of additional spaces to no more than 30% of the calculated area, aiming to curb the trend of excessive area giveaways by developers [3][7] - Shanghai's new rules restrict balcony areas to 10% of the building area and a maximum of 16 square meters, establishing a baseline to prevent developers from compromising safety standards [7] Market Impact - The competition for higher usable area ratios has led to a decline in the perceived value of existing second-hand homes, with some properties losing up to 200,000 yuan in value due to new developments offering significantly higher ratios [5][6] - The increase in second-hand listings and declining prices are directly linked to the competitive pricing of new homes with inflated usable area ratios [6] Quality Concerns - Projects that excessively pursue higher usable area ratios often cut corners in other aspects, such as reducing the quality of public areas or the size of elevator lobbies [8][9] - The focus on maximizing usable area has overshadowed essential living quality factors, such as reasonable layout, ventilation, lighting, and community amenities [10]

Core Viewpoint - The article discusses the issue of "stealing area" in the real estate sector, where developers manipulate building area calculations to increase usable space, leading to safety concerns and regulatory scrutiny [5][6][7]. Group 1: Complaints and Issues - A complaint was received regarding a real estate project in Beijing, alleging that the developer converted balconies into bedrooms, exceeding the allowable area [4][5]. - The practice of enclosing balconies to increase usable area is common, but it raises safety and compliance issues, as it often does not meet structural and fire safety regulations [5][6]. Group 2: Regulatory Response - Regulatory bodies in major cities like Guangzhou, Beijing, Shanghai, and Chengdu are tightening regulations on building area calculations to curb the "stealing area" practices [7][19][22]. - New regulations have been introduced to limit the allowable area for balconies and other architectural features, aiming to ensure compliance with safety standards [19][22][23]. Group 3: Market Trends - The trend of high usable area rates has been increasing, with some projects advertising rates exceeding 120%, which is considered "super high" [11][12]. - The competitive advantage of high usable area projects is evident, as they are marketed as offering better value, but this has led to market distortions affecting both new and second-hand property prices [14][17]. Group 4: Shift Towards Quality Housing - There is a growing emphasis on quality housing, with policies encouraging developers to focus on overall project quality rather than just maximizing usable area [18][23]. - The article suggests that the focus on "good housing" will lead to a more sustainable and quality-driven real estate market, moving away from the numerical games associated with high usable area rates [23].

Core Viewpoint - The article discusses the issue of "stealing area" in real estate development, where developers illegally increase usable space by modifying balconies and other areas, leading to safety concerns and regulatory scrutiny [1][2][3][4]. Group 1: Complaints and Safety Concerns - A complaint was received regarding a real estate project in Beijing, alleging that the developer converted balconies into bedrooms, exceeding the allowable area [1]. - The complainant emphasized that such modifications pose serious risks to housing safety [2]. - The practice of enclosing balconies to increase usable space is common, but it must comply with weight-bearing, fire safety, and insulation standards [2][3]. Group 2: Industry Practices and Trends - Developers often utilize methods like enclosing balconies, modifying bay windows, and creating high ceilings to increase usable area without changing property rights [3][5]. - The trend of high usable area rates has been rising, with some projects advertising rates exceeding 120%, which is considered "super high" [6]. - In first-tier cities, high usable area projects are more competitive, as they enhance design space and product value [7][8]. Group 3: Regulatory Responses - Regulatory bodies in major cities like Beijing, Shanghai, and Chengdu have begun to tighten regulations on construction practices to curb "stealing area" [11][12]. - New regulations limit the allowable area for balconies and other features, aiming to ensure compliance with safety and planning standards [12][13]. - The shift towards regulating "stealing area" practices indicates a return to the focus on quality housing rather than just high usable area rates [4][13]. Group 4: Market Implications - The pursuit of high usable area has led to increased competition and has negatively impacted the pricing of existing homes [10]. - The emphasis on high usable area has created a perception of value, but it may mislead consumers regarding the quality and safety of the housing [9][10]. - The article suggests that the focus on "good housing" should prioritize overall quality and sustainability rather than just numerical metrics like usable area [13].

Core Viewpoint - The article discusses the issue of "stealing area" in the real estate sector, where developers illegally increase usable space by enclosing balconies and other areas, leading to safety concerns and regulatory scrutiny [1][11]. Group 1: Complaints and Issues - A complaint was received regarding a real estate project in Beijing, where the developer allegedly converted balconies into bedrooms, exceeding the allowable area and compromising safety [1]. - The practice of enclosing balconies to increase usable space is common, but it violates regulations that require compliance with safety and structural standards [1][11]. Group 2: Regulatory Response - Major cities like Guangzhou, Beijing, Shanghai, and Chengdu have begun to strengthen regulations on construction practices to curb "stealing area" [2][18]. - New regulations in Chengdu limit the increase in area to a maximum of 1.5% and set strict guidelines for balcony and window designs [15][18]. Group 3: Market Trends - The trend of high usable area rates has been rising, with some projects advertising rates exceeding 120%, which is considered "super high" [7][10]. - The competitive advantage of high usable area projects is evident, as they are perceived to offer better value, leading to increased sales despite potential safety risks [10][13]. Group 4: Industry Implications - The focus on high usable area has led to a competitive environment where traditional pricing strategies are no longer sufficient [10][13]. - The push for "good housing" emphasizes quality over mere area metrics, indicating a shift in industry standards towards sustainable and quality living spaces [19].

Core Viewpoint - The recent opening of the Changsha Jiaxin Yanghu Jinxie project has generated significant buyer interest, indicating a potential recovery in the local real estate market, driven by high usable area ratios under new regulations [1][3]. Group 1: Project Features and Buyer Interest - The project launched over 300 units and attracted around 600 buyers for the lottery, reflecting a strong demand [1]. - The high usable area ratio, exemplified by a 117㎡ unit that offers a practical layout of "four rooms and three bathrooms" with an actual usable area of 139㎡, has contributed to the project's appeal [3]. Group 2: Potential Risks and Concerns - The increase in usable area ratios has led to higher building densities, which may compromise public space and community amenities [5][6]. - The original plan for 10 buildings may expand to 14, resulting in reduced green spaces and recreational areas for residents [8]. - Increased building density also leads to reduced spacing between buildings, impacting privacy and comfort for residents [9]. - The design featuring numerous large windows may result in higher energy consumption and challenges in furniture placement, complicating living conditions [12][19]. - Promised high-end amenities may not be sustainable in a small community, leading to potential underutilization or increased management costs for residents [15]. Group 3: Location and Infrastructure Concerns - The project lacks proximity to essential infrastructure such as metro stations, quality schools, and mature commercial areas, which may affect long-term value [17][18]. - Surrounding factors like noise from highways and proximity to industrial sites may further detract from the living experience [18]. - The developer, Hunan Jiarong Real Estate Development Co., has limited experience in large-scale residential projects in Changsha, raising concerns about delivery capabilities and quality assurance [20][22]. Group 4: Conclusion and Recommendations - While the project has garnered attention for its high usable area, potential buyers are advised to remain rational and consider long-term living quality and community infrastructure before making decisions [24].

Core Viewpoint - The article discusses the rising trend of "high usable area" in the real estate market, highlighting that developers are increasingly using this as a selling point rather than competing on price. However, this has led to questionable practices where developers manipulate measurements to inflate usable area figures [3][4][5]. Summary by Sections Regulation of Residential Area Calculation - Recent regulations from various cities, including Chengdu, have sparked discussions on "high usable area." Chengdu's new guidelines state that the horizontal projection area of balconies and other auxiliary spaces should not exceed 30% of the residential area, compared to the previous 20% limit [4][5]. - The new regulations aim to standardize the calculation of usable area and curb the excessive expansion of certain spaces like entrance halls, which were previously not included in area calculations [5][6]. Addressing Grey Areas - The article emphasizes that the goal of these regulations is to eliminate grey areas where developers might "steal area" by manipulating designs to increase the reported usable area. Common tactics include designing balconies as semi-enclosed spaces or mislabeling equipment platforms [8][9]. - The push for high usable area has led to inflated marketing claims, with some projects advertising usable areas exceeding 100%, which can mislead consumers [10]. Market Dynamics and Competition - The article notes that while high usable area projects have seen initial success, the market is becoming saturated, making it difficult for such projects to maintain sales momentum. For instance, a project in Wuhan with a 97-98% usable area only achieved an 18% sales rate [12][13]. - The competition among similar projects is intensifying, and developers are encouraged to focus on overall quality and sustainability rather than just maximizing usable area [14]. Future Directions - Experts suggest that the focus should shift from merely increasing usable area to enhancing overall living quality, including better community facilities and building standards. This approach aims to improve the long-term value of properties and the overall living experience [13][14].

Core Viewpoint - The rising trend of "high usable area ratio" in new housing is becoming a significant selling point, overshadowing price competition, but it raises concerns about potential deceptive practices by developers [1][6] Group 1: Regulatory Changes - Recent regulations in cities like Chengdu aim to standardize the calculation of usable area, limiting the projection area of balconies and other auxiliary spaces to 30% of the residential building area, up from 20% [2][4] - The new regulations also include previously unregulated areas such as entrance halls and balconies in the calculation, tightening control over the total area [4][9] Group 2: Market Dynamics - The market has seen a surge in projects advertising high usable area ratios, but as these products become more common, relying solely on this feature is no longer sufficient to drive sales [8] - Some projects have reported inflated usable area ratios by including spaces like elevator halls, misleading consumers about the actual usable space [7] Group 3: Industry Practices - Developers have been known to employ tactics such as converting balconies into semi-enclosed spaces or mislabeling areas to inflate usable area ratios, leading to a "data bubble" in reported ratios [6][8] - The push for higher usable area ratios has led to a competitive market where projects must also offer other advantages like location, price, and amenities to attract buyers [8][9] Group 4: Future Directions - The focus is shifting from merely increasing usable area ratios to enhancing overall housing quality, including better public space design and sustainable development practices [9] - Industry experts emphasize the need for a holistic approach to housing that prioritizes quality and livability over just high usable area ratios [9]

Core Viewpoint - The term "good house" has gained significant attention in the real estate sector this year, but some new housing projects are misleadingly calculating usable area by including balconies, terraces, and other non-building areas, resulting in "usable rates" exceeding 100% [1] Group 1: Usable Area and Market Trends - Some cities have reported new housing projects with usable rates as high as 130%, which is unusual since the typical usable rate should not exceed 100% due to shared areas [1] - Research indicates that new products with high usable rates have seen high sales rates in cities like Guangzhou and Shenzhen, reflecting buyer preference for these offerings [1] - Developers have been found to engage in questionable practices to inflate usable area metrics, leading to a misinterpretation of what constitutes a "good house" [1] Group 2: Definition of a "Good House" - A true "good house" should focus on product design, construction quality, community services, green energy efficiency, and supporting services rather than just high usable area [2] - The recently implemented "Residential Project Standards" aim to enhance safety, comfort, and sustainability in housing projects, emphasizing the importance of quality and planning [2] - Local governments are encouraged to align with these standards to accelerate the development of "good houses" that genuinely improve living conditions and quality of life [2]