转自：北京日报客户端 "核心价值兑现度决定去化率"这句话越来越成为豪宅项目操盘成败的关键。北京商报记者统计，截至 2025年末，北京单价10万元/平方米以上高端住宅市场年内新入市10个项目，呈现"整体升温、局部遇 冷"的分化态势。以项目入市超半年为统计口径，此类高端住宅整体去化率超50%。其中，和樾望雲以 96.54%的去化率登顶年度"去化王"，相邻的和樾玉鸣去化率亦逼近90%；与之形成鲜明对比的是，同期 入市的中海丽金府去化率仅16.04%。这种显著的去化差异并非偶然，业内专家分析称，随着豪宅供应 量的增加，高净值客群的选择更加理性，不再盲目追逐"高端"标签，而是更看重区位价值、产品力与自 身需求的匹配度。未来高端住宅市场的竞争，核心是"价值精准兑现"的竞争，只有精准把握区位价值、 深耕产品力、匹配客群需求，才能在分化的市场中实现高去化。 四大项目集体站上60%合格线 当前北京豪宅市场的竞争已脱离"面积比拼"的初级阶段，迈入以"精准匹配客群需求"为核心的产品力竞 争新时期，项目间的细分竞争态势持续加剧。 北京商报记者统计，2025年北京共有10个单价超10万元/平方米的高端住宅项目入市，涵盖和樾望雲、 建发 ...

四大项目集体站上60%合格线 当前北京豪宅市场的竞争已脱离"面积比拼"的初级阶段，迈入以"精准匹配客群需求"为核心的产品力竞 争新时期，项目间的细分竞争态势持续加剧。 "核心价值兑现度决定去化率"这句话越来越成为豪宅项目操盘成败的关键。北京商报记者统计发现，截 至2025年末，北京单价10万元/平方米以上高端住宅市场年内新入市10个项目，呈现"整体升温、局部遇 冷"的分化态势。以项目入市超半年为统计口径，此类高端住宅整体去化率超50%。其中，和樾望雲以 96.54%的去化率登顶年度"去化王"，相邻的和樾玉鸣去化率亦逼近90%；与之形成鲜明对比的是，同期 入市的中海丽金府去化率仅16.04%。这种显著的去化差异并非偶然，业内专家分析称，随着豪宅供应 量的增加，高净值客群的选择更加理性，不再盲目追逐"高端"标签，而是更看重区位价值、产品力与自 身需求的匹配度。未来高端住宅市场的竞争，核心是"价值精准兑现"的竞争，只有精准把握区位价值、 深耕产品力、匹配客群需求，才能在分化的市场中实现高去化。 北京商报记者统计发现，2025年北京共有10个单价超10万元/平方米的高端住宅项目入市，涵盖和樾望 雲、建发海晏、中海丽金 ...

Core Viewpoint - Despite the overall adjustment in the real estate market, the high-end residential market has emerged with independent trends in 2025, driven by significant sales in major cities and a shift in buyer demographics towards high-net-worth individuals seeking investment properties [1][2]. Group 1: Market Performance - In the first 11 months of this year, the sales of new residential properties nationwide reached 7.51 trillion yuan, a year-on-year decrease of 11.1%, while high-end residential properties maintained a certain level of transaction volume [2]. - Notable high-end residential projects in first-tier cities include Shanghai's Yihua Courtyard with sales of 22.191 billion yuan and Shenzhen's Bay Luanxi with a single-day sales record of 13 billion yuan [1][2]. - The high-end residential market in Shanghai is particularly robust, with over 3,402 units sold at prices above 20 million yuan, totaling 139.2 billion yuan [2]. Group 2: Buyer Demographics - Buyers of high-end residential properties include entrepreneurs, celebrities, and foreign nationals, with local buyers in Shanghai accounting for approximately 28.6% and buyers from Jiangsu and Zhejiang provinces making up 30% [3]. - In Guangzhou, high-end buyers include tech company founders, with one family reportedly purchasing six units for a total of 500 million yuan [3]. Group 3: Supply Dynamics - The supply of high-end residential properties is increasing due to a concentration of land sales in core urban areas, which is expected to continue driving supply growth [6]. - Recent land sales in Shanghai and Shenzhen have set new records for land prices, indicating a trend towards higher-end developments [6]. - The government is encouraging residential development towards low-density and high-quality projects, enhancing the living experience and driving demand for high-end properties [4]. Group 4: Market Outlook - The high-end residential market is expected to remain active, with a rational return in transaction volumes anticipated as more properties enter the secondary market [1][7]. - While the demand for high-end properties remains strong, there is caution regarding the ability of the market to absorb increased supply, with some experts suggesting a potential for price stabilization [7].

Group 1 - Beijing Runyuan, a high-end project under China Resources Land, officially opened on December 5, 2025, achieving sales of 3.5 billion yuan on its first day, reflecting a combination of scarce resources, product strength, and market confidence [2][20][35] - On the opening day, two villas were signed online, with a total area of 960 square meters and an average transaction price of 94,500 yuan per square meter, which is approximately a 7% discount from the pre-sale price [5][26][33] - The project is located in the core area of Beijing's traditional "Central Villa District," adjacent to the ecological corridor of the Yonglu River, and features a low plot ratio of only 1.01, making it one of the lowest in Beijing [5][33] Group 2 - The product line of Beijing Runyuan includes villas ranging from 700 to 990 square meters, with total prices starting at 60 million yuan, and luxury options exceeding 100 million yuan [6][33] - The project is backed by a state-owned enterprise, which enhances its credibility and market appeal, particularly among high-net-worth individuals [16][20] - The competitive landscape in the Central Villa District is intensifying, with three projects from Maoyuan Real Estate—Yunji, Jingzhu, and Lizhu Tai—forming a strategic encirclement around Beijing Runyuan, indicating a robust competition [7][18][20] Group 3 - Maoyuan Yunji is positioned as an ecological villa project surrounded by a park, emphasizing low-density living and high-quality ecological resources [8][11] - Maoyuan Jingzhu focuses on traditional villa living with a mature lifestyle infrastructure, catering to high-net-worth families [12][13] - Maoyuan Lizhu Tai offers urban-style large flat apartments, providing a new option for buyers who prefer a city living experience within the Central Villa District [14][15] Group 4 - The Central Villa District remains a highly sought-after area in Beijing, characterized by its international amenities, ecological resources, and low-density land supply, which are critical factors driving demand [17][20] - The successful launch of Beijing Runyuan is seen as a starting point for a new round of value reassessment in the market, highlighting the enduring appeal of scarce assets [18][20] - The competition between state-owned enterprises like China Resources and local developers like Maoyuan is expected to elevate the overall value of the Central Villa District [16][20]

Core Viewpoint - The high-end residential market in China is experiencing a surge in sales, with notable projects in Shenzhen and Guangzhou breaking sales records, indicating a potential shift in market dynamics despite an overall sluggish real estate market [1][5][6]. Group 1: High-End Residential Sales Performance - Shenzhen Bay Luanxi achieved a single-day sales record of approximately 13 billion yuan, setting a new benchmark for new home sales in 2025 [1]. - Poly Yueshi Bay in Guangzhou recorded over 10 billion yuan in sales on its opening day, marking it as the first "100 billion opening" project of the year [1][6]. - The sales performance of these high-end projects exceeded market expectations, suggesting a strong demand from high-net-worth individuals [1][5]. Group 2: Market Dynamics and Trends - The overall real estate market in Guangzhou and Shenzhen remains subdued, with a focus on "price for volume" strategies in some projects and a restructured second-hand housing price system [1][8]. - Despite the current market conditions, the successful sales of high-end properties are seen as a potential catalyst for improving market sentiment and stimulating demand [1][8][9]. - The high-end residential segment has shown resilience, with a 15.6% year-on-year increase in sales of properties priced over 10 million yuan in key cities [9]. Group 3: Future Outlook - The upcoming launch of additional high-end residential projects in both cities is expected to further release pent-up purchasing power and enhance market expectations [8][9]. - Analysts believe that the performance of high-end properties could lead to increased confidence among developers and buyers, potentially stabilizing the overall market [9].

Core Viewpoint - The article highlights the remarkable sales performance of high-end residential properties in China, particularly in the Greater Bay Area, indicating a potential recovery in the real estate market despite overall sluggishness in the sector this year [1][4]. Group 1: High-End Residential Sales - The launch of Shenzhen Bay Luanxi achieved a sales record of approximately 13 billion yuan in a single day, setting a new benchmark for new home sales in 2023 [1]. - The Guangzhou project, Poly Yuexi Bay, also recorded over 10 billion yuan in sales on its opening day, marking it as the first "billion-dollar opening" project of the year [1][6]. - The strong performance of these high-end projects is seen as a positive signal for the market, suggesting that demand exists among high-net-worth individuals despite a generally cautious market environment [1][10]. Group 2: Market Dynamics - The overall real estate market in Guangzhou and Shenzhen remains subdued, with new home sales showing a slight increase but still reflecting a trend of "price for volume" [8][9]. - In November, Shenzhen's new home transactions increased by 8.1% month-on-month, while Guangzhou's second-hand home transactions saw a significant rise of 22.89% [8]. - The high-end residential market is expected to continue attracting buyers, with upcoming projects like CITIC Xinyue Bay and others poised to enter the market, potentially releasing pent-up demand [9][10]. Group 3: Future Outlook - The sustained demand for high-end residential properties could lead to a broader market recovery, as these sales may stimulate land acquisition enthusiasm among developers and boost buyer confidence [10]. - Analysts suggest that the successful sales of high-end properties can facilitate the replacement demand among existing homeowners, which is crucial for the sustainable development of the new high-end market [10].

Core Viewpoint - The high-end residential market is showing independent performance amidst a sluggish overall market, with significant sales recorded for new projects in Shenzhen and Guangzhou, indicating a potential shift in market sentiment and demand for premium properties [1][3][4]. Group 1: High-End Residential Sales - Shenzhen Bay Luanxi achieved a sales record of approximately 13 billion yuan on its opening day, setting a new benchmark for new home sales in China this year [1][3]. - Poly Yueshi Bay in Guangzhou also reported over 10 billion yuan in sales on its opening day, marking it as the first "100 billion opening" project of the year nationwide [1][4]. - The sales performance of these projects exceeded market expectations, suggesting a strong demand for high-end properties despite a generally subdued market [1][3]. Group 2: Market Dynamics - The overall real estate market in Guangzhou and Shenzhen has been characterized by a cautious sentiment, with some projects resorting to price reductions to stimulate sales [1][5]. - Recent data indicates a slight recovery in transaction volumes, with new home sales in Shenzhen increasing by 8.1% month-on-month in November, while Guangzhou's second-hand home transactions rose by 22.89% [5][6]. - The high-end residential segment is attracting high-net-worth individuals, which may help to improve market conditions if the supply of premium properties continues to grow [1][5][6]. Group 3: Future Outlook - Upcoming high-end projects in Shenzhen and Guangzhou are expected to further stimulate market activity and improve buyer sentiment [6][7]. - The sales of high-end residential properties are seen as a potential driver for the overall market, as they may encourage land acquisition by developers and boost buyer confidence [7]. - The performance of high-end properties could lead to a more stable market environment if it successfully triggers demand for surrounding second-hand properties [7].

Core Insights - The opening of Shenzhen Bay Yunxi on November 30 set a new record for new home sales in China, achieving approximately 13 billion yuan in sales on the first day, surpassing previous records for the year [1][9] - The project, developed by China Resources Land and China Overseas Land, features 348 units with sizes ranging from 209 to 1149 square meters, with a significant portion of larger units selling out quickly [1][3] Sales Performance - The project achieved a near 70% sales rate on the opening day, with larger units (500 sqm, 700 sqm, and 1149 sqm) selling out first at prices ranging from 25,000 to 28,000 yuan per square meter, totaling between 13 million to 33 million yuan [1][5] - The average selling price for the 348 units was approximately 16.88 million yuan per square meter, with some units priced as high as 35 million yuan [4][5] Market Context - The high-end residential market is experiencing a surge, with the sale of luxury properties being viewed as a stable investment amid broader market adjustments [7][8] - In 2025, the total sales of residential properties priced over 10 million yuan in major cities increased by 15.6% compared to the previous year, indicating a strong demand for high-end real estate [9][10] Future Outlook - The trend of high-end residential properties gaining traction is expected to continue, driven by limited supply and favorable urban resources [11] - Upcoming projects in Shenzhen, such as CITIC Xinyue Bay and other luxury developments, are anticipated to further stimulate the market [7][11]

Core Insights - The opening of Shenzhen Bay Yunxi on November 30 set a new record for new home sales in China, achieving approximately 13 billion yuan in sales on the first day, surpassing previous records for 2025 [1][7] - The project, developed by China Resources Land and China Overseas Property, is located in a prime area and features large floor plans, which contributed to its high demand and rapid sales [2][5] Sales Performance - The project launched 348 units with sizes ranging from 209 to 1149 square meters, achieving a near 70% sales rate on the opening day [1][5] - The average selling price for the units was approximately 16.88 million yuan per square meter, with some units priced as high as 35 million yuan per square meter [3][4] Market Trends - High-end residential properties are experiencing a surge in demand, contrasting with the sluggish performance of the general housing market, which saw a 6.8% decline in sales area and a 9.6% drop in sales revenue year-on-year [10][11] - In the first three quarters of 2025, transactions for luxury homes priced over 10 million yuan increased by 15.6% compared to the same period in 2024, indicating a robust market for high-end properties [8][10] Future Outlook - The trend of high-end residential sales is expected to continue, supported by government policies that favor the development of luxury housing and the limited supply of such properties in core urban areas [5][11] - Upcoming projects in Shenzhen, such as CITIC Xinyue Bay and other luxury developments, are anticipated to further stimulate the high-end market [5][11]

Core Insights - The opening of Shenzhen Bay Yunxi on November 30 set a new record for new home sales in China, with a single-day sales figure of approximately 13 billion yuan [2][9] - The project, developed by China Resources Land and China Overseas Property, features 348 units with sizes ranging from 209 to 1149 square meters, and achieved a near 70% sales rate on the first day [2][3] Group 1: Sales Performance - The project sold out large units of 500, 700, and 1149 square meters on the first day, with prices ranging from 25,000 to 28,000 yuan per square meter, totaling between 13 million and 33 million yuan [2][5] - The average registration price for the 348 units was approximately 16,880 yuan per square meter, with some units priced as high as 35,000 yuan per square meter [4][5] Group 2: Market Context - The high-end residential market is experiencing a surge, contrasting with the ongoing adjustment in the first-time buyer segment, as evidenced by a 15.6% increase in transactions for properties priced over 10 million yuan in key cities [10][12] - The demand for high-end properties is driven by their perceived value as "hard currency" in the market, particularly in core urban areas with unique resources [7][8] Group 3: Future Outlook - The trend of high-end residential sales is expected to continue, with several upcoming projects in Shenzhen, indicating a robust market despite broader economic adjustments [7][12] - The government's easing of housing policies and the introduction of new residential land are likely to support the development of high-end properties, enhancing their appeal [7][12]