Core Viewpoint - The article discusses the launch of the public voting phase for the "Top Ten Works" in the 2025 semi-annual evaluation of Chinese real estate products, emphasizing the importance of product quality in the housing sector [1][2][9]. Group 1: Voting Process and Timeline - The public voting for the top ten projects will take place from June 17 to June 23, with expert evaluations occurring on June 17-18 [2][10]. - Each participant can vote once per category using the same WeChat ID, with a maximum of ten projects selected per category [8]. Group 2: Evaluation and Categories - The evaluation process includes expert reviews, public voting, and assessment models, culminating in the announcement of the "Top Ten High-end/Luxury/Quality Works" and the "China Good House Comprehensive Award/Individual Award" by the end of June [10]. - The voting categories include high-end, luxury, and quality residential products, reflecting the industry's focus on enhancing living standards [7][9]. Group 3: Industry Context - Since 2018, the company has conducted the "Product Power 100" evaluation, highlighting the ongoing commitment of real estate companies to improve product quality and address housing pain points [7].

Core Viewpoint - The article discusses the launch of the public voting phase for the "Top Ten Works" in the 2025 semi-annual evaluation of Chinese real estate products, emphasizing the importance of product quality in the housing market [1][2][9]. Group 1: Voting Process and Timeline - The public voting for the top ten projects will take place from June 17 to June 23, with expert evaluations occurring on June 17-18 [2][10]. - Each participant can vote once per category using the same WeChat ID, with a maximum of ten projects selected per category [8]. Group 2: Evaluation and Categories - The evaluation process includes expert reviews, public voting, and assessment models, culminating in the announcement of the "Top Ten High-end/Luxury/Quality Works" and the "China Good House Comprehensive Award/Individual Award" by the end of June [10]. - The voting categories include high-end, luxury, and quality residential products, reflecting the industry's focus on enhancing product strength to address housing pain points [7][9]. Group 3: Industry Context - Since 2018, the company has conducted the "Product Strength 100" evaluation, highlighting the ongoing commitment of real estate companies to improve residential product quality [7].

16 June 2025 | 6:02PM HKT Asia Economics Analyst China's Demand for New Homes to Stay Low (Shan) Andrew Tilton +852-2978-1802 | andrew.tilton@gs.com Goldman Sachs (Asia) L.L.C. Hui Shan +852-2978-6634 | hui.shan@gs.com Goldman Sachs (Asia) L.L.C. Lisheng Wang +852-3966-4004 | lisheng.wang@gs.com Goldman Sachs (Asia) L.L.C. Xinquan Chen +852-2978-2418 | xinquan.chen@gs.com Goldman Sachs (Asia) L.L.C. n In 2021, we first presented our estimates of Chinese demand for new urban housing through 2050. However, ou ...

Investment Rating - The report indicates a continued downturn in China's property market, with expectations of a decline in property activities in 2025, albeit less severe than in 2024 [51]. Core Insights - Home purchase intentions have weakened overall, with tier 1 cities stabilizing while lower-tier cities, particularly tier 2 and tier 3, have seen a more significant decline [2][7]. - The survey reveals that 42% of respondents expect housing prices to decline further in the next 12 months, with a notable increase in homeowners reporting paper losses [3][30]. - The report emphasizes the need for government intervention through pro-growth policies, further mortgage rate cuts, and support for developers to boost market sentiment [4][51]. Summary by Sections Home Purchase Intentions - The latest survey shows a decrease in home purchase intentions, with only 20% planning to buy in the next two years, down from previous surveys [7]. - Among current renters, 73% prefer to rent rather than buy, marking the highest inclination since the survey began [7][40]. Housing Price Outlook - 42% of respondents anticipate further declines in housing prices, with 47% expecting a drop of less than 10% and 37% expecting a decline of 10-20% [3][23]. - Official data indicates a 10% decline in new residential prices and a 17% decline in secondary residential prices from peak levels [22]. Market Confidence and Economic Factors - The report notes that government policy easing has slightly improved market confidence, with fewer respondents expressing a lack of confidence compared to previous surveys [18]. - Key factors affecting confidence include lower mortgage rates, reduced down payment requirements, and expectations of further price declines [18][49]. Consumer Sentiment and Wealth Effect - The negative wealth effect from declining housing prices is likely to suppress household consumption, as 47% of homeowners report paper losses [30]. - The report highlights that housing stock value constitutes a significant portion of household assets, further impacting consumer sentiment [30]. Policy Recommendations - The report suggests that the government should implement more supportive policies to address stalled projects and enhance financing for both developers and home buyers [4][51]. - It emphasizes the importance of addressing bottleneck restrictions in the destocking program to improve market conditions [51].

| 北京5月新建商品住宅价格环比-0.4%（前值+0.1%），同比-4.3%（前值-5%）。 | | --- | | 上海5月新建商品住宅价格环比+0.7%（前值+0.5%），同比+5.9%（前值+5.9%）。 | | 广州5月新建商品住宅价格环比-0.8%（前值-0.2%），同比-5.8%（前值-6.3%）。 | | 深圳5月新建商品住宅价格环比-0.4%（前值-0.1%），同比-2.6%（前值-3.0%）。 | | | 城市 | 环比 | 同比 上年同月 | | 1-5月平均 上年同期 | 城市 | | 环比 | 同比 上年同月 | 1-5月平均 上年同期 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | 上月=100 | | | | | | 上月=100 | | | | | | | =100 | | =100 | | | | =100 | =100 | | 北 | 京 | 99.6 | | 95.7 | 94.7 | 唐 | ш | 99.5 | 93.0 | 92.6 | | ਜ | 津 | 99.5 ...

Core Viewpoint - The article highlights the harsh reality of the real estate market, particularly the wealth transfer occurring in major cities like Beijing, Shanghai, Guangzhou, and Shenzhen, where property prices are rising even for older homes, while suburban new homes are depreciating significantly [2] Group 1: Buying Strategies - Buy Old: Focus on purchasing existing homes or newly built homes that are ready for occupancy to avoid risks associated with unfinished properties [4][7] - Buy Big: The demand for larger homes (120㎡ and above) is increasing due to their practicality and comfort, especially after the implementation of the "90/70" policy, which mandates that 70% of new homes must be under 90㎡ [11][12] - Avoid Three: Certain types of properties, such as seaside homes, vacation homes, and older buildings over 20 years, are considered risky investments due to high vacancy rates and maintenance costs [19][23][25] Group 2: Market Trends - Wealth Transfer: The article notes a clear trend of wealth moving towards core urban areas, with even the least desirable properties in these locations experiencing price increases of around 2% [2] - Increased Demand for Large Units: The article indicates a significant rise in the transaction volume of larger units, as they are perceived as more valuable and easier to sell in the future [11][17] - Risks of Certain Property Types: Properties that are categorized as "conceptual" or located in less desirable areas are highlighted as potential financial burdens, with high maintenance costs and low resale value [19][25][27]

在目前宁波的房产市场，对于没有买卖打算的朋友来说，基本都是通过一些数字变化来感知涨落。 不过最近，东论网友@水丝却通过一则分享贴，带大家详细感受了 这两年里作为一个卖方的心态变化。 先说结论，努力了两年，跌价超过30万，但房子依然没有卖掉。 接下来，我们来看看他具体经历了什么。 @水丝表示，他手上的房子户型很小，房产证面积34.8平，使用面积大概25、6平，是曙光中学的学区房。 2011年6月份交付，名字也是大家诟病的所谓公寓，但是房产证却是住宅。2020年6月@水丝购入这间房，当时价格超过了100万元。 锁了两年以后，2023年初有人出价114万元想要购买，但当时房子在出租，虽然他跟租客在合同里约定过，租房期间需要配合看房，但当时租客改了密 码，不愿意说，楼主在外面出差，催了几次无果，这事儿就不了了之了。 当时楼主还抱着无所谓的态度，可他也没想到，后来的几年，房子一直陆陆续续挂出售卖，价格也从100多万，降到90万，再到80万，最后到跌破80万。 现在每个月还是会有人来看，但最终都没有结果。 所以当下回想起来，他对当时决定感到非常后悔。 图片来源：安居客 两年来，@水丝也总结了房子卖不出的几个原因：第一，虽 ...

Core Viewpoint - The article emphasizes the significance of homeownership, particularly in high-cost cities like Hong Kong, where even small apartments can be a substantial investment. It highlights the personal touches and organization that can make a small living space feel comfortable and inviting [1][3]. Group 1: Housing Market Insights - The blogger's apartment in Hong Kong is a 12 square meter space purchased for 4 million HKD, with a down payment of 900,000 HKD and a monthly mortgage of 14,000 HKD [5][30]. - The high property prices in Hong Kong necessitate compromises, leading many to opt for smaller living spaces [5]. Group 2: Interior Design and Organization - The apartment features a well-thought-out layout, including an open kitchen and a multifunctional living area, which maximizes the use of space [7][9]. - Custom cabinetry is highlighted as a crucial element in making small spaces feel organized and spacious, allowing for hidden storage and reducing clutter [17][20]. - The blogger emphasizes the importance of maintaining a tidy environment, which positively impacts mental well-being [22]. Group 3: Community Engagement - The article includes various comments from netizens expressing admiration for the apartment's design and functionality, indicating a strong interest in efficient living solutions [26][28]. - Questions from the audience about living expenses and specific features of the apartment reflect a community engaged in discussions about urban living challenges [30][32]. Group 4: Lifestyle Reflections - The conclusion suggests that the size of a living space does not determine the quality of life, encouraging individuals to appreciate and make the most of their living environments [36].

Core Insights - The article discusses three types of properties that are expected to be valuable investments over the next five years, supported by data and policy analysis [1] Group 1: Property Types - First type: Core location new or small apartments, particularly in city centers where land supply is limited, leading to significant price increases, such as a 50% rise in Xiamen's new properties [3][4] - Second type: Quality school district properties, which must meet the criteria of being in top school districts and being relatively new; for example, properties in Shanghai's dual school districts are still in high demand despite concerns about older school district properties [4][5] - Third type: Properties in emerging areas along future subway lines, with significant price appreciation expected before and after the subway opens, such as a projected 30% increase in property prices along the planned subway line in Shenyang [6][7] Group 2: Underlying Logic - Policy direction: The central government is promoting urban renewal, benefiting core new properties and subway-planned areas, with 300 cities initiating urban village renovations [7] - Population flow: There is a continued influx of people into first-tier cities, while third and fourth-tier cities are experiencing population outflows, with a 45% year-on-year increase in second-hand home transactions in first-tier cities [8] - Housing upgrades: New residential project standards are enhancing the competitiveness of new and emerging area properties, including requirements for higher ceilings and better sound insulation [8]

上海过江地铁一站路，房价便宜上百万...... 你是否经常在网络上听到这样一句话，说的就是老闵行黄浦江对面的奉贤西渡！ 虽然上海地铁5号线，老闵行的江川路和奉贤的西渡只是相差一站路，但是两个板块的房价却是完全两个概念. 我们在房产网站上可以看到，老闵行这边的二手房均价在将近4万左右一平米，而西渡这边的均价才2万5左右一平米，这完全是一个天上一个地下。 奉贤西渡，这里步行到地铁站几百米的小区，老房子的小户型八九十万就能买到一套。 那么你是愿意呆在闵行还是奉贤呢? 现实中很多人买在西渡的，都是考虑到闵行或市区方向的通勤，闵行和市区的预算不够，只能退而求次选择西渡了，也可以说是经济条件下的迫不得已， 但内心肯定是倾向于闵行，因为毕竟地段不一样，生活配套，医疗和教育资源也不一样。 虽然有很多人说老闵行现在没有了以往的辉煌，但毕竟瘦死的骆驼比马大。 甚至还有人说西渡的位置比宇宙中心大南桥还要好，只是城市界面不如南桥。 这说的不是废话吗？ 如果拿金汇出来和西渡比一比还能有点争议，但是和南桥比，除了离市区更近一些，好像找不到任何优势，对了那就是房价上占点优势！ 所以这也是房价低的原因...... 可以说是上海最便宜的地铁房 ...