在澳洲，购买首套房仍是人们的强烈愿望，但进入房地产市场的途径在不断演变。 一些首次购房者更倾向于建造新房，而另一些人则偏爱现房。 据RealEstate网站报道，有些人选择购买首套房用于投资而非自住。 许多人依 靠"父母银行"来帮助支付首付，另一些人则利用"首套房保障计划"（First Home Guarantee）等 政府援助项目来踏上购房阶梯。 NAB最新住宅物业调查了今年第一季度首次购房者活动。 调查显示，新房市场的首 次购房者活动（占总销量的34.2%）略高于现房市场（占总销量的32.8%）。 新房可能更受青睐，因为首套房业主补贴仅适用于新房。此外，"房屋与土地套 餐"对首次购房者具有 吸引力，因为它们通常位于城市边缘更实惠区。 在各州中，新房在西澳最受欢迎。今年第一季度，近一半（47.6%）的新房销售对 象是首次购房者，而 现房销售的这一比例为32.2%， 在新州、昆州和南澳，新房也比现房更受欢迎，但差距比西澳小得多。 维州的情况 则相反，首次购房者对现房更感兴趣。 今年第一季度，维州约37.6%的现房销售对 象是首次购房者，而新房市场的这一比例为23.8%。 （图片来源：RealEstate） （ ...

Core Insights - The concept of "good housing" has been officially included in the government work report for the first time during this year's national two sessions, with the Ministry of Housing and Urban-Rural Development releasing the "Residential Project Specifications" to establish a foundational framework for "good housing" [1] - The "fourth generation housing" (referred to as "fourth generation residences") is emerging as a new trend in the Ningbo real estate market, with four plots of land designated for "high-quality residential area pilot" standards already successfully auctioned [1][9] - The introduction of "fourth generation residences" aims to redefine traditional housing limitations, particularly through the innovative design of sky gardens, which raises questions about maintenance costs and privacy concerns [2][5] Group 1: "Fourth Generation Residences" Features - The most notable feature of "fourth generation residences" is the sky garden, which has sparked significant discussion regarding its benefits and drawbacks [2] - The design allows for a high usable area ratio, potentially reaching 100% to 120% due to new regulations, which do not count the sky garden area towards building area or volume [3] - The design aims to enhance living experiences by breaking traditional spatial limitations and creating richer living scenarios [3] Group 2: Challenges and Considerations - The sky garden design raises concerns about privacy and natural light, as open balcony designs may compromise these aspects [5] - Coastal weather conditions, such as typhoons, pose challenges for the maintenance and protection of the sky gardens, leading to potential long-term costs and complexities [5] - Developers need to carefully balance these challenges during the design phase to ensure the viability of the "fourth generation residences" [5] Group 3: Comprehensive Standards for "Good Housing" - The construction of "good housing" is a systematic project, with Ningbo's "High-Quality Residential Design Requirements" outlining comprehensive standards, including minimum ceiling heights and the use of green building materials [6] - The standards mandate a minimum ceiling height of 3.1 meters, the installation of smart home systems, and a green material usage rate of over 70% [6] - These rigorous standards are intended to embed the essence of "good housing" into the planning and design of residential projects [6] Group 4: Market Response and Future Prospects - Although pure "fourth generation residence" projects have not yet entered the market, previous projects inspired by this concept have received positive feedback [9] - Key pilot plots include the Ningbo Real Estate Minghu Project, which has a total area of 320,439 m² and a floor price of 12,157 yuan/m², with a successful bid of 3.896 billion yuan [9][11] - The ongoing development of "fourth generation residences" in Ningbo is seen as a significant exploration of the national "good housing" blueprint, with potential implications for the local real estate market and broader industry perceptions [21]

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].