Core Viewpoint - The article discusses the declining real estate market on Ersha Island, highlighting a significant increase in the number of properties for sale and a drop in average prices, indicating a shift in the desirability of this once-exclusive area [2][4][26]. Group 1: Market Trends - In 2023, only 7 second-hand houses were listed on Ersha Island, but this number surged to 26, representing a 271% increase [2][3]. - The actual number of properties available for sale is estimated to be 74, leading to a listing rate of 6.24%, which exceeds the normal range of 3%-5% for property listings [3]. - Approximately 67.57% of the current listings were added this year, indicating a sudden influx of sellers [3][26]. Group 2: Price Dynamics - The average listing price for second-hand homes on Ersha Island has decreased from 14.70 million CNY per square meter last year to 13.33 million CNY per square meter this year, a decline of about 9.32% [4]. - Some properties, particularly in traditional apartment complexes, have seen price drops of 20%-30% compared to previous high points [13][26]. - Specific listings have shown drastic price reductions, such as a property that dropped from 10.10 million CNY per square meter to 8.08 million CNY, a 20% decrease [11]. Group 3: Factors Influencing the Market - The overall living environment on Ersha Island has deteriorated, with increased foot traffic and commercial activities affecting the exclusivity of the area [16][19]. - The upcoming opening of the Guangzhou Metro Line 12 is expected to further increase accessibility, potentially altering the demographic and desirability of the area [21][24]. - Many older properties are perceived as outdated, prompting owners to seek newer developments with better amenities [26]. Group 4: Seller Motivations - A significant number of sellers are motivated by the need to liquidate assets due to economic pressures, with some owners looking to cash out and relocate [26][27]. - The market is seeing a shift as newer owners, who may not have the same financial cushion as long-term residents, are more willing to sell at lower prices [26][27].