Group 1 - The core sentiment among high-end home buyers is one of anxiety and urgency, as evidenced by the experience of a buyer who successfully purchased a property after multiple attempts due to high demand and quick sell-outs [1] - In the first half of the year, the transaction volume of high-end residential properties (priced over 10 million yuan) in 30 key cities increased by 18.76% year-on-year, with 32 properties sold for over 100 million yuan [1] - Shanghai led the market with 1,096 new homes sold for over 30 million yuan, accounting for 59.4% of the total in the 30 cities, while Beijing followed with 214 units sold [1] Group 2 - The trend indicates that higher-priced properties are experiencing faster sales growth, with new homes priced between 50 million and 100 million yuan seeing a year-on-year increase of 54.31% [2] - The high-end residential market is characterized by rising prices, with some new projects in Shanghai exceeding 26,000 yuan per square meter, and one project recording a peak price of 30.27 million yuan per square meter [2] - The outlook for the high-end residential market remains positive for the second half of the year, although performance will vary significantly among different projects based on location and product quality [2]

Core Insights - The high-end real estate market in China has shown resilience in the first half of the year, with a notable stabilization in sales after a period of decline [1][14] - Shanghai continues to dominate the high-end market, accounting for a significant share of transactions in the 30 monitored cities [4][14] Sales Performance - The total sales volume of new homes in 30 key cities remained stable compared to the same period last year, while high-end residential sales (priced above 10 million yuan) increased by 17.31% year-on-year [1][14] - Sales of high-end properties priced above 30 million yuan decreased by approximately 15%, with 1,846 units sold in the first half of the year [1] - The number of transactions for properties priced above 50 million yuan surged, with a year-on-year increase of 50.3% [2] City-Specific Trends - In the first half of 2023, Shanghai accounted for 59.4% of new high-end residential sales above 30 million yuan and 46.2% of second-hand sales in the same price range [4][6] - The top five projects by transaction value were all located in Shanghai, highlighting the city's strong market position [7] Price Segment Analysis - The number of transactions for high-end properties priced above 10 million yuan increased by 34% year-on-year, with Shanghai contributing significantly to this growth [8][9] - Properties priced between 10 million and 15 million yuan saw a 62% increase in sales, while those priced above 20 million yuan also experienced a 24% increase [12][13] Market Outlook - The high-end market is expected to maintain its momentum in the second half of the year, driven by continued demand for scarce assets in core cities [14] - The "sales-driven production" model suggests that developers will remain active in launching high-end properties, although supply constraints may push some buyers towards the second-hand market [14]

2025.05. 11 一般来说，豪宅项目较普通商品房项目周转更慢，但开发商绿城从拿地到开盘揽金近70亿元，仅用 了9个月时间。 9个月前，即2024年8月，上海开拍徐汇区斜土街道xh128D-07地块，该地块原为小米总部地块，因 小米将地块退还给了政府而重新调整规划，从商办用地改成住宅用地后，一上架就被多家开发商热烈 争抢。 当时，这块土地的起始楼面价已经达到10.1万元/平方米，在参拍开发商的不断加价下，地块很快就 触及30%的溢价率最高限制，进入摇号阶段。最终，绿城在摇号阶段以48亿元总价摘得地块，楼面价 高达13.1万元/平方米。 时隔8年，上海再次诞生国内单价最贵地王，绿城打破了2016年融信中国在上海拍出的国内最贵地王 纪录。 绿城刚拿到这块地，就立刻成立"开发作战指挥部"，隔天机械设备就进场了。拿地四个月后，绿城该 项目就开始实施"桩基工程"，2024年底开始组建销售团队。 不过，楼面价就已经达到13.1万元/平方米，未来开盘价要达到多少，绿城才能"算得过来账"？ 本文字数：997，阅读时长大约2分钟 作者 | 第一财经 马一凡 5月11日，位于上海市徐汇滨江板块的"全国单价地王"项目——"绿城 ...