Core Insights - A group of homeowners in Shanghai's Yangpu District has formed a "price alliance," listing several identical second-hand apartments at a uniform price of 14.6 million yuan, reflecting a strategic move amidst market adjustments [1][8] - The price per square meter for small units in the Century Jiangwan community peaked at 190,000 to 200,000 yuan before 2023, but has since declined significantly, with current listings showing prices exceeding 150,000 yuan per square meter [1][10] - The market sentiment is cautious, with a notable lack of viewings for these properties, indicating a disconnect between seller expectations and buyer willingness [9][10] Market Dynamics - The current average listing price for second-hand apartments in Century Jiangwan is over 150,000 yuan per square meter, while the average transaction price in September was 135,000 yuan per square meter, indicating a significant price gap [8][9] - New developments, such as Jianfa Haichen, are offering more competitive pricing, with an average price of 116,000 yuan per square meter, making them attractive alternatives for buyers [8][9] - The overall sentiment in the market suggests that the "price alliance" may not be effective in maintaining high prices, as urgent sellers could disrupt this strategy [9][10] Buyer Behavior - Potential buyers express reluctance to purchase at the current price levels, with some indicating that the same amount could secure larger properties in more desirable areas [9][10] - The perception of school district value has diminished, with some real estate agents stating that the premium associated with school districts is now negligible [10][12] - The rental market remains robust, with smaller units in nearby communities commanding high rental prices, indicating ongoing demand despite the challenges in the sales market [19]

Core Viewpoint - The emergence of a "price alliance" among homeowners in the Shanghai Yangpu District's Rongxin Century Jiangwan, with multiple similar properties listed at a uniform price of 14.6 million yuan, reflects a strategic attempt to stabilize property values amidst market fluctuations [1][8]. Group 1: Market Dynamics - The price of small units in the Century Jiangwan community peaked at 19,000 to 20,000 yuan per square meter before experiencing a significant decline due to market adjustments [1]. - Current listings show two 93-square-meter units priced at 14.6 million yuan, with others slightly varying around 14.59 million and 14.7 million yuan, indicating a price per square meter exceeding 15,000 yuan [1]. - The average listing price for second-hand homes in Century Jiangwan has surpassed 15,000 yuan per square meter, while the average transaction price in September was 13,500 yuan per square meter, highlighting a notable price discrepancy [8]. Group 2: Buyer Sentiment - Potential buyers express hesitation towards the 14.6 million yuan listings, noting that for the same price, larger and more desirable properties could be acquired in other areas [9]. - The lack of viewings for multiple listings, with some properties recording zero viewings in the past 30 days, indicates a cooling buyer sentiment and a rational market response [9]. - Buyers are considering new developments, such as Jianfa Haichen, which offers more competitive pricing at approximately 11,600 yuan per square meter, further emphasizing the price gap with existing second-hand homes [8]. Group 3: Price Trends and Comparisons - The price of school district properties in the New Jiangwan area has shown resilience, with previous transaction prices for smaller units reaching close to 20,000 yuan per square meter [10]. - The current market conditions have led to a perception that school district premiums are diminishing, with some agents suggesting that the value of school districts is now almost negligible [10]. - In contrast, other neighborhoods, such as Zhujiatan, have seen significant price reductions, with current listings reflecting prices comparable to those from 2015, indicating a broader trend of price stabilization across the market [12].

Core Viewpoint - The recent collective pricing strategy among homeowners in the Rongxin Century Jiangwan community has drawn market attention, reflecting a unique behavior in the current second-hand housing market characterized by "price for volume" [1][6]. Group 1: Pricing Strategy and Market Context - Homeowners in Rongxin Century Jiangwan have collectively set the listing price for five similar-sized units at 14.6 million yuan, translating to approximately 15.7 thousand yuan per square meter, which is unusual in the current market [1][6]. - Historical transaction data shows that this community has seen significant price appreciation, with average transaction prices ranging from 13.4 thousand yuan to 14.9 thousand yuan per square meter this year, and a peak price of 19.9 thousand yuan per square meter in August 2022 [6][7]. - The community's reputation for quality and the lack of new supply in the area have contributed to homeowners' confidence in maintaining higher prices [7]. Group 2: Market Pressures and Challenges - Despite the homeowners' confidence, the collective pricing faces challenges due to a disconnect between listing prices and recent transaction levels, with current listings priced about 15% higher than the latest transaction [8][10]. - New residential projects nearby, such as Jianfa Haichen, offer significantly lower prices, creating competitive pressure on the second-hand market [8][9]. - The potential influx of new housing supply in the New Jiangwan City area could further exert downward pressure on second-hand home prices [9][10]. Group 3: Market Transition and Future Outlook - The phenomenon of homeowners banding together to maintain prices indicates a shift in the real estate market from rapid growth to a more stable adjustment phase [11]. - The focus of buyers is shifting from speculative price appreciation to actual living value, emphasizing the importance of property quality and supporting amenities [11][12]. - New regulations aimed at improving housing quality are expected to influence market dynamics, with higher-quality projects showing better sales performance [12].