Group 1 - Urban renewal has become a key focus in the real estate market, with various cities actively addressing challenges and reviving stalled projects [1][2] - The Jinzuan Haoyuan project in Shenzhen's Luohu District, known as one of the most difficult to renovate, has faced multiple obstacles since being included in the renovation list in 2010, including high-profile "nail households" and developer financial issues [1] - A consortium led by CITIC has been selected as the market cooperation entity for the Jinzuan Haoyuan project, with a revitalization plan agreed upon after two months of negotiations [1] Group 2 - The Bujin Nanmen Dun urban village renovation project in Longgang District, Shenzhen, has made progress after being stalled due to the developer's financial troubles since 2021 [2] - The Huatai community in Futian District has transformed into the "New World Xiangmi Four Seasons Garden" project after nearly 15 years of renovation, with new units set to be launched at an average price of 131,200 yuan per square meter [2] - Many urban renewal projects in Shenzhen face issues such as high plot ratios and inadequate commercial and office space configurations, leading to a prevalence of "skyscraper residential buildings" [2] Group 3 - The Shenzhen Municipal Planning and Natural Resources Bureau has commissioned a study focusing on issues related to excessive plot ratios, building heights, and oversupply of commercial office space in urban renewal projects [3] - Recent policy acceleration across various regions aims to enhance urban renewal efforts, with expectations for more detailed supportive policies to emerge [3] - The sustainable urban renewal model is anticipated to play a significant role in stabilizing growth, expanding domestic demand, and improving livelihoods, contributing to the transformation of urban development methods and high-quality urban growth [3]

Group 1 - The new residential project, New World Xiangmi Seasons, is generating significant market interest due to its limited supply in the core area of Futian, with over 3,800 customer appointments for viewings despite only a few hundred units available for sale [2][6][9] - The project has a complex history, having undergone a 15-year urban renewal process from its original form as Huatai Community, which was recognized for redevelopment in 2005 and officially started in 2013 [4][6] - New World Group, the developer, has a strong background in urban renewal projects and has established a significant presence in the real estate market, with total assets exceeding 100 billion yuan and operations in key cities both domestically and internationally [6][9] Group 2 - The project is expected to have a high price point, with initial estimates suggesting prices for 105 square meter units could range from 13 million to 14 million yuan, translating to over 120,000 yuan per square meter [9][11] - Comparatively, the pricing may not offer a significant advantage over nearby properties, which have lower average prices, although the delivery standards differ, with New World Xiangmi Seasons offering only basic functional finishes [9][11] - The project has a high plot ratio of 7.6, which raises concerns about living density compared to other recent developments in Shenzhen, where the average plot ratio is around 3.1 [11][13] Group 3 - The project includes a mix of residential, hotel, and public housing units, which may dilute the luxury appeal and affect the living experience, potentially limiting future price appreciation [13][20] - Despite some doubts about its location being marketed as part of the "Xiangmi Lake" luxury area, the project does benefit from strong transportation and commercial amenities, including proximity to major shopping centers and schools [18][20] - The project is set for delivery in 2027, raising concerns about potential delays and the developer's financial stability, which could impact the quality of construction and delivery timelines [20]

Core Insights - The Shenzhen Housing and Construction Bureau announced the planned pre-sale of commercial housing for the third quarter of 2025, with 33 projects expected to enter the market, totaling a supply area of 1.3512 million square meters and 12,351 units [1] - Compared to the same period last year, there is a significant decline in commercial housing supply, with a drop of over 25% in both the number of projects and residential units [2] - The reduction in inventory is reflected in transaction data, with a year-on-year increase in pre-sale residential transactions, indicating a potential market recovery [3] Supply Overview - In Q3 2025, 33 commercial housing projects are set to be launched, with residential projects making up the majority at 31 projects, covering an area of 1.08 million square meters and 10,673 units [1] - The supply breakdown includes 2.51 million square meters of serviced apartments (129 units), 6.93 million square meters of commercial space (710 units), and 17.7 million square meters of office space (839 units) [1] - The main supply areas include Bao'an with 7 projects (3,364 residential units) and Guangming with 5 projects (1,702 residential units) [1] Year-on-Year Comparison - In Q3 2024, there were 44 projects with a total supply area of 2.0246 million square meters and 18,150 units, indicating a significant decrease in supply for Q3 2025 [2] - The residential supply area in Q3 2024 was 1.4912 million square meters with 14,955 units, showing a decline in both metrics in 2025 [2] - The downward trend in supply began earlier in 2025, with a notable reduction in the first half of the year [2] Market Dynamics - In the first half of 2025, the number of new residential units supplied was 13,877, down 28.6% year-on-year, with a supply area of 1.398 million square meters, reflecting a five-year low [2] - The average transaction price for new residential properties has decreased, but the decline is less severe compared to the previous year, indicating price stabilization [3] - The reduction in interest rates, with a 45 basis point drop in both 1-year and 5-year LPR, has led to increased promotional efforts by developers, making home purchases more affordable [3] Future Outlook - The current market conditions present a favorable window for potential homebuyers due to policy easing and lower costs [3] - There is an expectation for further policy measures to stimulate market demand, alongside improved market confidence due to easing trade tensions [3]

Core Viewpoint - The article discusses the marketing strategy and potential implications of the New World Xiangmi Four Seasons Garden project in Shenzhen, which is leveraging the prestigious "Xiangmi Lake" branding despite its actual location being outside the traditional Xiangmi Lake area [1][6][19]. Group 1: Project Overview - The New World Xiangmi Four Seasons Garden has garnered significant market attention even before its marketing center and model homes have opened, indicating strong demand [1][6]. - The project is marketed as a "benchmark luxury residence" and "new luxury residence" associated with the Xiangmi Lake area, which is known for its high property values and premium amenities [6][13]. Group 2: Location and Market Positioning - The project is located at the intersection of Xiangmei Road and Xinwen Road, which is technically outside the traditional Xiangmi Lake area, raising questions about the accuracy of its marketing claims [13][20]. - The Xiangmi Lake area is defined by specific geographical boundaries, and the New World project does not fall within these boundaries, which could mislead potential buyers regarding its value and amenities [16][22]. Group 3: Market Dynamics and Pricing - The project is situated in the JingTian area of Shenzhen, and its pricing should be compared to that of the JingTian district rather than the more expensive Xiangmi Lake area [28]. - Expected pricing for the project ranges from 115,000 to 120,000 per square meter, but there are concerns about its ability to sell effectively given the high price point and the mix of housing types, including public housing and commercial apartments [28][31]. Group 4: Product Composition - The project includes a mix of residential units, public housing, and commercial apartments, with a significant portion of the units being designated for relocation and affordable housing [31]. - The high density of the project, with a plot ratio of 7.94 and only 30% green space, may not align with the expectations of luxury homebuyers in the current market [29][31].