Core Viewpoint - The article discusses the intense marketing competition in the real estate market of major cities in China as developers adopt aggressive discount strategies to attract buyers amid a challenging market environment [3][10]. Group 1: Marketing Strategies - Developers are offering significant discounts and promotional packages, such as "98% discount for first-day registration" and "95% discount with additional incentives" to boost sales [4][6]. - The "first live, then buy" plan introduced by some developers allows potential buyers to experience living in a property before making a purchase decision, reflecting a shift in marketing tactics [8][9]. - In Hangzhou, high-end properties are now offering substantial incentives, such as free parking spaces, which were previously sold at high prices, indicating a change in buyer incentives [9][10]. Group 2: Market Dynamics - The shift in buyer inquiries from "points eligibility" to "discount rates" highlights the changing priorities of consumers in the current market [11]. - The competitive landscape has intensified, with many projects resorting to discounts before even launching, a stark contrast to previous practices where properties were sold at full price initially [6][11]. - According to research by CRIC, 87% of projects that achieved sales success utilized pricing strategies, while over half employed innovative marketing methods, indicating a trend towards aggressive sales tactics [12][13].

Core Insights - The real estate market in major cities is experiencing intense marketing battles as developers offer significant discounts and innovative sales strategies to attract buyers amid a challenging market environment [1][5][7]. Group 1: Discount Strategies - In Shanghai, the new project "Zhonghuan Ludao" announced discounts of 2% for general buyers and 3% for one-time payments, along with a year of free property management for early registrants [2][4]. - Competitors like "Jinju Park East Sequence" are offering even steeper discounts, including a 5% reduction, a 1,000 yuan parking space purchase option, and gift cards for early registrants [4][6]. - In Guangzhou, the "Try Before You Buy" initiative allows potential buyers to move in for a month with a 100,000 yuan deposit, deferring the purchase decision [5][6]. Group 2: Market Dynamics - The shift in buyer inquiries from "Are my points enough?" to "What discounts are available?" reflects the changing dynamics in the real estate market [7][8]. - The competitive landscape has intensified, with developers needing to adapt their pricing strategies to attract buyers, as evidenced by the aggressive discounting seen in various projects [7][8]. - According to research from CRIC, 87% of successful projects utilized price-based strategies, while over half employed innovative marketing techniques [8].

中经记者 陈婷 赵毅 广州报道 珠实地产相关负责人表示，"先住后买"意在消除购房人"开盲盒"的焦虑，是破解民生痛点、回应"优 居"需求的切实行动。通过"先住后买"模式，让客户对项目的产品品质、社区环境、社区配套和物业服 务等各方面有更加深入的了解，真正做到"所见即所得"。 记者注意到，就在今年8月初，珠实地产曾推出"保价"措施，覆盖广州区域7个在售楼盘，声称："保价 到年底，买贵补差价。"买贵可申请差额补偿（最高20万元物管费）。 （编辑：赵毅 审核：童海华 校对：颜京宁） 日前，广州房企珠实地产宣布推出2025"先住后买"计划，开展周期为2025年10月31日至11月30日，其旗 下参与项目范围包括珠江花城、天河壹品、云湖花城3个项目特定现楼房源。 据介绍，参与上述计划的客户交纳10万元意向金，签署"先住后买协议"，并办理入住体验房源手续后即 可入住。该计划旨在降低客户购房门槛，并满足客户快速入住的需求。"先住后买"体验期内支付首付款 的同时完成全部贷款手续或全款支付，并完成网签，即可正式购房。若客户选择退出"先住后买"计划 （即住后不购房），则按照签订的"先住后买"协议约定的条款，由客户承担相应金额的房屋 ...

Core Points - The "2025 Good Housing Renewal Season" event was launched in Guangzhou, with 100 real estate projects participating to offer discounts for homebuyers during the traditional peak buying season of "Golden September and Silver October" [1][2] Group 1: Event Overview - The event is organized by the Guangzhou Real Estate Industry Association and aims to provide various purchasing incentives to homebuyers [1] - A total of 100 real estate projects are involved, with significant participation from various districts, including 18 from Baiyun District, 15 from Haizhu District, and 14 from Panyu District [2] Group 2: Discount Offers - Discounts include purchase coupons ranging from 30,000 to 100,000 yuan, with additional offers such as "move-in ready" homes and "old-for-new" exchange programs [2] - Specific projects, such as those by Zhu Shi Real Estate and Vanke, are offering substantial discounts and additional incentives like home appliance packages and reduced management fees [2] Group 3: Consumer Experience Initiatives - The event features differentiated offers catering to various buyer needs, including fully furnished homes, free trial stays, and exclusive discounts for residents affected by urban renewal [2][3] - A unique initiative allows customers to experience a three-day, two-night free stay at selected properties to assess the living environment and service quality [3] Group 4: Industry Commitment - Major real estate companies, including Poly Development and Vanke, signed a commitment to ensure transparent pricing and eliminate hidden discounts in the home buying process [3]

Core Insights - Guangzhou's real estate market is transitioning to a "mainly existing homes" phase, with existing home inventory surpassing pre-sold homes for the first time, indicating a significant structural change in the market [1][3][4] Market Trends - As of mid-2025, the available inventory of residential properties in Guangzhou is 14.47 million square meters, with existing homes accounting for 7.42 million square meters (51.3%) and pre-sold homes at 7.05 million square meters (48.7%) [3] - Nationwide, existing home sales area reached 163 million square meters in mid-2025, a year-on-year increase of 12.5%, while pre-sold home sales decreased by 10.6% to 296 million square meters [3] Consumer Preferences - The preference for existing homes is driven by the "seeing is believing" principle, as buyers seek certainty in delivery and wish to avoid risks associated with pre-sold homes, such as project delays and quality issues [3][4] Regional Supply - Existing home projects are now available across all districts in Guangzhou, including key areas like Tianhe and Huangpu, with some projects already in the delivery phase, allowing for immediate occupancy [4] Policy and Market Dynamics - The increase in existing home inventory has sparked discussions on optimizing the pre-sale system, as current practices place significant risk on buyers [5][6] - Experts suggest that a balanced risk-sharing mechanism is needed, where the risks associated with home purchases are more evenly distributed between developers and buyers [5] Implementation of New Sales Models - Cities like Xinyang have begun implementing a "pay and receive" model for existing home sales, with over 30 provinces in China introducing related policies since late 2022 [6] - Guangzhou is considering pilot programs for existing home sales in areas with high inventory, while also addressing the need for developers to adapt to changing market conditions [6]

Core Viewpoint - Guangzhou state-owned enterprise Zhu Shi Real Estate has launched a "price protection action" for its seven main properties, promising to compensate buyers for price differences until December 31, 2025 [1][2] Group 1: Price Protection Strategy - The price protection strategy is essentially a marketing tactic aimed at attracting first-time homebuyers by providing an additional layer of security [1][2] - The properties involved are located in Tianhe, Liwan, Baiyun, and Zengcheng districts, with compensation for price drops up to 200,000 yuan in property management fees [2] - This initiative is an extension of previous promotional activities, including discounts and property management fee waivers [2][3] Group 2: Market Context and Trends - The real estate market in Guangzhou has shown signs of weakness, with a nearly 25% month-on-month decline in new residential sales in July, dropping to 4,787 units [1][4] - The trend of self-initiated price protection measures by real estate companies has become increasingly common in recent years, with similar actions noted in other cities like Shenzhen [4] - The expectation of declining property prices has led to longer decision-making periods for buyers, increasing the urgency for such price protection measures [5]

Core Viewpoint - The real estate market in first-tier cities is actively responding to adjustments, with Guangzhou's state-owned enterprise, Zhu Shi Real Estate, launching a "price protection action" for its main properties, promising to compensate for price drops until December 31, 2025 [1][5]. Group 1: Market Performance - In July, Guangzhou's new residential sales dropped nearly 25% month-on-month to 4,787 units, while second-hand residential sales fell 9.39% to 8,926 units [2]. - The total number of signed contracts in Guangzhou for July was 4,784 units, reflecting a 29.6% month-on-month decline, with a total area of 519,384.3 square meters, down 35.8% [8]. Group 2: Price Protection Strategy - Zhu Shi Real Estate's price protection initiative covers seven main properties across four districts, offering compensation for price drops in the form of property management fee reimbursements, with a maximum amount of 200,000 yuan [3]. - The price protection strategy is seen as a marketing tactic that provides a sense of security for homebuyers, particularly for first-time buyers [2][5]. - Previous promotional activities included offers such as "trade-in discounts" and "free property management for nine years," indicating a trend of evolving marketing strategies [3]. Group 3: Industry Trends - The price protection measures are becoming increasingly common in the market, with other developers like Yuexiu Real Estate and Poly also implementing similar strategies in recent years [6]. - In Shenzhen, several properties have also introduced price protection agreements, reflecting a broader trend in core cities facing market softness since July [7]. - Experts suggest that while price protection promises may seem appealing, their legal enforceability is questionable, as many are not included in purchase contracts, potentially leaving buyers without recourse if prices fall [8].

Investment Rating - The industry rating is optimistic, expecting overall returns to exceed the CSI 300 index by more than 5% in the next six months [11]. Core Insights - The report highlights that the real estate sector is experiencing a positive market trend, with the Shanghai Composite Index and Shenzhen Composite Index rising by 0.34% and 1.42% respectively on August 11, 2025. The Shenwan Real Estate Index increased by 1.24% [3]. - Specific developments include the planning adjustments in Shenzhen's Guangming District, which involve four residential land plots with varying land areas and floor area ratios [5]. - Guangzhou's state-owned enterprise, Zhujiang Real Estate, has initiated a price guarantee action for seven projects, promising to compensate buyers for price differences until the end of the year [6]. Market Performance - The top five performing stocks in the real estate sector include Shen Property A, Wantong Development, Tianbao Construction, Fuxing Shares, and Jintou City Development, with respective increases of 10.01%, 9.96%, 6.65%, 6.41%, and 6.01%. Conversely, the largest declines were seen in Rongfeng Holdings, Yatong Shares, Huali Family, Guangming Real Estate, and Shangshi Development, with decreases of -4.81%, -2.92%, -1.70%, -1.11%, and -1.04% [4]. Company Announcements - Huazhong City Holdings announced a suspension of trading due to a court-ordered liquidation [9]. - Zhuhai Huafa Industrial Co., Ltd. adjusted the coupon rate of its corporate bonds from 3.90% to 2.30%, with a total issuance of 2 billion yuan and a maturity of five years [9]. Industry News - The Shenzhen Intermediate People's Court announced the auction of the Shenzhen Huangting Plaza, with an estimated value of 4.361 billion yuan and a starting price of approximately 3.053 billion yuan [8].

Core Insights - The recent surge in home buying activity in Tianhe, particularly at the LianTou WenJinFu project, indicates a significant shift in the local real estate market driven by the influx of villagers participating in the housing exchange program [1][3][7] Group 1: Market Dynamics - The number of replacement housing options for villagers has increased from 5 to 9, which has led to heightened competition in the real estate market [3] - Tianhe district achieved a record of 1,044 new home registrations in June, surpassing other districts like Zengcheng and Panyu [8][11] - Six out of the top ten new home projects in Tianhe for the first half of the year were included in the housing exchange program, highlighting the program's impact on sales [11][12] Group 2: Sales Performance - The sales performance of several projects has seen dramatic increases, with the Zhongjian Tianhe Jingcheng No. 1 project experiencing a 3,700% month-over-month increase in June [13] - The overall sales momentum continued into July, with nearly 480 units sold in the first week alone, indicating strong demand [15] - The total available units in Tianhe are reported to be 7,142, suggesting a potential for rapid sales if the current trend continues [15] Group 3: Developer Strategies - Developers are actively implementing strategies to attract villagers, including offering free transportation and gifts, to capitalize on the housing exchange trend [19] - The success of the Huangpu district in utilizing the housing exchange model has set a precedent, with over 1,100 units sold and more than 20 billion yuan in funds circulated [22] Group 4: Broader Implications - The trend of using existing new homes for relocation purposes is expected to grow, as traditional motivations for home buying are diminishing [24][26] - The overall inventory in Guangzhou has increased, with Tianhe facing a longer absorption period compared to other districts, indicating a supply-demand imbalance [26]