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Reporter of China Business Network: Chen Ronghao Editor of China Business Network: Chen Mengyu

Shenzhen Hyde Park Project Daily Economic News Data Map

In less than 3 hours, all 116 apartments were sold out, and Shenzhen’s first day-sale apartment of the year finally arrived.

On July 21, the Hyde Garden project attracted widespread attention in the market due to the fourth daylight. The official sales plan shows that there are 6 buildings and 116 units of residential housing for pre-sale, with a single residential area of ​​about 87 square meters to 450 square meters, and rough delivery, with an average price of 128,500 yuan per square meter, and the expected delivery time is before November 30, 2024.

On the morning of July 22, a reporter from the Daily Economic News inquired about the project's sales status in the name of a home buyer. The staff who answered the phone told the reporter, "The project has been sold out at present."

Four times of daylight

As a popular real estate project in Shenzhen, Hyde Garden has been receiving high attention from the market since its first launch on November 22, 2021.

A reporter from the China Business Network found that before this, Hyde Garden had already achieved three openings and three "sunlight sales".

On November 22, 2021, Hyde Garden Area B was launched for the first time, with an average pre-sale price of 126,000 yuan/square meter for unfinished houses. 181 units were launched with an area of ​​121 to 296 square meters.

On May 20, 2022, the first batch of Hyde Garden Area A obtained certificates and was opened for sale. The average pre-sale price of unfinished houses was 126,000 yuan/square meter. 239 units were launched with an area of ​​143 to 251 square meters.

On June 1, 2023, the second batch of Hyde Garden Area A obtained certificates and was launched for sale. The average pre-sale price of unfinished houses was 126,000 yuan/square meter. 237 units were launched with an area of ​​86 to 161 square meters.

Although the units are sold out every time they are launched, the minimum entry score threshold for the project is constantly decreasing. When it was first launched in November 2021, the minimum entry score was 62.2 points, while when it was launched in June last year, the entry score was 52.5 points.

Sunlight discs are becoming increasingly scarce

In the past two years, it has become increasingly rare for new housing projects in Shenzhen to be sold out upon launch.

According to a previous report by Daily Economic News, in April last year, Shenzhen had its first day-sale project of the year - Longgang Buji Xinyi Lijing Royal Garden, with an average registered price of 79,200 yuan per square meter.DuplexThe total price ranges from 7.06 million to 8.62 million yuan.

Data from Shenzhen Centaline Property Research Institute shows that in the first half of 2024, a total of 48 new residential houses were launched on the market, and only 6 projects had a sales rate of more than 50%, which was a significant decrease compared with previous years. In the first half of the year, the overall sales rate of residential projects was less than 20%, and more than half of the projects had a sales rate of less than 10%. Most of them were located in Longgang, Longhua, Guangming, Pingshan and other areas. The degree of regional differentiation has intensified, and the overall performance is not as good as the same period in previous years.

Shenzhen's luxury housing market also saw a decline in transaction volume in the first half of this year.

According to Shenzhen Centaline data, the transaction volume of luxury homes in the first half of the year hit a new low in the same period in the past six years, with 1,329 units sold, a month-on-month decrease of 46.9%; the transaction area was 184,000 square meters, a month-on-month decrease of 44.6%.

Against this backdrop, new housing launch days appear even more scarce in Shenzhen’s real estate market.

In addition, judging from the current real estate market situation in Shenzhen, a more obvious signal has emerged: the transaction volume of second-hand houses has begun to be significantly higher than that of new houses, and with the decline in second-hand housing prices, the inverted price gap between new and second-hand houses is also weakening.

According to statistics from Midland Realty National Research Center, in June, a total of 2,927 new residential properties were registered in Shenzhen, up 45.7% from the previous month and down 4.0% from the previous year; a total of 4,172 second-hand residential properties were registered, up 5.3% from the previous month and up 73.3% from the previous year.

The reason why Hyde Garden is so popular in the market is not only because of the scarcity of the luxury house itself, but also because of the inverted situation between the project and the surrounding second-hand housing market.

In the past two years, although the prices of second-hand houses in luxury housing projects such as Anluan Mansion, Tianjian Mansion and Vanke Zhenshan Mansion around Hyde Garden have fallen back, there is still a significant price difference compared to the average sales price of less than 130,000 yuan per square meter in Hyde Garden Area A.

According to Lianjia data, as of July 22, the listed prices of Anluan Mansion owners were mostly above 160,000 yuan/square meter; the listed prices of Tianjian Mansion owners were mostly above 150,000 yuan/square meter.

Public data shows that there are 54 residential projects coming to the market in Shenzhen in the second half of the year, including Phase II of Shenzhen Bay Jiuxu, Shangcheng Academy, Yueyunjing, Runlongyuan, Qingyanli, etc.

Daily Economic News