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zhang ke, a shanghai resident who is currently buying a house, discovered that in the "one house, one price list" of many real estate projects, the unit price of large-sized residential houses is several thousand yuan higher per square meter than that of small-sized houses, and they are always sold out first.

zhang ke remembers that when he bought a house 12 years ago, small apartments were still popular. not only were small apartments more expensive, but they also sold faster. at the end of the new housing estate, the only ones left were large apartments.

zhang ke was somewhat surprised by the market changes: "the market has quietly changed! the era of large-sized apartments has arrived."

since the beginning of this year, the four first-tier cities and some core cities have introduced new policies in the real estate market, encouraging the transaction of large-sized properties or encouraging real estate companies to develop larger housing products. data recently disclosed by 58 anjuke research institute shows that the new home market in shanghai has gradually transformed into a market dominated by the improvement group. the supply and demand of newly renovated three-bedroom products in the new home market are the absolute main force, and luxury products over 140 square meters have a trend of explosion; the guangzhou real estate market has a high demand for economical three-bedroom and four-bedroom products, and such products are already in short supply.

a developer told reporters that real estate companies are researching new products with larger areas. however, currently in first-tier cities, compact three-bedroom apartments with three bedrooms and two bathrooms in an area of ​​about 100 square meters still meet the most customer demand.

core cities are encouraging large-sized apartment transactions

beijing recently introduced a new policy, announcing that the standards for general housing and non-general housing that have been implemented for many years may be cancelled. this is seen by the industry as a measure to encourage transactions of large-sized houses.

on september 20, the beijing municipal committee of the communist party of china issued the implementation opinions on the decision of the cpc central committee on further deepening reform and promoting chinese-style modernization (hereinafter referred to as the "opinions"). the opinions mentioned that the real estate policy should be optimized and the standards for ordinary residential and non-ordinary residential properties should be cancelled in due course. last year, beijing optimized the standard for identifying ordinary residential properties, increasing the floor area of ​​a single housing unit from 140 square meters to 144 square meters, and canceling the total price limit.

the adjustment of the standard for identifying ordinary houses mainly affects the deed tax on house transactions. when an individual sells a house, ordinary residential houses that have been sold for more than two years are exempt from value-added tax, and non-ordinary residential houses that have been sold for more than two years are subject to value-added tax on the difference, at a rate of 5%.

once beijing officially cancels the identification standards for ordinary houses and non-ordinary houses, the transaction stamp duty for large houses will be further reduced.

about a month ago, shanghai also relaxed the "7090" standard that had been in effect for 18 years. on august 27, the shanghai municipal housing and urban-rural development commission, the housing management bureau and the planning and resources bureau jointly issued the "notice on optimizing the supply structure of new commercial housing land in the city". the notice clearly stated that the building area standards for small and medium-sized housing units have been raised compared to before, which means that the "7090" policy that has been in effect for 18 years has come to an end in shanghai. in the future, more large-sized houses will enter the market.

the so-called "7090" policy originated from the "several opinions on implementing the requirements for the structural ratio of newly built housing" issued by the ministry of housing and urban-rural development in 2006, which clearly stated that the proportion of housing area with a unit construction area of ​​less than 90 square meters in the total area of ​​commercial housing must reach more than 70%.

the latest notice clarifies that the construction area standards for small and medium-sized commercial housing in multi-storey, small-high-rise and high-rise buildings in shanghai have been adjusted to 100 square meters, 110 square meters and 120 square meters respectively, which is 10 to 20 square meters more than the original standards. in terms of the proportion of small and medium-sized housing supply, the area between the inner and outer ring roads shall not be less than 70%, the area within the middle ring shall not be less than 60%, the new town and the key areas of the north-south transformation shall not be less than 60%, and other areas outside the outer ring shall not be less than 50%.

previously, the shanghai lingang management committee conducted a survey, which found that 78% of talents hope to buy housing larger than 90 square meters, and about half of them hope to buy housing larger than 120 square meters.

the latest adjustment means that even small apartments in shanghai’s real estate market will start at 100 square meters.

another first-tier city, shenzhen, cancelled the "7090" policy five months earlier than shanghai. on march 26 this year, there was news that the shenzhen municipal planning and natural resources bureau issued a notice on stopping the implementation of the "notice on implementing the residential unit ratio requirements in accordance with national policies", and then relevant personnel from the shenzhen municipal planning and natural resources bureau confirmed the news.

first-tier city guangzhou is encouraging the transaction of large-sized properties by relaxing the purchase restrictions on large-sized residential properties. on january 27 this year, the general office of the guangzhou municipal people's government issued the "notice on further optimizing the policies and measures for the stable and healthy development of the real estate market in our city", which stated that within the purchase restriction area, the purchase of housing with a construction area of ​​more than 120 square meters (excluding 120 square meters) will not be included in the purchase restriction scope.

the municipality of tianjin also followed guangzhou's footsteps and issued a new policy in april this year, announcing that residents with tianjin household registration who purchase a single new commercial housing unit of more than 120 square meters in the six districts of tianjin will no longer be required to verify their home purchase qualifications. soon after, it was announced that people and employed persons with beijing and hebei household registrations can enjoy the same housing purchase policies as residents with tianjin household registration.

shanghai sees explosive demand for apartments larger than 140 square meters

does the continuous introduction of real estate policies that encourage the purchase of large apartments mean that the demand structure of the real estate market has changed?

in the past, during the era of rigid demand, the unit price of small apartments was generally higher than that of large apartments, because small apartments were in greater demand and were more suitable for first-time homebuyers to "get on board"; however, in recent years, the pricing strategy of the real estate market has quietly changed, and now the unit price of large apartments in most real estate projects is higher than that of small apartments, and they can also be sold out earlier.

58 anjuke research institute recently studied the changes in supply and demand of housing products in several core cities over the years. the latest data disclosed by it shows that shanghai's new home market has gradually shifted to a market dominated by improvement groups. the supply and demand of newly renovated three-bedroom products in the new home market are absolutely dominant. luxury housing products above 140 square meters have a trend of explosive growth, and the sales cycle is relatively short. four-bedroom products of 140 to 180 square meters are quite popular. at the same time, developers should make cautious decisions on whether to promote two-bedroom products when doing new projects.

the data from the institute also show that the guangzhou real estate market has a high demand for economical three- and four-bedroom products, and such products are in short supply. against the backdrop of the relaxation of the birth policy, buyers' demand for homes with multiple bedrooms is gradually growing, with guangzhou being the most prominent.

according to cric research center, sales of large-sized and high-end residential properties in shanghai have been booming this year. in the first half of the year, a total of 1,544 large-sized and high-end residential properties with a total price of more than 30 million yuan were sold in shanghai, the largest scale in the past 10 years.

zhang bo, director of the 58 anjuke research institute, told the first financial reporter that the current real estate industry has reached a critical "turning point". the market has shifted from solving the problem of "whether or not there is a house" to solving the problem of "how good it is". improving housing quality and allowing people to live in better houses is an inevitable requirement for the high-quality development of the real estate market. however, there is indeed a structural supply shortage in the market at this stage, and there is a mismatch between supply and demand of housing products in many regional markets.

judging from the current main groups of home buyers, young people of generations such as those born after 1995 and 2000 will need larger private space when buying a house, young parents need bedrooms that can accommodate cribs and childcare space, and families with only one child also need to consider living with their parents. therefore, the rising demand for larger apartments is the mainstream trend.

however, zhang bo told reporters that the mismatch between supply and demand is dynamic, and not all cities have a supply gap for large apartments. take changsha as an example. before the epidemic, large apartments over 150 square meters were in great demand. however, in recent years, there has been a large demand for small apartments in changsha, and the demand for large apartments has been decreasing. zhang bo said this is related to population mobility in changsha. after changsha lifted the purchase restrictions, a large number of residents from other cities in hunan came to changsha to buy houses, but their demand was mainly for small apartments.

a person working in product design at a central enterprise developer told the reporter that although everyone wants to live in a bigger house, whether large apartments are really popular in the market is also closely related to the overall economic environment and residents' purchasing power.

the person said that after the relaxation of the "7090" policy, the industry noticed that the product design of many new plots in shanghai did not undergo radical or particularly large adjustments. due to the decline in purchasing power, in first-line sales, developers found that many buyers were not sensitive to the increase in house area, but were more sensitive to the increase in total price.

"in actual work, we feel that the compact three-bedroom, two-bathroom apartment of 100 square meters still carries the most customer needs, from singles, newly married couples to families with children and even three generations living together. for developers, product positioning must be marketable and able to capture mainstream customers." the person said.

in the past, the mainstream housing type in the real estate market was "three bedrooms in one hundred square meters", which generally had an interior area of ​​only more than 70 square meters. although it could achieve the ultimate functional pursuit, it also caused many living pain points due to being too compact. for example, the master bedroom could not have a bedside table, and the smallest room could not even accommodate a bed.

an insider of a shanghai developer told the reporter that although the "three-bedroom apartment per 100 square meters" will not be eliminated by the market, it will gradually be optimized. for example, the original products within 100 square meters will now be around 105 square meters. developers are also trying to make more products with an area of ​​100 to 120 square meters. in addition, the proportion of improved area segments in real estate projects will also be adjusted from about 20% to 40%.

(at the request of the interviewee, zhang ke is a pseudonym in this article)