"The focus of different developers on 'good houses' is significantly different. Most projects focus on the yield rate and the ratio of households, while some improved real estate projects have begun to make efforts in interior decoration and garden upgrades." On the morning of April 23, Xiao Xiong, a local real estate agency in Guangzhou, told the reporter of "Daily Economic News" on the phone.

On April 21, the Guangdong Provincial Government held an analysis meeting on the economic situation in the first quarter of the province. The meeting emphasized that we must continue to work hard to promote the real estate market to stop falling and stabilize, strengthen the planning, design and construction of "good houses", and vigorously promote urban renewal and urban village transformation.

The "Guangzhou City 2025 Housing Development Annual Plan" released on March 31 also mentioned that it is necessary to build green, low-carbon, intelligent and safe "good houses", launch higher quality and more comfortable residential products, promote the construction of "good houses" for affordable housing, and combine the renovation of old housing to build old houses into "good houses".

"With the improvement of people's living standards and the change of consumption concepts, home buyers are paying more and more attention to the quality of the house and the living experience." On the afternoon of April 23, Liang Zhongxian, deputy general manager of Hefu Huihuang Guangzhou Company, said in an interview with a WeChat reporter of the China Business News that according to the market transaction situation in recent years, most projects with good supporting facilities, complete functions, good apartment design, intelligent design, and new materials investment have been welcomed by the market.

What's the good thing about a "good house"?

"In the Guangzhou market, developers will basically work hard to compare housing yields with ladders." Xiaoxiong told the reporter of Meike that, relatively speaking, improvement projects are more willing to focus on product quality than those of urgently needed projects, including decoration materials selection, garden creation, and supporting clubs.

Xiaoxiong said, "In the past, the housing yield rate of housing was generally 70% to 80%, but the housing yield rate of newly launched housing supply since this year can basically reach 100%, or even higher. For example, Tianhe Duhui’s house yield rate in Tianhe was 120%, Yuexiu Gui Yuedong from Haizhu knew the housing yield rate was 130%, and Nansha’s China Merchants Linyujing’s house yield rate reached 140%.

Pictures of community garden landscape created by a real estate project in Guangzhou: Photo by Chen Ronghao, a reporter from China Business News

During the communication with some local developers in Guangzhou, the reporter of Meike also learned that some improved real estate projects are focusing on building "good houses".

In summary, interior decoration uses international first-line brand decoration materials, from floors, bathrooms to kitchen appliances, all of which use environmentally friendly and durable high-end products; community gardens introduce immersive landscape design, and ecological waterscapes, theme gardens and health trails are set up. At the same time, it is equipped with a high-end community club, covering a constant temperature swimming pool, gym, private cinema and other facilities, providing owners with diversified leisure and social space.

Taking Poly Tianyi, a high-end improvement property located in Pazhou South District, Haizhu District, Guangzhou as an example, the project related person told the reporter of the Meike that the property adopts a full-north north-south lattice layout and high and low levels in planning for ventilation and lighting, reflecting the proprietary characteristics of the livable and low-carbon design of the "good house" space. In addition, multiple world-class garden design techniques have been introduced into community gardens.

The China Merchants Linyujing project located in Nansha, Guangzhou adopts sky gardens, split-level balcony, vertical greening and other designs, with a maximum house yield of 140%.

The project marketer told the reporter of Meike that China Merchants Linyujing is the first fourth-generation residential project in Guangzhou to be "exceeding new regulations". Benefiting from the planning adjustment of the balcony and terrace area by relevant policies, the housing yield rate has been greatly improved. Taking the 110 square meters apartment as an example, the 4+1 bedroom apartment is super equipped with 1 bedroom + 34 square meters of main double terrace, "in fact, it can be comparable to the living experience of a 170 square meters apartment."

Focus on "residence experience upgrade"

In Liang Zhongxian's view, the "good houses" in the Guangzhou market used to be more of the possession of location and resources, but now they focus on "residence experience upgrade", which has a lot to do with the changes in land planning conditions.

"In the past, a large amount of high-volume land has led to high and dense projects being built. Now the government has started from the source and greatly reduced the floor area ratio of newly auctioned plots. Guangzhou has put forward quality requirements for key areas in land transfer, such as the planned floor area ratio of Yuexiu and Tianhe, which has lowered from the past 3.0-5.0 to the present 2.0, providing a spatial basis for the low-level household ratio."

Liang Zhongxian said that the current government encourages the expansion of the balcony area ratio, from 20% in the past to 30% in the present, even 40%, which makes it possible for real estate projects with a housing rate of 120%-130%. These are prerequisites for building "good houses". "I think the 'good house' is built around three keywords: quality comfort, smart technology and the full life cycle."

From the perspective of the agency Xiaoxiong, the government is now promoting "good houses" to encourage developers to make good products. "Imagine that in the same area, when the products are similar, the housing yield rate of one project is 80%, while the housing yield rate of another project is 130%. Which one would you choose?"

Picture source of a project in Nansha, Guangzhou: provided by the interviewee

According to the observation of a reporter from Meike, as the "good house" projects continue to enter the market, the transaction volume of the Guangzhou real estate market has also continued to rise since this year.

According to data from the Guangzhou Housing and Urban-Rural Development Bureau, in the first quarter of this year, the online signing area of ​​first-hand commercial housing in Guangzhou was 2.1856 million square meters, an increase of 17.7% year-on-year; the registered area of ​​second-hand commercial housing transactions was 2.8258 million square meters, an increase of 27.6% year-on-year. As of the end of March, the inventory area of ​​first-hand residential buildings in Guangzhou was 10.2262 million square meters, a decrease of 566,400 square meters from 10.7926 million square meters at the end of last year, and the inventory destocking cycle was shortened to 14.3 months.

Speaking of the future development trend of "good houses" in the Guangzhou market, Liang Zhongxian pointed out that the hardware standards of the current new generation of "good houses" have reached a very high level. This includes the standards of the new generation of property from garden design, architectural structure to community intelligence, the creation of public areas, as well as apartment layout and interior decoration. "I think that in the future, the 'good house' will present a deep transformation from hardware iteration to service ecosystem reconstruction, from a single community to urban micro-unit linkage."

Liang Zhongxian said that in the second-hand housing market, houses with these "good houses" characteristics are easier to transfer, and the rent level is relatively stable. In order to improve the quality of life and pursue a new generation of "good houses", some customers are also willing to sell old properties at relatively low prices. This reflects the market's recognition of "good house" products.

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