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The real estate market is changing, and with the continuous advancement of urbanization and the change of people's lifestyles, some houses will no longer be popular in the future.
Insiders predict that there may be four types of houses that will gradually lose market favor in the future, the first of which you may guess, but the remaining three are quite unexpected.
Let's unmask these houses and see why they are falling out of favor.
First of all, the first type of house that everyone can easily guess is an ordinary house that does not have the advantages of a school district.
As the importance of educational resources grows, the value of school district housing continues to rise.
On the other hand, those ordinary houses that do not have the advantages of school districts, although the price may be relatively low, will gradually decline in market attractiveness because it cannot meet the needs of parents for high-quality educational resources.
Especially in first-tier cities, such as Beijing, Shanghai and Shenzhen, the price gap between school district and non-school district housing has widened significantly.
For example, the price per square meter of school district housing in Beijing's Xicheng District has exceeded 150,000 yuan, while the price of ordinary housing is only about 70,000 yuan, and this trend will only become more obvious in the future.
The second type of house is the low- and medium-rise residential buildings in high-rise buildings.
With the improvement of the quality of life, people's requirements for the living environment are getting higher and higher.
Low- and middle-rise residential buildings in high-rise buildings often face problems such as lack of daylight, poor ventilation and noise pollution, especially in high-density residential areas in urban centers.
In Guangzhou, for example, some low- and middle-rise residential buildings in Tianhe District have many buyers deterred by noise and air quality issues due to their street frontage or proximity to commercial districts.
In addition, the limited view of low- and mid-rise residences and the inability to enjoy the open views of high-rise residences are one of the reasons for their diminished appeal.
The third type of house is a residential complex that lacks supporting facilities.
Modern life is fast-paced, and the demand for convenience is getting higher and higher.
If a residential area lacks the necessary living facilities, such as supermarkets, hospitals, schools, public transportation, etc., it will be difficult to attract buyers.
In some new areas of Chengdu, due to imperfect planning in the early stage of development, many residential communities lack basic living facilities, and residents' lives are extremely inconvenient.
Housing price growth in these communities has been sluggish, and there has even been a phenomenon of price inversion, where the price of new homes is higher than the price of second-hand homes, resulting in low return on investment.
The fourth category of houses is luxury homes that are over-renovated.
In recent years, there have been many luxuriously furnished high-end residences in the real estate market, and developers are trying to increase the added value of their homes through luxury renovations.
However, luxury renovations often do not meet the aesthetic and functional needs of all buyers, but instead increase the burden on buyers.
For example, some high-end residential communities in Nanjing are not selling well because the decoration style is too luxurious and does not meet the actual needs of most buyers.
In addition, luxury renovations come with high maintenance costs, further reducing the attractiveness of the house.
To better understand these trends, let's look at some specific data and examples.
According to the 2023 China Real Estate Market Report, the price of housing in school districts in first-tier cities across the country has increased by 12% year-on-year, while the price of ordinary homes has increased by only 3%.
This data fully illustrates the impact of educational resources on housing prices.
In addition, the report also pointed out that the transaction volume of high-rise residential low- and medium-rise properties has been declining year by year in the past two years, with the proportion of low- and medium-rise residential transactions in cities such as Beijing, Shanghai and Guangzhou falling from 35% in 2018 to 20% in 2023.
For residential communities that lack supporting facilities, the data shows that the increase in housing prices is significantly lower than that of communities with complete supporting facilities.
For example, in a residential community in a new district of Wuhan City, due to the lack of commercial and educational resources in the surrounding area, the housing price increase was only 2%, while the housing price of the community with complete supporting facilities in the same district increased by 8%.
This shows that supporting facilities are becoming more and more important in supporting housing prices.
As for over-renovated luxury homes, according to market research, more than 60% of buyers prefer to choose simple decoration or even rough houses, because they can personalize the decoration according to their preferences and needs.
In addition, the high maintenance cost of luxury renovation is also one of the important reasons why buyers are discouraged.
To sum up, the development trend of the real estate market in the future has gradually emerged, and the investment of buying a house needs to be more cautious.
The advantages of school district housing will continue to expand, while ordinary homes without the advantages of school districts will face market pressure.
Low- and mid-rise residential buildings in high-rise buildings will gradually become less attractive due to lighting, ventilation and noise issues.
Residential communities lacking supporting facilities will be at a disadvantage in the market competition, while over-renovated luxury residences will not be optimistic because they cannot meet the needs of the public.
In this context, when choosing a property, buyers should comprehensively consider various factors such as educational resources, living environment, supporting facilities and decoration costs, avoid blindly following the trend, and invest rationally.
At the same time, real estate developers should also follow the market demand and reasonably plan and design real estate projects to meet the actual needs of home buyers and the future market development trend.
In the future, only those houses that truly meet the needs of people's lives can be invincible in the fierce market competition.
Let's look forward to a healthier, more rational and more sustainable real estate market in the future.
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-ENDS-
Text: Wind
Audit|Ancient Oasis