First, Basic Concepts of Real Estate (1) Basic Concepts: Real estate refers to the land, buildings and attachments fixed on it, as well as parts that cannot be separated. It also includes various rights derived from them. Rights refer to legal entitlements, interests, and profits, including both legal and economic attributes, carried by the natural attributes of real estate. Simply from an economic perspective, real estate is a combination of property and land. In terms of living necessities, property and land belong to the category of wealth; in terms of production materials, they fall under the category of assets. In the above definition, "non-separable" means that they cannot be separated or, if separable, would severely damage the function, value, and integrity of the real estate. Non-separable parts include plants, trees, or artificial courtyards, rockeries planted on the land to enhance the utility of the real estate, as well as water, heating, electricity, ventilation, fire protection, elevators, and other equipment installed to improve the functionality of buildings. This leads to the concept of "real property," which refers to objects that cannot be moved or whose value and function would be greatly damaged if moved. This includes real estate, dams, airports, ports, underground projects, etc. Therefore, real property is a broader concept than real estate.
(2) Property Classification:
(1) According to the use of buildings:
1. Residential properties: Including apartments, villas, etc.
2. Commercial properties: Including houses directly used for business activities such as office buildings, commercial-residential buildings (Oriental Mingyuan), shopping malls, hotels, etc.; including houses used by the tertiary industry such as hotels, banks, postal services, inns, restaurants, etc.
3. Industrial properties: Including factories, workshops, warehouses, etc.
4. Special properties: Including government offices, museums, grand theaters, golf courses, airports, etc.
(2) According to the number of floors:
① Low-rise: 1-3 floors, below 12 meters flat houses, villas
② Multi-story: 4-6 floors (6 to 7), 24 meters > h > 12 meters
③ Small high-rise: 7-13 floors, height exceeds 24 meters
④ High-rise: 14-24 floors
⑤ Super high-rise: more than 25 floors, or greater than 100 meters (such as Shangmao Century Plaza with a plot ratio of 16.7)
(3) According to residential structure:
① Brick-concrete structure: A structural form where brick masonry and reinforced concrete components work together. Convenient for sourcing local materials, saving steel, cement, and construction costs, but walls cannot be knocked down, difficult to modify housing types, poor seismic performance, used for multi-story buildings.
② Frame structure: A structural system composed of linear members such as beams and columns. Flexible frame structure layout, large indoor space can be obtained, but poor ability to bear horizontal loads, and often incomplete rooms due to column positions, affecting furniture arrangement, reducing usage rate. Used in multi-story factories, shopping centers.
③ Shear wall structure: A structural system composed of transverse and longitudinal load-bearing walls. Good overall spatial integrity, high resistance to lateral forces, but not easy to arrange large spaces, mainly applicable to high-rise residences, apartments, and hotels.
④ Frame-shear wall structure: Appropriate shear walls are arranged in the frame structure system, forming a structural system where frames and shear walls work together. Combines the flexibility of frame structures with strong seismic resistance and good stiffness, suitable for all kinds of super high-rise residences and public buildings.
⑤ Frame-cylinder structure: Designed in a conical shape, like Shanghai Jinmao Tower.
(3) Attributes of Real Estate:
1. Natural Attributes:
① Fixity: Belongs to immovable property. General commodities: fixed production sites, product circulation; real estate commodities: mobile production process, fixed product location.
② Exclusivity: There are no two completely identical real estate commodities (like leaves), at least the locations are different (leading to differences in lighting, ventilation, also the basis for one-price-per-unit).
③ Permanence: Refers to the fact that land as a material asset in real estate can be perpetually utilized (does not depreciate or become obsolete), and due to its rigid natural supply (very small elasticity), i.e., scarcity, land rights will be infinitely traded under the participation of capital and gradually preserve and increase in value.
2. Economic Attributes:
① Quasi-commodity nature: Can be transferred, rented out, etc., but does not possess all the attributes of a commodity, such as inability to freely circulate itself, only the flow and transaction of ownership.
② Value differentiation: Many factors influence the value and price of real estate, making it difficult to measure using simple input-output or cost-profit methods. More often, it is the result of value deviations caused by non-economic factors, evident in China's less developed market economy and even less developed real estate market. Includes political situation, macroeconomic situation, zoning planning policy factors, individual special factors' impact. This makes the price difference of real estate significant, increasing the risks associated with real estate development and operation.
③ Appreciation: The use value of real estate does not decrease with time, generally having the function of preservation and appreciation, hence people use it not only as a general commodity for consumption but also as capital investment for profit and currency storage.
Second, Basic Concept of Residential Areas
1. Plot Ratio: The ratio of the total floor area of all types of buildings within the residential area to the total land area of the residential area. From the homeowner's perspective, the plot ratio partially indicates future living comfort; under similar selling prices and other conditions, the lower the neighborhood plot ratio, the higher the living comfort. From the developer's perspective, the plot ratio directly determines the salable floor area on a fixed land area, thus determining the project's investment return level. Under similar selling prices, sales rates, and other conditions, the higher the neighborhood plot ratio, the more salable area, and the larger the project profit margin. However, the plot ratio is subject to the highest limit set by the Planning Bureau's control design. But given the current development and competition intensity of the real estate market, these relationships are not absolute but relative. Generally, in Nanjing villa areas: between 0.3-0.8; ordinary multi-story + small high-rise mixed communities: between 0.8-1.5; small high-rise dominated communities: between 1.5-2.2; urban single high-rise properties (office buildings, commercial-residential buildings, high-rise residential buildings, etc.): 3-16, such as Shangmao Century Plaza with a plot ratio of 16.
2. Building Density (Coverage Rate): The ratio of the total base area of all types of buildings within the residential area to the total land area of the residential area. To some extent, building density reflects the compactness of buildings in the residential area, related to building spacing, panoramic view openness, green space ratio, etc. Generally, the building density of mixed communities is 20%-35%, while that of single buildings can be as high as 50% or even 70%.
3. Green Space Ratio: The ratio of the total green space area within the residential area to the total land area of the residential area. To some extent, it reflects the quality of the community landscape environment.
4. Building Spacing: Ensures that the direct sunlight duration for the first floor is not less than 2 hours during the winter solstice each year. Building Spacing Coefficient: The ratio of the horizontal distance between building exteriors to the vertical distance from the northern eaves edge of the southern building to the outdoor ground level elevation of the northern building.
"The Detailed Rules for the Implementation of the Nanjing Urban Planning Regulations" were revised on July 15, 1998:
(1) For newly constructed multi-story buildings located southward and parallel to residential buildings, when the building orientation angle is between 0° and 30° southeast or southwest, the building spacing coefficient must be no less than 1.0 in old districts and no less than 1.2 in new districts; when the building orientation angle is between 30° and 45° southeast or southwest, the building spacing coefficient must be no less than 0.9 in old districts and no less than 1.1 in new districts. If the calculated spacing is less than 15 meters, it shall be executed as 15 meters;
(2) For multi-story buildings located southward but not parallel to residential buildings, the building spacing shall be implemented according to the provisions of item (1) of this clause, but the calculated distance shall be based on the smallest end;
(3) The spacing between the main part of a high-rise building and the residential buildings to its north should comply with the following requirements: it shall not be less than the east-west length of the rectangular envelope of the main part of the high-rise building in the true north-south direction, and if the calculated spacing is less than 30 meters, it shall be executed as 30 meters;
Third, Basic Concepts of Housing Types
1. Unit Type: Refers to the structure and type of complete housing units composed of different usable areas and living spaces. Emphasizes descriptions from the perspectives of area and structure.
Small Two-bedroom: 70-85 square meters, economical and practical, generally popular in suburban areas of Nanjing.
Large Two-bedroom: 85-100 square meters, spacious and comfortable, suitable for high-priced housing projects in Nanjing.
Small Three-bedroom: 100-115 square meters, economically practical.
Ordinary Three-bedroom: 115-125 square meters, comfortable.
Large Three-bedroom: 125-140 square meters, spacious and luxurious.
Special-sized units in cities like Shenzhen and Shanghai, extremely economical and compact. Due to varying housing price levels and living habits, the size standards differ across cities.
Unit Types:
Flat:
Staggered Level: Staggered by one step, three steps, ten steps (e.g., Shanghai Mingzhu Garden).
Duplex: Complete two levels connected via internal stairs, downstairs cannot see upstairs. Duplexes are usually located on rooftops.
Loft: Inspired by duplex design, incomplete two levels, upper level has low ceilings, actually dividing taller heights (usually less than 4.3 meters) into two levels, downstairs can see upstairs (living room with double-height ceiling). Lofts are typically located on rooftops or ground floors (e.g., Aoli Jiayuan).
Penthouse/Stacked Penthouse: Intermediate floors with mezzanines used for kitchens and dining areas, generally located in middle floors (e.g., Fangyuan Luyin).
2. Unit Layout: Represents the characteristics of a group of social members commonly occupying a unit residence, such as single-person households, three-person families, or multi-generational households. Focuses on describing family population structure. Currently, in communication, unit types, layouts, and house types are often mixed. Selection can be made based on different emphases.
3. Span: The distance between the axes of two cross-walls in a room. A smaller span enhances the stability and earthquake resistance of the residence but is unfavorable for ventilation, lighting, and panoramic views.
4. Depth: The distance between the axes of two longitudinal walls in a room. For a residential building, the depth is the distance between the outer surfaces of the two external longitudinal walls. Larger depths help increase the plot ratio of residential areas but reduce lighting and ventilation for spaces far from windows and doors. If divided, it reduces the number of south-facing rooms, potentially creating some dark rooms.
5. Floor Height and Net Height: Floor height refers to the distance between the upper and lower floors or the floor and the ground; net height refers to the distance between the upper surface of the lower floor slab and the lower surface of the upper floor slab. Relationship: Net height = floor height - slab thickness. Span, depth, and floor height are three measurement parameters constituting the three-dimensional space of a residence. Generally, the larger the span and floor height, the higher the cost and worse the structural stability, but the better the living comfort and more market appeal. Therefore, residential design needs to handle this relationship well.
6. Bedroom: A space used for sleep and rest by residents. Can be divided into master bedroom, double bedroom, single bedroom, children's bedroom (children's room), servant's bedroom, etc.
7. Living Room: A space used for guests, entertainment, and family gatherings by residents. Also known as the living hall or living room, large units may have leisure and entertainment halls.
8. Basement and Semi-basement: Basement: A space where the room floor is more than half the clear height below the outdoor ground level. Semi-basement: A space where the room floor is more than one-third but less than half the clear height below the outdoor ground level.
9. Orientation, Sunlight, and Ventilation: Conflicts between orientation and panoramic views, and between orientation and the overall planning of the residential area. People in Nanjing value orientation, with southeast orientation facilitating ventilation through cross-drafts.
Fourth, Area Measurement
"Rules for Calculating Saleable Area of Commercial Housing and Allocating Common Building Area"
1995.12.11
1. Gross Floor Area: The gross floor area of the standard floor of a residence is calculated based on the horizontal projection area enclosed by the outer surface of the exterior wall structure, the outer edge of the column, and the centerline of the boundary wall with adjacent residents. When an insulation layer is provided on the exterior wall (such as the external insulation technology of Ju Fu Yuan), the calculation is based on the outer surface of the insulation layer. The area of sloping roofs is calculated separately: parts below 2.2 meters are not counted towards the gross floor area.
2. Internal Gross Floor Area = Internal Usable Area + Internal Wall Area + Balcony Floor Area
3. Internal Usable Area: Also known as net usable area or carpet area.
4. Internal Wall Area = Half of the horizontal projection area of shared walls (partition walls between units in commercial housing, partition walls between units and common building spaces, exterior walls (gable walls) are all shared walls) * Full horizontal projection area of non-shared walls.
5. Balcony Floor Area: Fully enclosed balconies are calculated based on their horizontal projection area; non-enclosed balconies (protruding balconies) are calculated based on half their horizontal projection area.
6. Common Building Area:
(1) Scope (Definition): Taking a residential building as the object, the common building area consists of the following two parts:
① Elevator shafts, stairwells, garbage chutes, transformer rooms, equipment rooms, public entrances, corridors, basements, guard rooms, and other common-use rooms and management rooms serving the entire building.
② Half of the horizontal projection area of the partition walls between units and common building spaces, as well as half of the horizontal projection area of exterior walls.
(2) Common Building Area Calculation Principle:
Total common building area of the entire building = Total gross floor area of the entire building - Sum of internal gross floor areas of all units in the entire building - Gross floor area of basements, garages, and air-raid shelters sold or leased as independent use spaces. Air-raid shelters do not count towards common building area.
(3) Common Building Area Allocation Coefficient:
For single-function buildings: Common building area allocation coefficient = Total common area of the entire building / Sum of internal gross floor areas of all units in the entire building.
For multi-functional buildings: Public areas serving a specific function are allocated to that function. For example, in Shangmao Century Plaza, the 11th-floor equipment level serves the mall, so it counts towards the mall's common allocation area; the 32nd-floor equipment level and the first-floor lobby mainly serve the office building, so they count towards the office building's common allocation area. The usable area rate for office buildings and malls are different. The usable area rate for the mall and residential units in Dongfang Mingyuan are also calculated separately.
(4) Common Building Area Allocation Calculation:
Multiply the internal gross floor area of each unit by the common building area allocation coefficient to obtain the reasonable common building area that buyers should allocate. Each unit's allocated common building area = Common building area allocation coefficient * Internal gross floor area.
7. Saleable Area = Internal Gross Floor Area + Allocated Common Building Area
Usable Area Rate: Taking a residential building as the object, Usable Area Rate = Sum of internal gross floor areas / Total gross floor area.
Note: Parameters such as common building area allocation coefficients and usable area rates are all calculated based on the entire residential building.
Fifth, Real Estate Transactions
1. Real Estate Transaction Methods: Transfer, Lease, Mortgage, Trust, Pawn, etc.
Real Estate Mortgage: Refers to the act of a mortgagor providing debt security to the mortgagee without transferring possession of their legally owned real estate. If the debtor fails to fulfill the debt, the creditor has the right to be repaid preferentially from the proceeds of the auction of the mortgaged real estate.
Pawn: Transfer of possession method, no rent on the house, no interest on money; if pawn period expires without redemption, the property is confiscated.
Trust: Real estate trust refers to the act of a settlor entrusting their real estate to a trustee based on trust in the trustee, who manages or disposes of it in their own name according to the settlor's wishes for the benefit of the beneficiary, interests, or a specific purpose. It mainly includes financial trust business, property trust business, etc.
Self-benefit Trust: The settlor is also the beneficiary; Other-benefit Trust: The beneficiary is a third party outside the settlor and trustee.
2. Real Estate Transfer: The act of a real estate owner transferring their real estate to others through sale, exchange, gift, or other lawful means. Mainly includes the following methods:
① Sale
② Exchange
③ Gift: Inheritance tax, write names during contract signing father, mother, children father's name: after passing away, mother 50%+25%, children 25% father's name + children's name: after father passes away, mother 25%, children 50%+25% Follow this