October 31, 2023, Fangmi News - Last week (Oct. 24-Oct. 30), the ranking of residential property sales in Xiamen's real estate market was released. Two major districts within the island area, Siming and Huli, sold a total of 76 units, accounting for 16.6% of the city-wide residential sales. The sluggishness of the island’s real estate sales can be largely attributed to its high housing prices. From the transaction data, it is evident that last week, most of the "notable performers" in the island's sales were quality large-scale projects and luxury properties. Leading the pack in island residential sales was Guotai Tianqin Bay [Details Consultation], which sold 12 units in a week — a figure that, while unable to match the hot-selling projects outside the island, is still impressive given the current sales market conditions, placing it tenth in the city-wide rankings. Other significant contributors to the island's sales figures include Shimao Hubin Garden, Huangjia Yucheng [Details Consultation], Strait International Community, Yuanchang Mountain Villa, China Railway Haixi, among others. This has led to a phenomenon where luxury properties remain unaffected by an otherwise cold market.
**Residential Sales Rankings for Oct. 24-Oct. 30**
**Distribution Map of Residential Sales in Xiamen for Oct. 24-Oct. 30**
**Luxury Housing: Beyond Restrictions, Purchase What You Need**
Unlike the market driven by rigid demand, the luxury and high-quality housing market doesn't have as many financial constraints. Therefore, luxury properties, aside from being subject to purchase restrictions, are still bought when needed. This explains why this segment of the market continues to see sales even in a downward trend. Island areas boast mature living facilities and convenient transportation, making them an attractive location for homebuyers. However, due to limited resources, only a few can afford these prime locations. High-quality luxury properties release their inventory gradually, and with the purchase restriction order set to expire on December 31, a rebound in the local market is expected.
**Guotai Tianqin Bay, Huangjia Yucheng**
**Choosing Wisely Over Price**
For some, a house is an asset; for others, it's simply a place to live; and for yet others, it symbolizes status and a way to enjoy life. Their philosophy is — choose what's right, not what's expensive. If it's the right choice, they will act if conditions allow. Currently, most luxury and high-quality residential properties come with certain living concepts. Whether it's location plus prestigious schools, artistic gardens, attentive property management, or scenic health-oriented designs, more and more advanced living concepts and premium qualities are impacting this segment of the housing market.
**Vanke Huxin Island [Details Consultation]**
(Source: Fangmi.com)
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