5月楼市成交趋稳 广州、深圳楼市持续去库存

Core Viewpoint - The real estate markets in Guangzhou and Shenzhen have entered a stabilization phase after the "golden three silver four" period, with mixed performance in transaction volumes and prices [2][3]. Transaction Data - In May 2025, Shenzhen recorded 3,162 new residential transactions, a month-on-month decline of 14.4%, while second-hand residential transactions totaled 4,687, down 18.2% month-on-month but up 18.3% year-on-year [2]. - Guangzhou's new residential transactions reached 6,573 in May 2025, marking a month-on-month increase of 41% and a year-on-year increase of 29.34% [2]. - The second-hand residential market in Guangzhou saw 9,228 transactions in May 2025, with significant year-on-year growth of 17.73% [7]. Market Dynamics - Despite some localized growth, developers are generally cautious, slowing down the pace of new launches and experiencing reduced sales velocity [3][4]. - The inventory of new homes in Shenzhen decreased slightly, with 26,343 units remaining as of the end of May, reflecting a 1,719 unit drop from April [4]. - The average de-stocking period for new homes in Shenzhen is approximately 7.5 months, with significant disparities in sales performance across different districts [4]. Price Trends - In Shenzhen, the average transaction price for second-hand homes in May was 61,200 yuan per square meter, down 2.9% month-on-month, while the listing price remained stable at 65,000 yuan per square meter [6]. - Guangzhou's real estate market is experiencing upward momentum in transaction volumes, primarily driven by urban renewal projects, with certain districts showing significant increases in demand [7]. Future Outlook - The market is expected to see several quality new projects launched in June, which may help revive market activity [3][8]. - The performance of new and second-hand homes will continue to be influenced by the availability of quality listings and the overall economic fundamentals, including employment and income levels [6][8].