深圳最新的一次土拍，让二手房再受“重击”

Core Viewpoint - The real estate market in Shenzhen is experiencing a stark contrast between the new housing and second-hand housing markets, resembling a roller coaster ride with significant differences in trends [1]. Group 1: New Housing Market - On July 7, a land auction in Longhua District saw intense competition, with China Overseas Land & Investment winning the bid for 2.37 billion yuan, resulting in a floor price of approximately 38,975 yuan per square meter and a premium rate of 40.74% [3]. - The new housing market is characterized by high premium rates in land auctions, and certain key cities are beginning to show signs of price increases [5]. - The land in Longhua has a low plot ratio of 2.8, indicating potential for developing high-density residential communities, which could lead to higher living quality and better utilization rates compared to existing residential areas [6]. Group 2: Second-Hand Housing Market - As of July 7, there were 75,169 valid second-hand housing listings in Shenzhen, an increase of 1,311 from the previous week, marking a new high in available inventory [4]. - The average transaction cycle for second-hand homes in June was 244 days, which, while a decrease of 13 days from the previous month, remains high compared to the same period last year [4]. - The second-hand housing market is under pressure, with sellers resorting to price reductions to attract buyers, as the new housing market offers better value propositions in terms of location, plot ratio, and living quality [8]. Group 3: Market Dynamics - The contrasting trends between new and second-hand housing markets are leading to a challenging environment for second-hand properties, which struggle to compete on price and quality [8]. - Despite the challenges, the volume of second-hand housing transactions has increased significantly, with a 30.7% year-on-year growth in contracts recorded in the first half of 2025 compared to the same period in 2024 [11]. - The increase in second-hand transactions may stimulate demand for new homes, creating a cycle that could benefit both markets [12]. Group 4: Overall Market Strategy - The overall strategy for stabilizing the real estate market involves managing land inventory in lower-tier cities while providing quality improvement products in first- and second-tier cities [14]. - The importance of property liquidity is emphasized, as a gradual price decline across multiple transactions can mitigate risks associated with significant price drops [15]. - The current market dynamics suggest that while second-hand prices are declining, the volume of transactions remains relatively stable, indicating potential for future recovery [16].