2025年1月上海住宅买卖市场

Investment Rating - The report does not explicitly provide an investment rating for the Shanghai residential market Core Insights - The new housing supply in Shanghai has shown a seasonal decline, with a total of 12 new launches in January, a decrease of 34 from the previous month, but a slight year-on-year increase in transactions [3][4] - The supply-demand ratio for new homes in Shanghai is currently at 1.02, with new inventory of approximately 160,800 square meters, marking the lowest levels in a year and a half due to government supply adjustments and market confidence boosts [4] - The proportion of high-priced properties (over 7 million yuan) in transactions reached 45%, with properties over 10 million yuan accounting for 28% of the total [5] Summary by Sections New Housing Market - In January, the new housing market experienced a seasonal decline in supply, with a total of 12 new launches, down 34 from the previous month, but showing better performance compared to the same period last year [3] - The new housing supply-demand ratio is at 1.02, with new inventory at approximately 160,800 square meters, the lowest in 18 months [4] Second-Hand Housing Market - The transaction volume for second-hand homes in January was approximately 16,000 units, a 39% decrease month-on-month, with an average price of 40,407 yuan per square meter, showing a slight structural increase of 1 percentage point [7] - The demand for second-hand homes continues to be driven by upgrading needs, with properties priced over 5 million yuan accounting for 21% of transactions [9] Regional Performance - The Xuhui district showed strong performance, with four of the top ten transaction areas located within it, while overall city performance was slightly better than that of peripheral areas [11][12] - The average transaction price for popular districts has increased, with the average price for second-hand homes reaching 4.36 million yuan per unit, a 42% increase [16]