半月追踪 | 8月推盘“提质”拉动来访认购结构性回升

Core Viewpoint - The real estate market in August shows a phase of recovery, with a focus on "quality over quantity" in supply, leading to increased project sales rates in cities like Hangzhou and Wuhan [1][35]. Group 1: Market Trends - Since 2025, the overall real estate market has shown signs of stabilization after a decline, with a traditional "small spring" in March-April, followed by sustained market activity in May-June and a temporary adjustment in July [3]. - In early August, the average sales rate for projects in 30 key cities increased to 37%, a rise of 7 percentage points from June 2025 and 16 percentage points from August 2024 [5]. Group 2: City Performance - Cities are categorized into three types based on their recovery characteristics: 1. Core first and second-tier cities like Beijing, Shenzhen, Hangzhou, and Chengdu, where sales rates are significantly influenced by the quality of new supply [8]. 2. Cities like Wuhan and Nanjing, which are experiencing a weak recovery with low visitor and purchase rates starting to improve [9]. 3. Cities such as Xi'an and Zhengzhou, where visitor numbers are stable but purchase rates are declining, indicating a lack of momentum for growth [9]. Group 3: Specific City Insights - In August, Beijing's sales rate dropped to 5% due to individual project impacts, while Shenzhen, Hangzhou, and Chengdu maintained higher activity levels compared to the previous year [11]. - Wuhan has seen a significant increase in visitor and purchase rates, with the average sales rate rising to 45% in early August, up from 26% in July [17]. - Nanjing and Zhengzhou have shown stable visitor and purchase rates, with low conversion rates continuing to fluctuate [21][23]. Group 4: Challenges in Other Cities - Cities like Guangzhou, Xi'an, and Tianjin are facing significant declines in purchase rates, with conversion rates dropping as buyer sentiment remains cautious [27][28][31]. - In Guangzhou, visitor and purchase numbers fell sharply in early August, leading to a decrease in conversion rates [27]. - Xi'an has also experienced a continuous decline in conversion rates, indicating weak market growth potential [28].