地产观潮丨二手房市场，“今年的情况有些不同”

Core Viewpoint - The second-hand housing market in key cities is showing signs of recovery, indicating a potential "small spring" in the real estate market driven by policy support and market dynamics [1][6]. Group 1: Market Performance - In January, Shenzhen's second-hand housing transactions reached 6,661 units, a month-on-month increase of 2.4%, with residential transactions up 6.9% to 5,281 units [5]. - The Shenzhen Real Estate Association reported a total of 6,802 second-hand housing transactions in January, marking a 2.9% month-on-month increase and a significant 45.5% year-on-year increase, the highest in nearly 10 months [5]. - The transaction volume in Shenzhen has remained above 5,000 units for 11 consecutive months, indicating a sustained market resilience [5]. Group 2: Market Sentiment and Trends - Real estate agents in Shenzhen noted an increase in client inquiries and transactions, with some homeowners adjusting their pricing strategies based on market conditions rather than personal expectations [4][6]. - The rental yield for some properties has become attractive, with one example showing an annualized rental yield close to 3%, which is influencing buyer behavior [3]. - The overall sentiment in the market is improving, with a notable increase in viewing and transaction volumes compared to previous years, suggesting a shift in buyer confidence [4][6]. Group 3: Broader Market Implications - The recovery in the second-hand housing market is not limited to Shenzhen; other key cities like Beijing and Shanghai also reported transaction volume increases of over 20% year-on-year in January [6]. - The overall second-hand housing market across 13 key cities saw transaction area growth of 16% and 33% year-on-year and month-on-month, respectively [6]. - Analysts suggest that the market is entering a phase of stabilization, with various factors such as improved public sentiment, financial market effects, and demand for quality housing contributing to this trend [8][9].