Market Analysis - The Beijing second-hand housing market has shown a rebound trend recently, with 2,949 transactions in the latest week (July 21-27), a week-on-week increase of 4.4%, but still 39.6% lower than the peak in June (4,880 transactions) [4][5] - The average unit area has decreased to 91 square meters, the lowest in the past six weeks, indicating an increase in the proportion of small-sized units sold [4] - The transaction volume has shown a "high rebound - bottoming out" trend over the past six weeks, with a cumulative increase of 35.7% in the last two weeks of July, suggesting a gradual recovery in market activity [4] Shanghai Market - The Shanghai second-hand housing market has recently stabilized, with 4,478 transactions in the week of July 21-27, reflecting a week-on-week increase of 1.3%, although the transaction area slightly decreased by 0.5% [8][9] - The average unit area remains stable at 83 square meters, with transaction volumes fluctuating between 4,100 and 5,100 units over the past six weeks [8] - The market is in the late adjustment phase, with moderate recovery in transaction volume but not yet forming a trend of significant increase [8] Shenzhen Market - The Shenzhen second-hand housing market is experiencing a continuous cooling trend, with 1,039 transactions in the week of July 21-27, a week-on-week decrease of 6.0%, marking three consecutive weeks of decline [12][14] - The transaction area was 103,134.36 square meters, down 7.5% week-on-week, with a notable drop in transaction volume from a high of 1,222 units [12] - The average unit area has decreased from 102 square meters to 99 square meters, indicating an increase in the proportion of medium and small-sized units sold [12] Hangzhou Market - The Hangzhou second-hand housing market is showing a mild adjustment trend, with 1,231 transactions in the week of July 21-27, reflecting a slight week-on-week decrease of 0.2% [16][18] - The average unit area has compressed to 104 square meters, down 3.7% from mid-June, indicating an increase in demand for affordable housing [16] - The market is currently in a seasonal adjustment period, with transaction volumes stabilizing around 1,230 units [16] Chengdu Market - The Chengdu second-hand housing market has shown a stable trend, with 3,806 transactions in the week of July 21-27, a slight week-on-week increase of 0.8% [21][23] - The transaction area decreased by 0.7%, with the average unit area remaining at 94 square meters, reflecting an increase in the proportion of small-sized units sold [21] - The market has shown significant fluctuations, with transaction volumes stabilizing around 3,700 units since July, down approximately 18% from the June peak [21]

Core Insights - The second-hand housing market in Hangzhou experienced a decline in June, with transactions falling to 7,335 units, a decrease of 4.9% month-on-month and 17% year-on-year [3][11] - Despite the decline in June, the first half of the year saw a total of 48,926 second-hand homes sold, marking the highest figure in nearly four years [3][6] - The market is currently characterized as a "buyer's market," with over 180,000 listings and around 30,000 properties seeing price reductions each month [11] Market Performance - The second-hand housing transactions in Hangzhou have seen a three-month consecutive decline since reaching a peak of 12,413 units in March [3][6] - The average transaction price for residential properties in the first half of the year was 29,182 yuan per square meter, reflecting a slight decrease of 0.3% year-on-year and 0.1% month-on-month [3][6] - The proportion of transactions for homes priced under 2 million yuan increased to 46.1% in June, indicating a shift towards more affordable housing options [6] Popular Areas and Properties - The top-selling properties in June included those in the Qingshan Lake area, with the highest transaction being 27 units at Chengxiu Xinghui City, priced at 10,848 yuan per square meter [5][6] - Newly delivered properties in areas like Shinfang and Qianjiang Century City have been popular among buyers, with several new developments leading in transaction volumes [7][9] Future Outlook - The second-hand housing market faces challenges in the second half of the year, with the need for strong macroeconomic support and timely policy assistance to maintain transaction volumes [11] - The average time to sell a property on the Beike platform is currently around 8 months, indicating a slower sales environment [11]

Core Viewpoint - The real estate market in Qianjiang Century City, Hangzhou, has experienced a rapid decline in transaction volume and an increase in price reductions among homeowners, indicating a cooling market after a brief period of rising prices [1][5][8]. Group 1: Market Trends - In April, 78% of the adjusted second-hand homes in Qianjiang Century City were price reductions, an increase of 12% compared to March, making it the area with the highest proportion of price reductions [3][8]. - The transaction volume in April for second-hand homes in Qianjiang Century City dropped to 138 units, halving from 272 units in March [5][8]. - The number of property viewings in Hangzhou decreased by 23% in April compared to March, with Qianjiang Century City experiencing a 34% decline, the largest drop among all areas [7][8]. Group 2: Price Adjustments - A specific case in the Genesis community illustrates the trend: a homeowner raised the listing price by 100,000 yuan in March but reverted to the original price by mid-April due to market cooling, and further price reductions followed [8]. - Overall, in April, 92% of the second-hand homes in Hangzhou were listed at reduced prices, up from 88% in March, indicating a broader trend of price reductions across the market [8]. Group 3: Comparative Analysis - The price reduction proportions for various districts in Hangzhou show that Qianjiang Century City had a reduction rate of 78% in April, compared to 66% in March, reflecting a significant shift in market dynamics [9]. - The data indicates that while the market is cooling, the current prices in Qianjiang Century City are still better than the lows experienced in July to September of the previous year [8].

Core Viewpoint - The real estate market in the Huafeng area is showing signs of price stabilization after a previous surge, with some homeowners willing to negotiate on prices, indicating a shift in buyer sentiment and market dynamics [1][3][9]. Group 1: Market Trends - A recent drop in property prices in the Huafeng area has been observed, with a specific example of a property that was previously listed at 5 million yuan now being open to negotiation [1][3]. - Several properties in the area have seen significant price adjustments, with examples including a 139㎡ unit that dropped by 10 million yuan after a previous increase of 6 million yuan [5][6]. - The overall transaction volume in April has decreased compared to March, suggesting a cooling market, although certain properties still maintain reasonable sales activity [9]. Group 2: Buyer Behavior - The typical buyer, represented by the character Ye, is experiencing indecision between purchasing now or waiting for further price drops, reflecting a common sentiment among potential homebuyers [7][11]. - Many buyers lack the confidence to make decisive moves in the market, often influenced by external information and market fluctuations, leading to a tendency to delay purchases [9][11]. - The current market conditions may favor buyers looking to negotiate, as sellers are more open to discussions compared to previous months when they were less responsive [11].