Group 1 - The core viewpoint of the article is that the housing prices in 70 major cities in China have shown a decline in sales prices month-on-month, although the year-on-year decline has narrowed overall [1] - In July, new home prices in Shanghai and Urumqi increased by 0.3%, while Sanya and Yichang rose by 0.2%, and Changchun and Changde saw a 0.1% increase [1] - For second-hand homes, only Taiyuan experienced a month-on-month increase of 0.2%, while all other cities reported declines [1] Group 2 - In Changsha, new home prices fell by 0.4% in July, ending a previous trend of four consecutive months of price increases [2] - The decline in Changsha's new home prices is attributed to the traditional off-peak season for the real estate market in July, leading to weakened demand [2] - Additionally, the market is experiencing an oversupply due to previous inventory accumulation, and consumer caution has led to reduced market activity, prompting developers to lower prices to stimulate sales [2]

Market Overview - In July, Hangzhou's new housing market experienced a significant decline in both supply and demand, with total transactions dropping to 2,845 units, a 59% decrease from June's 6,960 units and a 27% decrease year-on-year from July 2022's 3,901 units [1] - The total new supply in July was only 2,310 units, a 62% decrease from June's 6,053 units, marking the lowest monthly supply of the year [1] Key Projects and Performance - The top-selling projects in July were primarily from the "Bingjiang" area, with the "Binghang Binfen City" project leading sales with 206 units sold at an average price of 17,600 yuan per square meter [1] - The "Mulan Tai" project in the Qiantang District sold 153 units at a price of 31,309 yuan per square meter, while "Shizhouli" in Yuhang District sold 149 units at an average price of 34,015 yuan per square meter [1] Upcoming Market Activity - August is expected to see a more active new housing market in Hangzhou, with 36 projects scheduled to launch, including 20 new developments [3] - The luxury market is set to introduce several high-end projects, including "Aoying Mingcui Fu," which launched 74 units at an average price of 87,000 yuan per square meter, attracting significant buyer interest with a low lottery rate of 12.23% [4] New Developments - Several new projects are preparing for launch in August, including "Lichangting" and "Jianfa Yingguan Chenyun," which will offer high-rise and townhouse options with prices expected to exceed 55,000 yuan per square meter [5][6] - The "Yuehaitang" project in the Xihu District is set to launch with an expected price in the "30000s" range, targeting first-time buyers and those looking for improved living conditions [7][8]

Core Viewpoint - The real estate market in major cities such as Beijing, Shanghai, Guangzhou, and Shenzhen experienced a collective decline in transaction volumes in July, attributed to multiple factors including extreme weather, policy effects waning, and a stalemate in price expectations between buyers and sellers [1][7][8]. Summary by Sections Transaction Volume Trends - In July, Beijing's second-hand housing transactions fell to 12,784 units, a decrease of 15.6% month-on-month and 17.9% compared to 2024 [3]. - Shanghai's second-hand housing transactions dropped to 19,337 units, a 7% decrease from June and a 5% decline year-on-year [4]. - Guangzhou reported 8,962 second-hand housing transactions, down 9.39% month-on-month and 10.68% year-on-year [4]. - Shenzhen was the exception, with a 3.4% increase in second-hand housing transactions, totaling 4,656 units [4]. New Housing Market Performance - The new housing market in these cities saw even more significant declines, with Shanghai's new residential transactions down 40.6% month-on-month [5]. - Guangzhou's new housing transactions fell by 25% to 4,874 units, while Shenzhen's new housing transactions decreased by 24.1% to 1,441 units [6]. Market Analysis and Future Outlook - Experts suggest that the recovery of transaction volumes in first-tier cities may not occur until September, as July is traditionally a slow season for real estate [7][9]. - The market is currently characterized by a price stalemate, with sellers reluctant to lower prices and buyers expecting further declines [3][9]. - Despite the downturn, the overall transaction volumes remain above critical thresholds, indicating resilience in the market [9].

Core Viewpoint - The real estate market in major cities such as Beijing, Shanghai, Guangzhou, and Shenzhen experienced a collective decline in transaction volumes in July, with the new housing market seeing particularly significant drops, especially in Shanghai where the decline exceeded 40% [1][5]. Group 1: Transaction Volume Trends - In July, Beijing's second-hand residential transactions fell to 12,784 units, a decrease of 15.6% month-on-month and 17.9% compared to the same month in 2024 [3]. - Shanghai's second-hand housing transactions reached 19,337 units, a month-on-month decline of 7% and a year-on-year decrease of 5% [4]. - Guangzhou's second-hand residential transactions totaled 8,962 units, with a month-on-month decline of 9.39% and a year-on-year drop of 10.68% [4]. - Shenzhen was the only city to see an increase, with second-hand residential transactions rising by 3.4% to 4,656 units [4]. Group 2: New Housing Market Performance - In Beijing, new residential transactions fell to 2,881 units in July, a decrease of 27.6% month-on-month and 29.6% year-on-year [6]. - Shanghai's new residential transactions saw a significant drop, with a 40.6% decrease in transaction area compared to June [6]. - Guangzhou's new residential transactions decreased by 25% month-on-month, with a total of 4,874 units [7]. - Shenzhen's new residential transactions also fell by 24.1%, totaling 1,441 units [7]. Group 3: Market Influencing Factors - The decline in transaction volumes is attributed to multiple factors, including extreme heat, typhoon impacts, and a lack of new supportive policies following previous real estate incentives [1][9]. - The market is currently characterized by a stalemate between buyers and sellers, with sellers holding onto previous price expectations while buyers anticipate further price declines [3][9]. - The overall market sentiment is cautious, with increased listing volumes in major cities indicating a shift towards a buyer's market [10].

Core Insights - The real estate market in Dongguan shows a significant decline in new residential sales, with a total of 1,322 new units sold at an average price of 22,162 yuan per square meter in April, indicating a drop in both volume and price compared to the previous month [1][5] - In contrast, the second-hand housing market performed better, with 3,085 units sold at an average price of 15,419 yuan per square meter, reflecting an increase in both volume and price [1][4] New Residential Market - The new residential market in Dongguan saw a total of 1,322 units sold, with an average price of 22,162 yuan per square meter, marking a decline in both sales volume and price compared to the previous month [1][5] - The highest average price for new residential units was recorded in the Nancheng district at 42,513 yuan per square meter, followed by Dongcheng at 41,973 yuan per square meter [3] - Only three districts reported over 100 new residential sales, with Songshan Lake High-tech Zone leading at 388 units sold [3] Second-hand Housing Market - The second-hand housing market had 10 districts with over 100 units sold, with Nancheng leading at 268 units, followed by Changping at 222 units [4] - The average price for second-hand housing in the Songshan Lake High-tech Zone was the highest at 29,705 yuan per square meter, with Nancheng and Dongcheng following at 20,950 yuan and 20,485 yuan respectively [4] Market Outlook - Analysts predict that the Dongguan real estate market may experience a slight decline in prices in May, as the market is currently in a traditional off-peak season with increased supply of second-hand homes and reduced promotional efforts for new homes [5][7] - The increase in second-hand listings and a shift in buyer preference towards second-hand homes are contributing factors to the current market dynamics [6][7]