Market Overview - The Beijing second-hand housing market shows signs of stabilization and recovery, with transactions reaching 2,997 units from July 28 to August 3, marking a week-on-week increase of 1.6% [4][5] - The Shanghai second-hand housing market is experiencing a mild recovery, with transactions of 4,743 units in the same week, reflecting a week-on-week growth of 5.9% [8][9] - The Shenzhen second-hand housing market is cooling down, with transactions dropping to 964 units, a decrease of 7.2% week-on-week, marking the lowest level in six weeks [12][13] - The Hangzhou second-hand housing market is stabilizing, with transactions of 1,280 units, up 4.0% week-on-week [17][18] - The Chengdu second-hand housing market is showing a clear warming trend, with transactions increasing to 4,205 units, a rise of 10.5% week-on-week [21][22] Beijing Market Details - Recent transactions have stabilized in the range of 2,900 to 3,000 units per week, indicating a gradual establishment of a new balance post-policy adjustments, although still 23% below the peak in June [4] Shanghai Market Details - The market has shown a "high-low rebound" pattern, with transactions recovering from a low of 4,100 units to around 4,700 units in recent weeks, although still 7.1% below the June peak [8] Shenzhen Market Details - The market has seen a continuous decline over five weeks, with a cumulative drop of 20.9% from a peak of 1,218 units, indicating a clear downward trend [12] Hangzhou Market Details - The market has shown a recovery to approximately 1,286 units per week, with a slight decrease in average unit size, indicating a shift towards smaller unit types [17] Chengdu Market Details - The market has surpassed the 4,000 units per week threshold, with a notable increase in transaction volume and a higher growth rate in transaction area compared to unit count, suggesting a release of demand for improved housing [21]

Group 1 - The core viewpoint of the article highlights that the second-hand housing market in Shanghai has reached a peak in transactions for the first half of 2025, with a total of 130,100 units sold, representing a 19.5% increase compared to the same period in 2024 [2] - The average monthly transaction volume exceeded 20,000 units in the first half of 2025, with March recording 29,353 units sold, second only to December 2024 [2][3] - June 2025 saw a decline in transactions to 20,774 units, a 21% year-on-year decrease, breaking a 14-month streak of year-on-year growth [2][4] Group 2 - The significant drop in June's transactions is attributed to a high base effect from June 2024, when the "Ten Measures" policy was implemented, leading to a surge in market activity [4] - Compared to earlier years, June 2025's transaction volume remains stable, with a 68.7% increase from June 2023 and a 32.7% increase from June 2022 [6][7] - The primary market drivers are properties priced below 3 million, which account for over half of the transactions, mainly located in suburban areas [8] Group 3 - Properties priced between 8 million and 10 million saw a decrease in transaction share from 4.25% in January to 2.94% in February, stabilizing around 3.25% from March to May [8] - High-end properties priced above 10 million showed stronger performance, with transaction shares approximately 1.5 percentage points higher than the 8-10 million segment [8] - Overall, the average monthly transaction share for properties priced above 8 million is about 8.2%, indicating a balanced market that allows for rational selection of quality properties [8]