Core Insights - The new housing policy implemented on September 5 has significantly activated various housing demands in Shenzhen, leading to a notable increase in both new and second-hand home transactions [2][6] - The most impacted area is Luohu District, where the removal of purchase restrictions has resulted in a surge in buyer interest and transaction volume [6][9] Market Performance - In the week of September 8-14, Shenzhen recorded 589 new residential units sold, a 17% increase from the previous week, while second-hand homes saw 1,554 transactions, up 15.4% [2][6] - Luohu District experienced the most significant changes, with viewing and signing rates increasing by 29% and over 25% respectively during the same period [6][9] Buyer Demographics - The new policy has attracted a considerable number of external buyers, including those from Chengdu and Hong Kong, who are now eligible to purchase homes in Shenzhen [3][4] - Approximately 10% to 15% of buyers in Luohu are from outside Shenzhen, indicating a diversification of the buyer pool [3][4] Local Buyer Sentiment - Local buyers are showing increased confidence and quicker decision-making, with many making purchases on the same day as their property visits, a trend not seen before the policy change [5][6] - The demand from local buyers is particularly strong in areas with good educational resources, such as Luohu, where families are eager to secure homes for their children’s education [6][9] Developer Activity - Developers are actively preparing to launch new projects, taking advantage of the favorable market conditions created by the new policy [8][9] - Notable upcoming projects include over 390 new residential units from local developers, with expectations of strong sales performance due to the current market dynamics [8][9] Market Outlook - The new policy is expected to stimulate the market further during the traditional peak sales season of September and October, with a focus on both core and non-core areas [9][10] - Analysts believe the policy effectively addresses the inventory issues in non-core areas while stabilizing expectations in core regions, setting a positive foundation for the upcoming market season [9]

Core Viewpoint - The recent policy changes in Shenzhen's real estate market have significantly stimulated housing demand, leading to increased transactions in both new and second-hand homes, particularly in the Luo Hu district, which has seen the most substantial impact from the new regulations [3][8][12]. Summary by Sections Market Activity Post-Policy - In the week following the new policy (September 8-14, 2025), Shenzhen recorded 589 new residential transactions, a 17% increase from the previous week, while second-hand homes saw 1,554 transactions, up 15.4% [3][8]. - Luo Hu district, which had the most significant changes in purchase restrictions, experienced a 29% increase in viewings and over 25% in signed contracts during September 6-14 [5][8]. Changes in Buyer Demographics - The policy has lowered purchase barriers across most of Shenzhen, allowing non-residents to buy homes in several districts, leading to an influx of new buyers, including those from other cities and regions [5][6]. - A notable increase in inquiries and purchases from clients in Hong Kong, Macau, and Taiwan has been observed, with many seeking properties for investment or retirement [6][12]. Local Buyer Sentiment - Local buyers have shown increased confidence and quicker decision-making in their purchasing processes, with many transactions occurring on the same day as property viewings [6][8]. - The overall market sentiment has shifted positively, with many buyers now viewing Shenzhen properties as stable investments [5][6]. Performance of Luo Hu District - Luo Hu has emerged as the "biggest winner" from the new policy, with a significant increase in both new and second-hand home transactions due to its favorable location and quality amenities [8][9]. - The district's new home supply is limited, leading to a rapid turnover of existing properties, with some agents reporting a doubling of transaction volumes post-policy [8][9]. Developer Strategies and Market Outlook - Developers are actively preparing to launch new projects, taking advantage of the current market momentum, with several new residential projects expected to hit the market by the end of September [10][11]. - The policy is anticipated to create a favorable environment for the upcoming "Golden September and Silver October" sales season, with expectations of increased activity in both core and non-core areas of the market [12].

Core Insights - The recent policy changes in Shenzhen have significantly activated various housing demands, leading to increased transactions in both new and second-hand housing markets [1][4][8] - The most notable impact has been observed in the Luohu district, which has seen a substantial increase in buyer activity following the relaxation of purchase restrictions [2][4][5] Market Performance - In the week of September 8-14, 2025, Shenzhen recorded 589 new residential units sold, a month-on-month increase of approximately 17%, while second-hand homes saw 1,554 transactions, up 15.4% [1][4] - The Luohu district experienced a remarkable surge, with viewing and signing volumes increasing by 29% and over 25% respectively during September 6-14 [4][5] Buyer Demographics - The new policy has lowered purchase thresholds across most areas in Shenzhen, attracting a significant number of external buyers, including those from Chengdu and Hong Kong, who are now eligible to purchase homes [2][3] - External buyers now account for approximately 10% to 15% of transactions in certain projects, indicating a growing interest from outside the region [2] Local Buyer Sentiment - Local buyers have shown increased confidence and quicker decision-making processes, with many opting for immediate purchases rather than prolonged consideration [3][5] - The market has seen a notable increase in first-time buyers and those looking for investment opportunities, particularly in areas with strong educational resources [5][6] Developer Activity - Developers are actively preparing to launch new projects, taking advantage of the favorable market conditions created by the new policies [7] - Upcoming projects include over 390 new residential units in the Futian and Nanshan districts, with expectations of strong sales performance without the need for heavy promotional activities [7][8] Market Outlook - The new policy is expected to stimulate the market further, particularly during the traditional peak sales season of September and October, with a focus on inventory reduction in non-core areas and stabilizing expectations in core regions [8]