New Housing Market - In Shenzhen, from August 1 to 26, 1,811 new residential units were sold, totaling 183,200 square meters, while 1,384 new residential units were approved for sale, totaling 150,000 square meters [1] - The new housing supply in Shenzhen decreased in August, with core areas facing tight inventory and peripheral areas experiencing significant de-stocking pressure [1] - High-end projects in core areas like Nanshan, Futian, and Baoan showed strong sales performance, with the Ba Zhong Poly Zhen Yu Fu project achieving a sales rate of 96% [1] - Emerging areas such as Guangming Science City and Longhua Hongshan saw strong sales for leading projects, while some remote projects had de-stocking rates below 30% [1] - Future market trends will depend on policy measures and the pace of economic recovery [1] Second-Hand Housing Market - As of August 26, 3,619 second-hand residential units were sold, totaling 361,100 square meters, representing a year-on-year increase of 16.07% [1] - The second-hand housing market in Shenzhen showed signs of stabilization in August, supported by policy expectations and demand from first-time buyers [1] - However, high inventory levels and downward price pressure remain, leading to a cautious sentiment among buyers who are awaiting further policy easing [1] Land Market - In August, Shenzhen completed the sale of three residential land parcels [2] - The first parcel in Baoan District was sold for 1.215 billion yuan, with a floor price of approximately 20,364 yuan per square meter and a premium rate of 11.47% [2] - The second parcel in Longhua District was sold for 1.789 billion yuan, with a floor price of 35,030 yuan per square meter and a premium rate of 15.12% [2] - The third parcel in Baoan District was sold for 8.640 billion yuan, with a floor price of approximately 59,586 yuan per square meter, setting a new record for residential land prices in the region with a premium rate of 34.81% [2] Market Trends - The land auction market in Shenzhen is characterized by the emergence of "land kings," indicating the resilience of core assets [3] - Policy relaxation and planning adjustments are reshaping land value logic, with leading developers competing for quality resources through joint development and product innovation [3] - The future of the Shenzhen land market is expected to follow a pattern of "quality competition in core areas and policy support in non-core areas," with the scarcity of core assets and specialized development models becoming the market's main themes [3] Sales Performance of Real Estate Companies - From January to August 2025, the top 20 real estate companies in Shenzhen achieved a total sales amount of 114.903 billion yuan, accounting for 59.11% of the city's total sales [6][8] - The top 10 companies generated 78.661 billion yuan in sales, representing 40.47% of the total, while the next 10 companies accounted for 18.64% with 36.241 billion yuan [8] - The leading company, Hongrongyuan, achieved sales of 16.114 billion yuan, followed by China Merchants Shekou with 10.753 billion yuan and Shenzhen Metro Real Estate with 8.298 billion yuan [8] Sales Area of Real Estate Projects - The top 20 real estate projects in Shenzhen sold a total area of 2.5015 million square meters from January to August 2025, with a minimum threshold of 54,000 square meters for inclusion [9] - The top project, Hongrongyuan, sold 487,700 square meters, followed by Shenzhen Metro Real Estate with 185,800 square meters and Shenzhen Deep Industry Group with 184,000 square meters [9] Top Selling Projects - The top 10 residential projects in Shenzhen from January to August 2025 generated a total sales amount of 38.363 billion yuan, accounting for 27.35% of the city's total residential sales [11] - The leading project, Zhongzhou Yingxi Garden, achieved sales of 6.549 billion yuan, followed by Hongrongyuan's project with 5.376 billion yuan and the project in Nanshan District with 4.558 billion yuan [11] - In terms of sales area, the top 10 projects sold a total of 588,000 square meters, representing 21.82% of the total sales area [11]

Core Viewpoint - The Shenzhen real estate market shows a competitive landscape with significant sales growth in the first half of 2025, highlighting the performance of top real estate companies and popular projects [1][2][3]. Group 1: Sales Performance - In the first half of 2025, the top 20 real estate companies in Shenzhen achieved a total sales amount of 100.57 billion yuan, accounting for 60.28% of the city's total sales [1][2]. - The sales threshold for entering the top 20 list increased significantly to 2.47 billion yuan compared to 1.31 billion yuan in the same period of 2024 [2]. - The top three companies by sales amount are: 1. Hongrongyuan with 14.83 billion yuan 2. China Merchants Shekou with 9.33 billion yuan 3. Jingji Group with 6.75 billion yuan [1][2]. Group 2: Market Dynamics - The top 10 real estate companies accounted for 41.11% of the total sales in Shenzhen, indicating a diverse market with both private and state-owned enterprises competing [3]. - The top 10 residential projects achieved a combined sales amount of 32.47 billion yuan, representing 27.48% of the total residential sales [3][4]. - The market is characterized by a concentration of demand in a few high-quality projects, with the top project, Zhongzhou Yinxihua Garden, generating 6.02 billion yuan in sales [4][5]. Group 3: Future Outlook - The second half of 2025 is expected to see new projects like Poly Zhenyu Mansion and Junyue Mingdu entering the market, which may invigorate the Shenzhen real estate market [6][7]. - Analysts predict a potential increase in transaction volumes as market confidence improves, leading to a scenario of increased supply and differentiated market structures [7].