Summary of Key Points Core Viewpoint The real estate market in Xiamen shows mixed signals with a decline in transaction volume in July 2025, while year-to-date figures indicate an overall increase in sales and prices compared to the previous year. The market is experiencing a structural price increase despite a general slowdown in buyer activity. Transaction Data - In July 2025, Xiamen's residential transactions totaled 1,026 units, covering an area of 126,700 square meters, reflecting an 11% month-on-month decline but a 17% year-on-year increase. The sales amount reached 5.523 billion yuan, with an average price of 43,587 yuan per square meter, marking a 4% month-on-month increase and a 45% year-on-year increase [1][4]. - From January to July 2025, Xiamen recorded 7,560 residential transactions, totaling 855,600 square meters, which is a 20% year-on-year increase. The total sales amount was 31.862 billion yuan, with an average price of 37,241 yuan per square meter, reflecting a 6% year-on-year increase [1][3]. Market Dynamics - The concentration of project openings and registrations in July helped maintain a moderate level of transaction volume, with a structural price increase observed. However, the actual buyer engagement has been weak, leading to a low market temperature and increased buyer hesitation [1][4]. - Some developers are resorting to price reductions to stimulate sales and improve inventory turnover [1]. Regional Performance - In the first seven months of 2025, the top-performing districts in Xiamen by sales area were Huli District (20.77 million square meters, 24% market share), Jimei District (15.57 million square meters, 18% market share), and Haicang District (15.57 million square meters, 18% market share) [3]. - In July 2025, Huli District led with 3.16 million square meters sold, accounting for 25% of the market share, followed by Jimei District with 2.98 million square meters [4]. Developer Rankings - The leading developers by sales amount from January to July 2025 were Jianfa (7.969 billion yuan, 22.5% market share), Guida (6.481 billion yuan, 18.3% market share), and Ehe (4.442 billion yuan, 12.6% market share) [6][7]. - In terms of sales area, Jianfa also led with 22.31 million square meters sold, representing 15.7% of the market share [8]. Notable Projects - The top-selling project in the first seven months of 2025 was Haicang Center TOD, with a sales amount of 2.322 billion yuan and an area of 75,700 square meters [14][15]. - In July 2025, the top project by sales amount was Tianyue Yun Song, generating 1.301 billion yuan in sales [21]. Conclusion The Xiamen real estate market is characterized by a complex interplay of rising prices and declining transaction volumes, with significant regional variations and a competitive landscape among developers. The market's future trajectory will depend on how developers adapt to changing buyer sentiments and market conditions.