Core Insights - The Shenzhen real estate market is experiencing a significant increase in new housing supply, with 37 new pre-sale projects and a total of 13,669 residential units launched in Q3 2025, marking a 28.9% increase quarter-on-quarter and a 32.2% increase year-on-year [1] - Despite the surge in supply, the pre-sale residential registration volume has decreased by 32.7% quarter-on-quarter and 35.6% year-on-year, indicating a slowdown in market absorption [2] - The average pre-sale price of residential units in Shenzhen has risen to 50,896 yuan per square meter, reflecting a 4.7% increase from the previous quarter [2] New Housing Supply - In Q3 2025, 34 of the 37 new projects included residential units, with a total supply of 11,430 units, representing a 41.0% increase quarter-on-quarter and a 46.9% increase year-on-year, the highest proportion of residential units in two years [1] - The Bao'an district leads in new residential supply with 2,407 units, accounting for 21.1% of the total, followed by Longgang (20.6%), Guangming (17.1%), and Longhua (13.1%), together contributing over 70% of the new housing supply [1] Pre-sale and Current Sale Market - The pre-sale residential registration volume for Q3 2025 was 4,401 units, showing a significant decline, while the current sale market remained stable with 3,478 units registered [2][4] - The highest pre-sale prices were recorded in Futian (97,000 yuan/sqm) and Nanshan (89,000 yuan/sqm), with several districts experiencing price increases, indicating ongoing value release in certain areas [4] Hot Selling Properties - The top 10 pre-sale residential projects in Q3 2025 were dominated by Longhua and Guangming, with key projects noted for their affordability and high cost-performance ratio, appealing to buyers [5] - Notable low-priced projects include the Runzhen Garden at 34,000 yuan/sqm and Tianjian Heyuefu at 25,000 yuan/sqm, reflecting a market trend favoring value-oriented purchases [5] Second-hand Market - The second-hand residential registration volume reached 13,377 units in Q3 2025, down 10.4% quarter-on-quarter but up 15.6% year-on-year, indicating resilient market demand despite a decline [7] - Longgang continues to lead in second-hand registrations with 3,193 units, followed by Futian (2,183 units) and Nanshan (2,046 units), although most regions saw a decline in registration volume [8] Market Trends - The Shenzhen real estate market in Q3 2025 is characterized by a "supply explosion" in new homes and a stable yet pressured second-hand market, with a diverse selection of new homes available, particularly in Longhua and Guangming [10] - Buyers are advised to consider the maturity of regional amenities and price rationality in the second-hand market, while the future market direction will depend on policy adjustments and supply-demand dynamics [10]

Group 1 - The core viewpoint of the articles highlights the significant growth in the real estate market in Guangming District, with a sales area increase of 17.8% year-on-year for the first nine months of 2025, marking 15 consecutive months of positive growth and positioning Guangming as a leader in the city's real estate sales [1][2] - The introduction of new policies, specifically the 929 policy in 2024 and the 905 policy in 2025, has led to remarkable sales performance, with October 2025 seeing 3,000 units sold and a 102% increase in market subscription volume [1] - Notable projects such as Manjinghua Jinsuo Yuefu and Zhongjian Guanyue Mingdi have experienced rapid sales, with the former selling out on its opening day and the latter achieving a 90% sales rate on its third opening [1] Group 2 - The success of Guangming's real estate market can be attributed to both price and location advantages, with Guangming Science City hosting 23 major technological innovation projects and improving transportation networks through the expansion of metro and high-speed rail [2] - The area boasts significant ecological and livability benefits, featuring 279 parks and over 380 kilometers of greenways and hiking trails, enhancing its appeal to potential buyers [2]