Group 1 - The introduction of new housing policies in Shenzhen on September 5 has led to an increase in market activity, with a notable rise in both new and second-hand property transactions despite a slight decline in second-hand sales due to typhoon weather [1][2] - As of September 28, the total number of new residential units sold in Shenzhen reached 1,482, while second-hand residential transactions totaled 4,323, indicating a robust market despite some fluctuations [1][2] - Real estate agents report a significant increase in decision-making speed and confidence among buyers with clear demands, although prices in the second-hand market remain relatively stable [1][2] Group 2 - The decline in second-hand housing prices over the past four years has made homeownership more accessible to previously unaffordable buyers, driving up transaction volumes [2] - The new policies are expected to create a positive cycle in the housing market, facilitating the transition from second-hand to new homes, particularly for buyers looking to upgrade [2] - The recent policy changes have led to a 35% increase in new home purchases in the 23 days following the policy implementation compared to the previous 23 days, and a 75% increase compared to the same period in August [2] Group 3 - Nationally, the new housing market has remained stable since 2025, but there has been a slight decline in sales since the second quarter, with September showing signs of recovery due to improved supply [3] - The second-hand housing market continues to operate on a "price for volume" basis, with key cities seeing a year-on-year increase in transaction numbers for the first three quarters [3]

Core Viewpoint - The Shenzhen real estate market showed a mixed performance in August, with a decline in new residential sales but a slight increase in second-hand housing transactions, indicating a complex market sentiment influenced by policy expectations and market conditions [1][2][3]. Group 1: New Housing Market - In August, the total number of new residential sales in Shenzhen was 2,151 units, representing a month-on-month decrease of 19.1% and a year-on-year decrease of 33.3% [1]. - The inventory of new pre-sale residential units reached 32,293 units by the end of August, an increase of 4,391 units compared to the end of June [1]. - The average monthly absorption rate over the past 12 months indicates a depletion cycle of 10.1 months, while the last 6 months suggest a longer cycle of 15.9 months [1]. Group 2: Second-hand Housing Market - The second-hand housing market recorded 4,175 transactions in August, a month-on-month decrease of 10.3% but a year-on-year increase of 9.8% [1][2]. - The average transaction price for second-hand homes was 59,600 yuan per square meter, with a slight month-on-month increase of 0.5% [2]. - The total number of second-hand housing transactions in August was 5,061 units, reflecting a month-on-month growth of 21.8% and a year-on-year increase of 12.8% [2]. Group 3: Rental Market - The average rental price for commercial properties in Shenzhen was 75.3 yuan per square meter in August, with a month-on-month increase of 0.5% [2]. - The average monthly rent per unit was 5,690 yuan, showing a month-on-month increase of 1.5% and a year-on-year increase of 0.6% [2]. Group 4: Market Outlook and Policy Impact - The recent adjustments in housing policies in Beijing and Shanghai are expected to influence Shenzhen's market, with a higher probability of policy follow-up to boost market expectations [3]. - The upcoming traditional peak season of "Golden September and Silver October" is anticipated to bring renewed market activity, supported by enhanced policy expectations [3].

Group 1 - The Shenzhen second-hand housing market shows signs of recovery with a recorded 1,184 transactions last week, representing a 5.2% week-on-week increase, ending a continuous decline trend [1] - As of August 4, 2025, there are 76,156 valid second-hand housing listings in Shenzhen, an increase of 645 from the previous week [1] - Despite a decrease in viewing volume due to heavy rain, the signing volume of second-hand residential properties increased significantly by 17% week-on-week, indicating a faster decision-making process among clients [1] Group 2 - In July, the new housing market in Shenzhen saw a net signing of 2,664 units, a decrease of 18.7% month-on-month, while second-hand housing transactions rose by 3.4% to 4,656 units, although still below May's levels [1] - The average listing price for second-hand homes in Shenzhen in July was 62,706 yuan per square meter, reflecting a 0.2% month-on-month increase, driven by price stability in popular properties and concessions in others [1] - The bargaining rate in July was 8.3%, an increase of 0.2% from the previous month, indicating a slight increase in negotiation flexibility [1] Group 3 - The housing market in Shenzhen is experiencing a traditional off-season in July, with a downward trend due to lower-than-expected policy implementation since June [2] - The increase in second-hand listings and significant price drops in the past suggest continued high trading activity in the second-hand housing market, supported by favorable loan conditions [2] - The new housing market is expected to show a pattern of "star projects being hot, while most developments remain flat," indicating competitive pressure and greater adjustment challenges compared to the second-hand market [2]

Group 1 - In July, Shenzhen's real estate market showed a trend of cooling in the primary market and stabilization in the secondary market, with primary residential transactions down 18.7% month-on-month to 2,664 units, marking a 17-month low [1] - The total transaction volume for both primary and secondary residential properties in July was 7,320 units, a decrease of 5.88% from June's 7,777 units [1] - The differentiation in the primary and secondary housing markets may be influenced by the supply structure, with high prices or poor locations of new developments driving buyers towards the secondary market [1] Group 2 - The secondary residential market in Shenzhen remained stable, with transaction volumes exceeding 4,500 units for three consecutive months from May to July, indicating a strong performance during the "golden three months" of March and April [2] - In July, the recorded volume of secondary residential transactions reached 5,669 units, reflecting a 2.2% month-on-month increase, with consistent performance above 5,000 units from May to July [2] - The demand for affordable housing is being supported by first-time buyers, with 39.69% of new residential transactions in July being for properties under 90 square meters, an increase of over 2 percentage points from June [2] Group 3 - The proportion of secondary housing transactions priced below 3 million yuan increased significantly to 27.2% in July, up 3 percentage points from earlier in the year, indicating a growing demand for affordable small units [3] - Policy measures such as reduced down payment ratios and optimized standards for ordinary residential properties have lowered the barriers for first-time buyers, directly stimulating demand in the under 3 million yuan segment [3] - The increase in the share of affordable housing transactions reflects the impact of price adjustments and policy incentives on first-time homebuyers [3]

Group 1 - The Shenzhen real estate market continues to show signs of recovery in 2023, with a notable increase in both new and second-hand residential transactions [1] - In June, Shenzhen's new residential property registrations reached 3,275 units, reflecting a month-on-month increase of 3.6% [1] - For the first half of 2025, new residential property registrations totaled 21,868 units, with pre-sale transactions accounting for 15,101 units, marking a year-on-year growth of 24.4% [1] Group 2 - The second-hand residential market in Shenzhen is also experiencing high activity, with 29,231 units transferred, representing a year-on-year increase of 36.6% [1] - Observations from a real estate agency in Nanshan District indicate that most staff are engaged in showing properties rather than managing listings, highlighting the demand in the market [1]

二手房市场也是观察楼市变化的重要窗口，据乐有家门店成交数据计算，5月深圳二手成交价为每平方 米6.12万元，环比下降2.9%。价格波动一方面是由于刚需房源成交占比提升，促使价格小幅下滑，另一 方面淡季成交量下滑，业主议价空间提升，价格小幅下调。与此同时，5月深圳二手住宅挂牌均价为每 平方米6.5万元，环比小幅下滑0.3%，业主挂牌价整体维持稳定。 李宇嘉认为，尽管近期有降准降息、中美关税缓和等利好消息，但从市场交易本身来看，刚需刚改是深 圳的主力，新房二手房中小面积、中低价位占比远高于其他热点城市，这意味着深圳商品房市场仍取决 于就业、收入、预期等经济基本面。尽管深圳房价已经调整了4年的时间，但购房人群仍旧对价格比较 敏感。 中指研究院的数据显示，5月深圳核心区推盘节奏有所加快，但各项目间分化显著，多个核心区优质项 目去化率超80%，而非核心区项目去化率普遍低于50%。广东省住房政策研究中心首席研究员李宇嘉表 示，进入4月以后深圳新房市场供需两端的交易情绪开始转弱，开发商批准预售的情绪也在走低。销售 方面，除了个别区位品质好且性价比高的项目，多数新盘采取积极的优惠促销态势来去化，部分项目的 折扣力度也不小。 ...