Group 1: New Housing Market - In October, Shenzhen's new residential housing market saw a month-on-month decline in net signed contracts by 14.1%, with a total of 3,352 units sold, marking a 29% decrease [1] - The number of new housing projects approved for sale reached 13, with a total supply of 4,143 units, reflecting a month-on-month increase of 2.3% [1] - The available new residential units in Shenzhen at the end of October were 32,788, showing a slight month-on-month increase, but the housing absorption period extended to 10.9 months due to decreased transaction activity [1] Group 2: Second-hand Housing Market - The second-hand housing market recorded 5,548 transactions in October, a month-on-month decrease of 4.5% and a year-on-year decline of 32.9% [2] - The average transaction price for second-hand homes was 51,934 yuan per square meter, down 1% month-on-month, while the average listing price was 62,334 yuan per square meter, also down 1.3% [2] - The negotiation rate increased to 9%, indicating a rise in sellers willing to make concessions, reflecting a market trend of "price for volume" [2] Group 3: Rental Market - The average rental price for commercial housing in Shenzhen was 74.7 yuan per square meter in October, down 0.4% month-on-month [3] - The overall rental market continued to show a seasonal downturn, with reduced demand leading to insufficient upward pressure on rental prices [3] - The average monthly rent per unit decreased by 2%, with core areas like Nanshan, Futian, and Luohu experiencing a drop in transaction volumes, further impacting rental levels [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].