Core Insights - The Shenzhen real estate market continues to show signs of adjustment, with a significant decline in transaction volume for ordinary residential properties, marking the fifth consecutive month of decrease [1][8] - Supply has contracted sharply, with only 7 residential projects receiving pre-sale permits in August, leading to a substantial reduction in new supply area [2][8] - There is a notable divergence in price performance across different districts, with some areas experiencing price increases while others see declines [3][5][7] Market Performance - The transaction volume for ordinary residential properties in Shenzhen was approximately 127,800 square meters in August, reflecting a month-on-month decrease of 14.8% and a year-on-year decline that continues to widen [1] - Only 30,900 square meters of new residential supply was added in August, a significant drop of 35.2% compared to the previous month [2] - The overall average price of new homes in Shenzhen remained stable month-on-month, but only 4 out of 11 districts saw price increases, with Dapeng New District leading with a 5.5% month-on-month increase [3][5] Price Analysis - The average transaction price in Futian District remains the highest at 108,899 yuan per square meter, followed by Nanshan and Luohu at 96,741 yuan and 82,150 yuan respectively [5] - The high-end market has seen a reduction in the number of districts with prices above 100,000 yuan per square meter, dropping to 6 districts from 8 in July [6] - Dapeng District recorded the highest month-on-month price increase at 10.4%, while the Biling District experienced the largest declines, with a year-on-year drop of 33.0% [7] Market Outlook - Analysts indicate that the Shenzhen real estate market is still in an adjustment phase, with a strong wait-and-see sentiment among buyers and a slowdown in developers' project launches [8] - Despite the overall market decline, high-quality projects in core areas continue to attract interest, demonstrating strong resilience against price drops [8] - The market is expected to stabilize gradually as policy environments become clearer and market expectations stabilize, although divergence in performance will likely persist in the short term [8]