Core Insights - The research center of Le Youjia indicates a rising trend in the transaction share of newly built homes (less than 5 years old) and older residential communities (over 20 years old) in Shenzhen over the past five years [1] Group 1: Transaction Share by Age of Property - The transaction share of homes less than 5 years old increased to 7% in January-November 2025, up 3 percentage points from 2024 [2] - The share of properties aged 5-10 years decreased to 15% in January-November 2025, down from 17% in 2024 [2] - The share of properties aged 10-20 years dropped to 33% in January-November 2025, down from 37% in 2024 [2] - The share of properties over 20 years old reached 45% in January-November 2025, an increase of 3 percentage points compared to 2024 [3] Group 2: Market Dynamics and Influencing Factors - The increase in transaction share for newly built homes is attributed to the cancellation of the "9.29" policy and the adjustment of the value-added tax from 5% to 2%, as well as a growing demand for quality living environments [2] - The active trading of older residential communities is supported by their established living atmosphere and mature surrounding amenities, with notable communities like Yitian Village and Yujing Huacheng Garden experiencing high market activity [3] - As of November 19, 2025, the total pre-sale and current sale transactions for new homes reached 1,824, while the second-hand residential transactions totaled 3,081 [3]

Core Insights - The Shenzhen second-hand housing market is showing signs of recovery, particularly in the new second-hand housing segment, with a notable increase in transaction volumes in August [1][2] Group 1: Market Performance - In the week of August 18, Shenzhen recorded 1,265 second-hand housing transactions, a week-on-week increase of 4.0%, marking three consecutive weeks of growth [1] - Data from Le Youjia indicates that from August 1 to 17, the second-hand residential contract volume in Shenzhen increased by 47% compared to the same period last year, maintaining a relatively active state [1] - The proportion of transactions for properties priced below 3 million yuan increased by 2.5 percentage points from July, reaching 29.1% [1] Group 2: Price Trends - The latest data from the National Bureau of Statistics shows that the decline in second-hand housing prices is narrowing, with a 0.5% month-on-month decrease in July, which is a slight improvement from the 0.6% drop in June [2] - In first-tier cities, including Shenzhen, the month-on-month price decline was 0.9%, indicating a more significant downward pressure compared to other cities [2] Group 3: Future Outlook - The increase in second-hand housing listings and the presence of many low-priced properties suggest that the transaction volume in Shenzhen is likely to remain high, supported by favorable loan and interest rate conditions [3] - The new housing market is expected to exhibit a pattern where a few standout projects perform well while most others remain subdued, indicating greater competitive pressure [3]