Core Viewpoint - The current market sentiment is characterized by an unprecedented level of caution, with many individuals preferring to hold cash rather than make purchases, even during the traditionally strong sales months of September and October [1][2] Group 1: Market Activity - Despite the prevailing market downturn, the Tianjin real estate market continues to see transactions, with new homes signing contracts for a total of 4.74 million square meters and 42,000 units by September, while second-hand homes accounted for 9.14 million square meters and 103,000 units [1] - On average, the monthly transaction volume for both new and second-hand homes in Tianjin is approximately 1.54 million square meters and 16,000 units, indicating that around 16,000 families are purchasing homes each month [3] Group 2: Buyer Categories - Four main categories of buyers are identified in the current market: 1. **Marriage Housing**: This category includes buyers across different income levels, with parents of young couples often financing the purchase of homes, viewing them as essential infrastructure for new families [4][5][6] 2. **Retirement Needs**: Older buyers, who cannot afford to wait, are seeking new homes either for necessary replacements due to living conditions or for quality upgrades, driven by their stable financial situations [8][9][10] 3. **School District Housing**: Parents prioritize purchasing homes in good school districts, viewing them as essential for their children's education, leading to continued activity in this segment despite overall market caution [11][12][15] 4. **Upgrading Needs**: Buyers looking to upgrade their living situations due to family growth or personal preferences are also active in the market, with many making full cash purchases [16][18][20] Group 3: Buyer Rationality - The notion that there are no completely irrational buyers in the current Tianjin market is emphasized, as those making purchases are not ignoring market conditions but rather considering them as one of many factors in their decision-making process [23][24][26] - The focus for these buyers is on addressing immediate housing needs rather than speculating on future market conditions, reinforcing the idea that homes are essential for living and happiness [28][29]

Market Overview - In August, multiple new residential projects in Tianjin are actively preparing for the "Golden September and Silver October" sales period, with over 20 new projects expected to enter the market in the six urban districts and four surrounding districts from September to October [1] - The Hexi District is highlighted as a supply hotspot, featuring high-quality projects such as Tianjin Iron Green City North Tide Ming, Poly Tianmen Tianjun, Jindi Meijiang Yin, and Greentown Yubaihe, indicating increased market competition in this area [1] - The Tianjin real estate market is gradually transitioning to a phase dominated by new products, while the market presence of older projects continues to diminish [1] Sales Performance - From January to August 2025, the top 10 real estate companies in Tianjin achieved a total sales revenue of 40.38 billion yuan, with a threshold of 1.77 billion yuan for the top 10 list [2] - The leading company, Taida Construction, recorded sales of 6.93 billion yuan, followed by China Overseas Property with 5.95 billion yuan, and Tianjin Urban Investment Group with 5.33 billion yuan [2] Project Sales Rankings - The top 10 residential projects in Tianjin generated a total sales amount of 11.943 billion yuan from January to August 2025, with a minimum threshold of 920 million yuan for inclusion in the ranking [3] - The project "Shangdong Jinmao Xiaotang/Jintang" topped the list with sales of 1.483 billion yuan, followed by "Jinmao Panhu Manting" at 1.296 billion yuan, and "Tibei Jinmao Mansion" at 1.295 billion yuan [3] Policy Environment - On August 13, Tianjin's housing provident fund center announced a new measure allowing homebuyers to withdraw funds from their provident fund accounts to pay the down payment for purchasing existing homes, aimed at reducing the threshold for home purchases and invigorating the existing housing market [5] - On August 28, the Central Committee of the Communist Party of China and the State Council released an opinion on promoting high-quality urban development, providing important guidance for local governments to address current industry challenges [5] Land Market Analysis - In August 2025, Tianjin launched 20 plots of land for sale, with a planned construction area of 1.4254 million square meters, including one residential plot, one commercial/office plot, and 16 industrial plots [5] - Three residential land parcels were sold in August, all at the base price, located in Wuqing District, Beichen District, and Hongqiao District, with the Hongqiao District plot designated for urban renewal [7]