Core Insights - The data from the China Index Academy indicates a shift in the transaction structure of residential properties, with an increase in the proportion of transactions for residential units larger than 120 square meters in 20 out of 30 representative cities from January to April 2025 compared to the same period in 2024, reflecting a release of improvement-driven demand [1] - Cities such as Nanjing, Qingdao, Dongguan, Quanzhou, and Ganzhou saw an increase of over 8 percentage points in the transaction share of residential units larger than 120 square meters [1] - In Beijing, the proportion of transactions for properties priced over 10 million yuan reached 24.9%, an increase of 8.7 percentage points compared to the same period in 2024 [1]