Trong tuần đầu tiên của tháng 4, lượng giao dịch nhà ở đã qua sử dụng tại nhiều địa phương tăng hơn 30% so với cùng kỳ năm ngoái

The latest data from the China Index Research Institute shows that in the first week of April (3.30-4.5), transaction volumes of new homes and second-hand homes in core cities increased year-on-year. Among them, in Beijing, Shanghai, Wuxi, Qingdao, and Wenzhou, the year-on-year growth in second-hand home transaction volume all exceeded 30%; in Ningbo and Xiamen, the year-on-year growth in second-hand home transaction volume exceeded 50%. It is expected that in April, supported by the launch of projects under the “good housing” initiative and the overlap with the traditional peak season, transaction volumes of both new homes and second-hand homes in core cities may receive support.

Data indicates that since March, a “small spring” market has emerged in some core cities. Supported by demand from first-time homebuyers, Shanghai and Beijing have seen transaction volumes grow despite a relatively high base. In Shanghai, the effect of the “Shanghai Seven Articles” policy has been evident: in March, 31k units of second-hand commercial housing were sold, the highest in nearly five years (the first time since April 2021 that it exceeded 30k), with year-on-year growth of 6% despite the higher base. In April, market activity continued, and in the first week (3.30-4.5), year-on-year transactions increased by 32%. In Beijing, in March, nearly 20,000 second-hand residential units were sold, up 3% year-on-year, reaching the highest monthly level in 15 months; in the first week of April (3.30-4.5), year-on-year transactions increased by 36%. Among second-tier cities, in the first week of April (3.30-4.5), Ningbo and Xiamen saw year-on-year growth in second-hand home transaction volume of more than 50%, while Wuxi, Qingdao, and Wenzhou grew by more than 30% year-on-year.

For new homes, in March, the year-on-year decline in the transaction area of new homes across the key 100 cities narrowed to 11%. Among them, Guangzhou increased by 25% year-on-year; Beijing and Shanghai fell by 27% and 5% year-on-year, respectively, and the decline narrowed significantly compared with the previous month. In the first week of April (3.30-4.5), the Beijing, Shanghai, and Shenzhen new home markets continued a recovery trend, and week-on-week transactions increased. Among second-tier cities, due to reduced supply, new home sales in many places continued to decline year-on-year; in March, only cities such as Wuhan, Xi’an, Qingdao, and Jinan achieved year-on-year growth in transaction area. In the first week of April (3.30-4.5), cities such as Ningbo and Wuhan recorded year-on-year growth of more than double on a low base, but market differentiation remains the main feature: cities such as Wuxi, Hefei, and Wenzhou still saw declines of more than 20% year-on-year.

The China Index Research Institute stated that during the Qingming Festival holiday period, many city projects continued the pre-holiday promotion plans and discount activities. Affected by factors such as people returning to hometowns to worship ancestors during the holiday, during the holiday period many places generally had no new projects launched. Among them, Guangzhou and Suzhou, due to reduced supply, showed relatively lackluster market performance; in Tianjin’s Hebei District, affected by rumors that the policies for transferring schools were tightened, transaction activity rose significantly. Internal structural differentiation in the market also intensified in parallel: in Shenzhen’s Guangming, Bao’an, and other first-time-buyer-focused segments, discount promotions remained common; in parts of Zhengzhou, some projects that were subject to older rules maintained high commissions to accelerate clearing; for homes in far suburbs and properties with older housing age, bargaining room continued to expand. Meanwhile, core projects such as Shanghai’s Qiantan continued to see more than 200 groups viewing per day on average during the holiday. In Beijing’s core-area second-hand home market, activity remained strong, and in Xi’an and Suzhou, prices for high-quality homes in prime locations stayed firm.

From a trend perspective, the China Index Research Institute believes that in April, supported by the launch of “good housing” projects and the traditional peak season, transaction volumes of both new homes and second-hand homes in core cities are expected to receive support. The government’s annual “Work Report” sets the tone for “making efforts to stabilize the real estate market.” It is expected that in April, localities may accelerate the pace of “policies tailored to local conditions” for different cities.