Shenzhen real estate transactions surge

Shenzhen’s housing market has shown a strong rebound following the introduction of new property policies April 29, which have eased purchase restrictions and raised the cap for housing provident fund loans.

According to the Shenzhen Real Estate Intermediary Association, the upbeat market performance, marked by a surge in transactions and stabilized prices during the May Day holiday and the past weekend, can be largely attributed to these policy changes, signaling a clear recovery after a prolonged lull.

A property viewing event attracts groups of homebuyers. File Photos

Data from Leyoujia Holding Group, a leading local real estate agency, show that selling prices of pre-owned homes turned positive. Between May 1 and May 8, units priced above 10 million yuan (US$1.38 million) accounted for 14% of total resale transactions, up 3.4 percentage points from the previous month.

Evidence of this renewed vitality was visible. On Sunday, a property viewing event in the Xiangmihu area of Futian District drew large crowds. Similarly, a project in Shekou, Nanshan District, attracted 160 and 180 visitor groups May 10, underscoring the momentum behind fast-selling properties.、

Sales of Leyoujia introduce new apartments to homebuyers.

Official statistics from the Housing and Construction Bureau of Shenzhen Municipality show that from April 30 to May 10, a total of 2,776 units were registered online — an increase of 52.9% year on year. This included 1,504 pre-owned units (+42.2% YoY) and 1,021 newly built commercial units (+33.6% YoY). Newly launched projects saw even stronger growth, with 1,272 units registered online, up 67.8% year-on-year.

During the May Day holiday specifically, Leyoujia reported that registrations for new and pre-owned properties rose 48% and 62%, respectively — both reaching six-year highs.

Tang Lixia, a researcher at Leyoujia, noted that the market’s enthusiastic response underscores the effectiveness of the new policies.

“These measures lay a solid foundation for the sustainable and healthy development of Shenzhen’s real estate market,” she said.