Second-hand homes have become the engine of recovery, with online signings in March increasing significantly month-on-month, although confidence still needs a boost. In the just-concluded month of March, the property market in first-tier cities showed positive performance, with the traditional peak season "Silver April" becoming a crucial period for observing market trends. During the Qingming holiday, demand in Shenzhen's property market continued to be released, with market conditions slightly better than last year. A marketing manager for a new housing project in Longgang District stated that three units were sold on the first day of the holiday, plans are in place to gradually withdraw discounts, and there is optimism for recovery during the May Day window period. However, homebuyers pointed out that discounts are mostly marketing strategies, and they pay more attention to quality and cost-effectiveness. Data from the Leyoujia Research Center shows that from April 1 to 3, there were 361 online signings for new residential homes and 685 for second-hand homes in Shenzhen, totaling over 1,000 units, with second-hand homes becoming the core driver of the "small spring" warm-up. An agent in the Luohu school district mentioned that transaction activity has picked up, overall prices remain stable, and warming is still being driven by trading volume for price. According to statistics from the Shenzhen Real Estate Intermediary Association, 7,225 second-hand residential units were transacted in March, a month-on-month surge of 151.2% (a near 12-month high), but a year-on-year decrease of 6.2%, reflecting that confidence remains insufficient. The market exhibits three main characteristics: rigid demand dominance, multi-district momentum, and concentration in large developments, with homebuyers placing greater emphasis on value and liquidity. Wang Shao, President of the Guangdong Real Estate Industry Association, stated at the 2026 Viewpoint Forum that key cities have shown "spotty recovery," supply and demand are trending towards balance, while third- and fourth-tier cities still face pressure, necessitating precise regulation and promoting high-quality development through "good houses + good services + good operations."
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