On march 24th, china's new longitude (seoul woo fei), “the house you saw yesterday was sold today.” on the day after she finished reading the house, zheng yi (alias) working in beijing informed her by telephone that the price of the second-hand house she saw was down by $200,000。
In 2026, there was a certain increase in the number of new and second-hand homes traded in beijing, shanghai, guangzhou, hangzhou, etc., and the market entered the “young spring”。
Beijing used room has a deal or 20,000 units
Zheng yi hasn't seen the house in a long time. In mid-march, she interviewed the realtor to see the source of the second-hand house outside the eastern ring of the chaoyang district。
The realtor told zheng mei that since january this year, the second-hand room has been at an accelerated pace. In march alone, their shop sold five housing units in a popular district. On the same day, zheng po saw a total of 10 sets of second-hand houses at prices ranging from $3. 5 million to $4. 2 million, and the realtor stated that most of the owners were currently selling them in good faith, at a price that could be negotiated。
Beijing is selling second-hand houses
“the day after the house was finished, the broker called me and said that my first set of second-hand house houses was sold at $3. 5 million, which was $200,000 less than the billboard price. The house had been hanged for more than five months, with the initial listing price being $4 million and the subsequent two price reductions. The main reason for the change of business is to buy a school block for the children, so it is urgent to complete the transfer of the school block before the student's enrolment information is collected.” zheng yi said。
On the same day, zheng yi saw a number of homeowners who chose to sell their home for the purpose of changing their home space, and others who chose to cash out because the home was empty。
Since the end of 2025, a broker with more than 10 years of experience in real estate transactions in beijing, feng liu (alias), has recently been known as china's sanctuary, and since the end of 2025, there has been a slight increase in the intensity of the second-hand house and the speed of the house trade. In the housing stock, which is currently in the process of being sold in good faith and at the right price, the deal can be concluded relatively quickly。
With regard to the reasons for the increase in market activity, von lyu believes that, as housing prices gradually become more reasonable, some of the backlog of demand for housing has been released. He said: “although future trends are difficult to judge, prices are now acceptable for many new clients. At the same time, the cost of buying housing has fallen considerably, such as a reduction in the interest rate on mortgages, the payment of half of the intermediary fee by both buyers and sellers, and the payment of a 1 per cent tax on most of the home's sources.”
According to von yanu, there are now two types of home-seeing clients, namely, the first-ever group after 95, whose work and income have stabilized and which require the purchase of a marital home, and the surrounding replacement owner, who sells an old block without an elevator and replaces it with an elevator house。
“there has been no change in the price of housing today compared to the previous period, except that there is less room for negotiation, for example, 300,000 before and 200,000 now.” he also stated that march was a season in beijing and that he could not judge whether the heat would last。
According to data from the beijing housing commission, as of 22 march, 1,2182 second-hand residential nets had been traded in beijing since march, up from 8130 throughout february. The chief analyst, zhang daewei, stated that, in view of the current momentum, the market had entered the “yang chun” scenario, and it was expected that the number of second-hand house nets would exceed 20,000 in march of this year, up from about 19,000 in march 2025。
In addition to second-hand houses, the market for new houses in beijing showed some heat. The new building, located in the hoangyang district, was built in june 2025 and is now half-wired. The data provided by the project show that, as at 19 march, the project had initialled 47 sets in march and 27 in netting, up from 16 in full february。
One of kim mau’s position-based advisers at china’s latitude stated that each march was a high point in the second-hand house market, that some of the second-hand owners would consider buying the house after selling it out, and that the new house had been approved by the purchasers on the basis of a better quality of residence, which had led to an increase in the new house trade. “one of my clients started selling the house in october 2025, and recently sold it, and then chose our project.”
As revealed by the vietnamese property, the turnover of the company's two sales projects in changping district in beijing has increased. As of 22 march, the turnover of the starlight future project has increased by about 150 per cent since march, a marked acceleration of the pace of the trade since the previous two months; the average weekly visits since march of the starbucks project have increased markedly compared to the beginning of the year, with a 210 per cent increase since march。
It's a trade-off
Beijing is building a new building
With the exception of beijing, multiple real estate market transactions have increased。
According to the national statistical office, the price of new houses in shanghai rose by 0. 2 per cent in february, from a flat to a flat increase; the price of second-hand houses also rose by 0. 2 per cent, ending with a decline for nine months。
Recent news of the city's “yang chun” has given rise to the desire to buy a house in shanghai. She claims that she currently rents around $6,000 per month at the level of new china, while her goal is to buy a single room of between $3 million and $3. 5 million, so that the monthly allowance is not very different from the rent。
At the same time, ms. Lin said: “there has been no use of funds in the provident fund account, nor is the amount of the monthly provident fund and the supplementary provident fund. At a time when the level of the provident fund is increasing, it is also desirable to make full use of this money.” on 25 february this year, the shanghai new deal was launched, raising the maximum amount of the provident fund loan from $1. 6 million to $2. 4 million for the purchase of the first flat。
The above-mentioned shanghai city new deal has once again eased the policy of restricting the purchase of non-residents, for example, by changing the length of social security or a tax from three years to one year for non-residents who are required to purchase housing in the outer ring。
The data from the security monitoring of tenants show that during the week of 9-15 march, the number of second-hand house nets in shanghai was 7233, up from nearly five years since 2021. As at 22 march, the shanghai second-hand room network had registered over 20,000 units since march. The vice-president of the shanghai institute for evictions and estates has made a sharp leap towards china through the latitudes, and it is expected that the total number of second-hand house signatures in shanghai will exceed 30,000 units throughout march。
According to data from the ministry of research and development of guangzhou, since march 15, the guangzhou market for new homes has accumulated 216 million square metres, an increase of 48 per cent over the first half of february; the second-hand market has closed 4225 units, an increase of 43. 3 per cent over the first half of february. It stated that, as of march, there had been a significant increase in the dynamism of the second-hand market in guangzhou, a slowdown in client sentiment, a peak in demand for superstitious degrees, a steady increase in the number of second-hand weekly trades, and a breakthrough of 2,400 during the week of 9-15 march。
According to hangzhou i love my family statistics, as of march 15, there were more than 3,600 second-hand rooms in hangzhou metropolitan area (with fuyang and pianan) since march. By contrast, the number of used rooms in hangzhou was 3370 during the month of february, affected by spring holidays。
We just needed a crowd to get in
According to zhang dawei, march is the highest point of market engagement each year, with policy push, a backlog of spring demand, and school enrolment demand being the main causes, as well as the current “young spring” performance of the market。
“the special feature of this year's market is the relatively high share of the supply of low gross housing.” according to zhang dawei, more than 60 per cent of the second-hand housing stock currently closed in beijing is for a total price of up to $3 million, which indicates that the demand group is being bought。
With regard to the recent emergence of the “yang chun” in many markets, the chief researcher of the centre for housing policy studies in guangdong province, li yujia, indicated that, in addition to the reasons for the seasonal recovery, it was largely driven by the internal dynamics of the market, “it is clear that it is in place”
“from 1 to 18 march, second-hand housing transactions in shanghai amounted to 72 per cent at a total price of less than $3 million and 74 per cent below 90 square metres. Second-hand housing transactions in shenzhen, at a total price of less than $3 million, accounted for 49 per cent, an increase of 4 percentage points over 2025. These houses, which were less than $3 million, may have been at a price of $4 million or even $5 million, and have now reached the level that buyers can pay. Today's monthly supply and rental costs are not so bad as to drive the recent situation.” lee woo-ja said。
In the recent past, the “old and small” sources of housing in small areas of shanghai city have been selected, with the results showing a rental ratio of 2. 3 to 3. 1 per cent (monthly rent x 12/total house price). The sharp leap indicates that, in a low interest rate environment, this rate of return is not only higher than the one-year national debt rate, but also captures most of the bank's revenue. This is why, despite the old housing stock, it attracts home buyers, i. E., the monthly supply and the rent are close。
With regard to the shanghai market, it has been argued that, according to the rules governing the replacement chain, just needed dynamism will create the preconditions for “sold for new” for improved demand. The entry into late march and subsequent months is also expected to boost high-end, improved demand and home-market deals in shanghai, where the heat will be extended and channelled。
But zhang dawei reminds us that markets are still fragile, and that there is still a gap between beijing and shanghai, even if there is a single month of second-hand house exchange of 20,000. He said: “the market, after passing the valley, has experienced a certain recovery, but to extend the heat into the second quarter of this year, it will require a combination of good policies and so forth.”
