Shanghai's second-hand housing market achieved a monthly transaction volume of 30,000 units for the first time in 5 years! Multiple new property developments are gradually reducing their discounts.

After a gap of 5 years, the monthly transaction volume of second-hand houses in Shanghai has returned to the 30,000 mark, and the strong performance of the real estate market during the "Golden March" has been realized. According to the data from the official website of the Shanghai Real Estate Transaction Center, in March, a total of 31,215 second-hand houses were signed online in Shanghai, setting a record high in nearly 5 years since March 2021. Li Gen, head of the Shanghai Lianjia Research Institute, said that the second-hand housing market in Shanghai in March has a strong spring-like atmosphere, and the transaction data confirms the strong return of market confidence. Not only did the city's second-hand housing transaction volume increase by 6% compared to March last year, but it also increased significantly by 37% compared to January this year. The heat of the second-hand housing market is gradually spreading to the new housing market. Data from Shanghai Centaline Property shows that in March, the transaction area of new commercial residential buildings in Shanghai was 563,000 square meters, an increase of 251.6% compared to the previous month, with an unprecedented rebound. It is worth mentioning that as the market warms up, signals of narrowing discounts and stabilizing prices in the new housing market are beginning to appear. For example, Poly-Dohui Warm has announced that all house prices will increase by 0.5% starting from March 9th, and further tightening discounts starting from March 23rd. It is also understood that projects such as Jinhai Yunshu, Huafa Haishang Duhui, and One River Zhendi are also planning to gradually reduce discounts in April.