Ding Zuyu from Pray Smart: The real estate market is "confirming the bottom," with multiple core data points rebounding.

A series of important data is indicating that the Chinese real estate sector is currently in a period of 'bottom confirmation.' Recently, Ding Zuyu, Chairman of Prudent Intelligent and Dean of Shanghai E-House Real Estate Research Institute, stated during an analysis of the housing market data for the first half of the year that there were no significant regulatory policies impacting the real estate market this year. However, positive changes have already emerged in market transactions. Research data from Prudent Intelligent shows that in the first half of this year, the total demand for home purchases in 20 key cities across the country has steadily increased, with the total transaction area for both new and second-hand homes growing by 4% year-on-year, reaching a new high for the same period in nearly three years. Among these, the second-hand housing market has performed even more prominently, with the transaction area increasing by 13% year-on-year and by 22% quarter-on-quarter, achieving the largest transaction scale for the same period in nearly four years. Meanwhile, signs of stabilization have also appeared in the new housing market. The transaction volume of new homes in 50 key cities nationwide saw a slight quarter-on-quarter increase of 1%, with the year-on-year decline narrowing to 11%; the transaction scale of new homes in the second quarter increased by 41% compared to the first quarter. "Looking at the transaction data, there has been a noticeable recovery in the real estate market in the first half of this year," Ding Zuyu believes. He noted that the adjustments in the market over the past few years have primarily focused on the demand side and confidence side, and as the policy environment continues to improve and restrictive policies in core cities are gradually adjusted, the market is gradually seeking a new balance.