Multiple cities' real estate markets are experiencing a "small spring" trend, with hot projects selling out immediately at launch.

Source: Securities Daily Author: Chen Xiao

Since March, the “small spring” market in many regions has gradually emerged, with many hot projects achieving “hot sales upon opening,” and market sentiment has significantly improved compared to the beginning of the year. Real estate companies have noticeably accelerated their sales pace, aiming to seize the window period to speed up sales and cash flow.

Specifically, the new housing market in Beijing has been the first to show warmth. On March 22, the Jiatang Jingyue project, jointly created by Beijing Construction Engineering Group Co., Ltd. and multiple parties, opened for sale, achieving 266 units sold on the same day.

A real estate agent from Lianjia told a reporter from Securities Daily that the project launched about 400 units, and the number of reservations before the opening exceeded 500 groups. “The smaller units around 100 square meters are selling faster, and buyer enthusiasm has clearly increased.”

On March 20, a reporter from Securities Daily observed at the Zhongjian Guoxianfu PARK project site that the sales office, which had not yet opened, was bustling with people, the negotiation area was fully occupied, and there were people waiting in line to enter the model units. “The project is preparing to open, and the number of visitors has clearly increased recently; even weekdays are busy,” a sales staff member told the reporter.

The high-end market in Shenzhen continues to show strong performance. In March, the Shenzhen Bay Luanxi project, jointly developed by China Resources Land Limited and China Overseas Property Development Group Co., Ltd., held its second opening and welcomed another round of hot sales, with the cumulative sales exceeding 23.9 billion yuan after four months on the market.

The Shanghai market also has its highlights. In mid-March, the Zhongjian Yipin Bund Yuanjing project achieved sales of 900 million yuan during its second opening, setting a record for sales of style products within 48 hours; the second batch of units at the Zhonghuan Ludao project sold out immediately upon opening.

From a data perspective, market enthusiasm is gradually rising. Data from the China Index Academy shows that in week 12 of 2026 (March 15-21), the transaction area of new homes in 30 cities reached 2.48 million square meters, a month-on-month increase of 15.9%. Among them, Beijing’s new home transactions increased by 31.7% month-on-month, leading the increase among first-tier cities; second-tier representative cities recorded transactions of 1.47 million square meters, a month-on-month increase of 30.1%, with significant transaction volume increases in cities like Chengdu, Hangzhou, and Suzhou.

Looking at a longer time frame, the trend of market warming is becoming clearer. Since March (March 1-21), the transaction area of new homes in 30 cities has seen a month-on-month increase of 101.4%, achieving a doubling growth, with market enthusiasm showing an upward trend.

The signs of a recovery in the second-hand housing market are also significant. Data from the China Index Academy shows that in week 12 of 2026, 36,003 second-hand homes were sold in 20 cities, a month-on-month increase of 11.3%. Among them, Beijing’s second-hand home transactions increased by 19.7% month-on-month and 13.7% year-on-year; overall, since March, transactions of second-hand homes in 20 cities have increased by 90.3% month-on-month, with significantly enhanced activity.

At the same time, inventory pressure in key cities has eased. Monitoring data from the China Index Academy shows that the available area of new homes in Shenzhen decreased by 3.5% month-on-month, with a leading pace of sales among first-tier cities; some second-tier cities have also seen a decline in inventory, indicating an enhanced market absorption capacity.

On the policy level, signals to stabilize the housing market continue to be released. For example, Shanghai has lowered the down payment ratio for commercial properties to 30%, Nanjing is providing interest subsidies for “upgrading housing consumption,” and cities like Shenzhen and Shenyang are promoting demand release through optimized housing fund policies.

Overall, since March, the real estate market has shown characteristics of “increased transactions and accelerated sales.” Yan Yuejin, vice president of the Shanghai E-House Real Estate Research Institute, told a reporter from Securities Daily that with continuous policy support and a concentration of quality projects entering the market, the market enthusiasm in core cities is expected to continue. However, the differentiation between different cities and projects will persist, and a comprehensive recovery in the industry will still take time.

(Edited by: Wenjing)

Keywords: Real Estate Market