Multiple Local Real Estate Markets Experiencing "Little Spring" Rally as Developers Accelerate Project Launches

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Reporter Chen Xiao

Since March, the real estate market in many cities has gradually shown signs of a “small spring,” with many hot projects selling well immediately after opening, and market sentiment significantly improving compared to the beginning of the year. Developers are accelerating their launch pace to seize the window period and speed up sales and cash flow.

Specifically, Beijing’s new home market was the first to show warmth. On March 22, Beijing Construction Engineering Group Co., Ltd. jointly launched the Jiatang Jingyue project, selling 266 units on the opening day.

A real estate agent from Lianjia told Securities Daily that the project offered about 400 units, with more than 500 groups of reservations before opening. “Smaller units around 100 square meters sell faster, and buyers are more actively entering the market.”

On March 20, a reporter from Securities Daily visited the sales office of the Zhongjian Guoxianfu PARK project, which had not yet opened. The office was bustling with people, the consultation area was full, and some people were waiting in line to enter the showrooms. “The project is preparing for opening, and recent visitor numbers have increased significantly. It’s busy even on weekdays,” a sales staff member told the reporter.

The high-end market in Shenzhen also continues to perform strongly. In March, China Resources Land and China Overseas Property Development Group jointly launched the Shenzhen Bay Yunxi project for the second time, which again saw strong sales. The project’s total sales in four months exceeded 23.9 billion yuan.

The Shanghai market also has notable highlights. In mid-March, Zhongjian Yipin·The Bund Yuanjing’s second launch achieved 900 million yuan in sales, breaking the sales record for landscape-type products within 48 hours; the second batch of units at Zhonghuan Lumo Island was sold out immediately upon launch.

From the data perspective, market enthusiasm is gradually rising. According to China Index Academy, in the 12th week of 2026 (March 15–21), new home transactions in 30 cities totaled 2.48 million square meters, a 15.9% increase week-over-week. Among them, Beijing’s new home transactions increased by 31.7%, the highest among first-tier cities; second-tier representative cities saw 1.47 million square meters sold, up 30.1%, with significant volume increases in Chengdu, Hangzhou, Suzhou, and other cities.

Looking at a longer timeframe, the upward trend in the market becomes clearer. Since March 1 to March 21, new home transactions in 30 cities increased by 101.4% week-over-week, doubling, indicating a rising market heat.

Signals of a rebound in the second-hand housing market are also evident. China Index Academy data shows that in the 12th week of 2026, 36,003 second-hand homes were sold in 20 cities, an 11.3% increase week-over-week. Among them, Beijing’s second-hand home transactions increased by 19.7% week-over-week and 13.7% year-over-year; overall, since March, second-hand home transactions in 20 cities increased by 90.3% week-over-week, with activity clearly rising.

Meanwhile, inventory pressures in key cities have eased. Data from China Index Academy shows that Shenzhen’s available new home area decreased by 3.5% week-over-week, with a leading speed of clearance among first-tier cities; some second-tier cities also saw inventory decline, indicating improved market absorption capacity.

On the policy front, signals to stabilize the housing market continue to be released. For example, Shanghai lowered the down payment ratio for commercial properties to 30%, Nanjing provided interest subsidies for housing replacement, and cities like Shenzhen and Shenyang optimized housing provident fund policies to promote demand release through multiple measures.

Overall, since March, the real estate market has shown features of “rising transactions and accelerated launches.” Yan Yuejin, Deputy Director of E-House Research Institute, told Securities Daily that with continued policy efforts and the concentration of quality projects entering the market, the market heat in core cities is expected to persist, but differentiation among cities and projects will also continue, and a full industry recovery still requires time.

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Editor: Gao Jia