Guangzhou's real estate market experiences a "small spring" as some second-hand home owners adjust prices accordingly

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Since March, Guangzhou’s real estate market’s “early spring rally” has arrived unexpectedly, and both the primary and secondary home markets have moved in sync onto a warming curve. Recently, a reporter from Shanghai Securities News visited the Guangzhou real estate market and found that: several high-end luxury-housing projects worth tens of millions have seen a rebound in sales, becoming the “trailblazer” for the recovery in the new-home market; some relatively newer secondary listings with well-developed supporting facilities have also seen an increase in transaction volume, and in some cases certain homeowners have raised their asking prices accordingly. Those interviewed believe that this round of Guangzhou’s “early spring rally” has clear structural characteristics—sales of smaller units remain the mainstay, and the primary buyers are demand-side customers with total prices ranging from 1 million yuan to 2 million yuan. Looking ahead, as subsequent new-home supply continues to come to market, this round of the market is expected to continue. (Shanghai Securities News)

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