BUSINESS

Shenzhen Home Sales Revive in Early March as Market Seeks Bottom

Published: Mar. 17, 2026 10:35 p.m. GMT+8

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Residential buildings in Luohu district, Shenzhen. Photo: VCG

Home sales in the southern Chinese metropolis of Shenzhen revived in the first two weeks of March following the Lunar New Year holiday, fueling hopes that the battered local property market has finally hit bottom.

Transactions for both new and pre-owned homes rose significantly. Pre-owned home sales in Shenzhen surged 118% week-on-week in the first week of March and climbed another 45% the following week, according to major brokerage Ke Holdings Inc., better known as Beike.

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Shenzhen’s home sales surged in early March 2026, with pre-owned sales up 118% and 45% week-on-week, and new home subscriptions up 69% and 57%.
Average transaction prices for pre-owned homes rose three consecutive months, reaching 62,000 yuan/sq m in February, but gains were driven by depletion of cheaper inventory.
Market confidence improved, yet experts caution the rebound may not last as underlying fundamentals remain weak and broader economic challenges persist.

AI generated, for reference only

Who’s Who

Beike: Beike, a major brokerage, reported significant increases in home sales in Shenzhen following the Lunar New Year holiday. Pre-owned home sales surged, and new home subscriptions at Beike's local agencies also rose. Their data showed average daily transactions ranging between 100-200 units in early March, compared to fewer than 100 before the holiday. Some market participants see this as a sign of stabilization.

Leyoujia: Leyoujia is a market data provider. According to their data, the average transaction price for pre-owned homes increased for three consecutive months, rising by 0.9% in December 2025, 0.5% in January 2026, and 7.3% in February, reaching 62,000 yuan ($8,975) per square meter.

AI generated, for reference only

What Happened When

Early 2025：: Peak levels of pre-owned home sales in Shenzhen referenced.

August 2025：: The proportion of Shenzhen homeowners raising asking prices was about 8%.

December 2025：: The average transaction price for pre-owned homes in Shenzhen rose by 0.9%.

January 2026：: The average transaction price for pre-owned homes in Shenzhen rose by 0.5%.

February 2026：: The average transaction price for pre-owned homes in Shenzhen rose by 7.3% to 62,000 yuan per square meter.

First two months of 2026：: The proportion of Shenzhen homeowners raising asking prices climbed to 20%.

Feb. 24, 2026 to March 15, 2026：: Signings for pre-owned home transactions at Beike local branches rose for three consecutive weeks following the Lunar New Year holiday, with total volume up 15% year-on-year.

Early March 2026：: China’s annual 'Two Sessions' parliamentary meetings were held, proposing further efforts to stabilize the property market.

First week of March 2026：: Pre-owned home sales in Shenzhen surged 118% week-on-week and new home subscriptions at Beike’s local agencies increased 69% week-on-week.

Second week of March 2026：: Pre-owned home sales in Shenzhen climbed another 45% and new home subscriptions at Beike’s local agencies increased 57%.

First two weeks of March 2026：: Home sales in Shenzhen revived following the Lunar New Year holiday; average daily transactions at Beike’s Shenzhen outlets ranged from 100 to 200 units.