Driven by the late-April property policy easing including targeted purchase-limit relaxation and higher housing provident fund loans, Shenzhen’s real estate market picked up sharply in May 2026. Total signed deals of new and second-hand residential properties hit 10,077 units, breaking the 10,000-unit threshold after 13 months with a 28% month-on-month jump, marking the market’s shift from mild recovery to solid rebound.

New homes stood as the key growth engine. In May, 4,543 new residential units were registered, up 34% from April, among which pre-sale units surged 53% to 2,819 while existing new home sales edged up 11% to 1,724. Districts including Futian, Yantian and Guangming doubled pre-sale transaction volume, and Bao’an plus Longhua each registered over 600 pre-sale deals. Three new projects sold out right after launch: a cost-effective residential project in Guangming generated RMB 900 million revenue in five days, and two luxury mansion projects in Nanshan and Bao’an were fully subscribed on opening day, with a top-floor penthouse setting a new domestic housing price record.

The April 29 policy optimized purchase restrictions in Futian, Nanshan and Xin’an Subdistrict of Bao’an, allowing non-local residents with valid Shenzhen residence permits to buy properties in core areas without social security proof, and lifting provident fund borrowing caps to ease homebuying costs. In the first month after the policy rollout, 4,404 provident fund loans worth RMB 6.82 billion were approved with average loan size of RMB 1.55 million, rising 21% year-on-year. More homebuyers turned to mortgage loans, fueling market purchasing power.

Second-hand housing maintained stable performance: 5,534 used homes were traded in May, down 6% month-on-month yet rising 21% year-on-year above the 5,000-unit critical line. Transactions in Futian and Nanshan climbed 12% and 17% respectively. Upgraded deal structure lifted average second-hand price to RMB 60,800 per square meter, a 5% monthly gain. More property owners opted to raise asking prices amid shrinking inventory, which fell from 86,702 units in early January to 81,714 units by late May.

Industry analysts expect a mild cooling in June but no sharp downturn. Supported by continuous population inflow and improving housing replacement cycle, Shenzhen’s property market will keep recovering in the long run.