Shenzhen new-home market remained firm in July, with transactions of newly built
commodity housing at 2,664 units, up 32.5% YoY. Since the April 29 relaxation of
purchase limits in core districts, non-local buyer share has risen from below
10% to over 20% and is still growing. Apartment projects are near sell-out; some
developments sold about 40% at launch, and one project has sold nearly 120 homes
in the past 3.5 months. Industry sources expect a stronger traditional Golden
September–Silver October selling season.
