China’s Ministry of Housing and Urban-Rural Development said 1H2026 property
data show policy measures are taking effect and the market has shifted from an
incremental new-build era to a stock era. Resale homes accounted for 50.4% of
total transactions in 1H; in 18 provinces and municipalities including Beijing,
Shanghai, Jiangsu and Guangdong resale residential transaction area exceeded
newly built commodity housing. The ministry said transaction structure and scale
are changing, with rising resale volumes and lower new-home volumes becoming the
norm; property-driven investment will shift toward urban renewal and developers
will diversify from single-site development into contracting, rental and
operations.
