“Underpinned by favourable policies, Tianjin housing market is shifting to see more demand. It is also expecting quality projects with reasonable prices, a mainstream in the residential market, and differentiated regional volumes.”

VINCENT LI, SAVILLS RESEARCH

The home market gains momentum for recovery

• No new serviced apartment projects entered the market in Q1/2025, leaving the total stock at 1,176 units.

• The citywide vacancy rate fell 0.8 ppts QoQ to 16.3% down 0.1 ppts YoY. Service apartment rents grew 1.9% QoQ to an average of RMB229 psm pmth, down 0.6% YoY.

• First-hand residential supply decreased from the previous quarter, recorded at 1.04 million sqm, down 25.5% QoQ and 20.0% YoY; transaction volume was 1.51 million sqm, a decrease of 43.0% QoQ and 13.0% YoY.

• First-hand residential transaction prices remained flat QoQ and increased 3.4% YoY to an average of RMB18,078 psm.

• No new high-end residential projects were launched in Q1/2025 and transactions were mainly from existing projects. The average transaction price for high-end residences dropped to RMB 40,358 psm, up 0.7% QoQ but down 2.3% YoY.