“In 1H/2025, first-hand commodity housing transactions in the Primary Ring increased by 10.6%, reaching 3.29 million sq m. This surge, driven by strong demand and rapid inventory reduction, pushed the average price up by 6.5% YoY. Meanwhile, the land market in this area remained active, while the Secondary Ring faced price pressure.”

SOPHY PAN, SAVILLS RESEARCH



Urban housing prices have trended upward

• In 1H/2025, first-hand commodity housing supply in the Primary Ring1 was about 2.34 million sq m, down 30.5% YoY.  

• The Primary Ring’s first-hand commodity housing transactions totaled 3.29 million sq m, up 10.6% YoY.      

• The average first-hand commodity housing price in the Primary Ring was RMB28,278 psm, up 6.5% YoY. 

• Residential land transactions in the Primary Ring reached 716,000 sq m. 

• In 1H/2025, first-hand commodity housing supply in the Secondary Ring2 was about 1.84 million sq m, down 17.8% YoY.  

• First-hand commodity housing transactions in the Secondary Ring totaled 2.51 million sq m, up 9.6% YoY.     

• The average first-hand commodity housing price in the Secondary Ring was RMB13,534 psm, down 2.7% YoY.