by WANG Yuhan

Shanghai's housing market has shown signs of recovery following a new round of policy easing, with second-hand home transactions surging and buyer sentiment improving.

Daily second-hand home transactions exceeded 800 units for five straight days between March 9 and March 13, averaging 874 per day, according to data from the city's official real estate platform.

Transactions climbed further on Saturday, March 14, reaching 1,472 units — close to the 1,500 mark and the highest level in nearly a year. Sales stayed high the following day at 1,390 units.

With March only halfway through, cumulative second-hand home transactions had already reached 13,955 units. Weekly sales also surged, with 7,233 homes changing hands last week, the highest weekly total since 2021.

Brokers said inquiries and home viewings have increased sharply in recent weeks, while the gap between buyers' offers and sellers' expectations has narrowed. Some agents said deals are closing faster as buyers who had previously stayed on the sidelines return to the market.

The rebound follows a new round of housing support policies introduced by Shanghai on Feb.25, known as the "Shanghai Seven Measures," which include easing purchase restrictions and lowering mortgage requirements.

Official data released on Monday also showed second-hand home prices in Shanghai rose 0.2% month on month in February, ending nine straight months of declines since May 2025.

LU Wenxi, senior research manager at Centaline Property, said the market is entering a faster recovery phase as policy measures take effect.

YAN Yuejin, deputy director at the Shanghai E-House Real Estate Research Institute, said the strong transaction data reflects active housing demand supported by earlier price adjustments and improving market confidence.

Shanghai's property market is widely seen as a bellwether for China's housing market, and analysts say the rebound in transactions could help boost confidence in other cities.