China Housing Splits as Hangzhou, Chengdu Lead New-Build Strength and Resale Market Weakens
Updated
Updated · isimarkets.com · Jun 5
China Housing Splits as Hangzhou, Chengdu Lead New-Build Strength and Resale Market Weakens
3 articles · Updated · isimarkets.com · Jun 5
Summary
Granular city data show China’s housing market is diverging: resale homes remain weak, while new-build sales are holding up better in several key cities.
Household spending softness is weighing more heavily on the secondary market, while new-build performance offers a clearer read on developer conditions and the impact of policy support.
Hangzhou and Chengdu rank among the healthiest new-build markets, and Shanghai also stands out, likely reflecting tight supply of higher-quality projects.
Beijing and Guangzhou fall into “new-build discount” territory, where average resale transactions cost more than new homes because much new supply sits on outer districts while resale stock includes mature central areas.