Guangzhou's Real Estate Market Continues Recovery Trend in Q1 with Positive Growth

In Q1, Guangzhou's Real Estate Market Further Consolidated Its Recovery Trend

According to the latest data released by the Guangzhou Municipal Housing and Urban-Rural Development Bureau on March 27, the online signing area of first-hand commercial properties in Guangzhou reached 2.1856 million m² in Q1, up 17.7% YoY. The transaction registration area of second-hand commercial properties was 2.8258 million m², up 27.6% YoY. Among them, the online signing area of first-hand residential properties in Guangzhou was 1.7267 million m², up 36.8% YoY, with all 11 districts in Guangzhou experiencing YoY growth exceeding 10%. The transaction registration area of second-hand residential properties was 2.4227 million m², up 26.2% YoY, with all 11 districts achieving positive YoY growth. The Guangzhou Municipal Housing and Urban-Rural Development Bureau stated that in Q1, Guangzhou's real estate market further consolidated its recovery trend, with continuous positive growth in new commercial property transactions, a steady bottoming out of housing prices, and a further shortening of the destocking cycle for first-hand residential properties.