China's housing market edges toward rebound, stability
China's property market shows signs of recovery with rising transaction volumes in major cities and easing price declines in March. The rebound is driven by targeted policy adjustments, including easing restrictions on home purchases and increasing affordable housing supply.
China's property market is recovering, with 14 of 70 large and medium-sized cities seeing new home price increases in March. Beijing's second-hand home registrations hit a 15-month high, while Shanghai posted a five-year daily record of transactions. The rebound is driven by policy adjustments, including easing restrictions on home purchases by non-registered families in Beijing and shortening social security payment periods in Shanghai. More than 100 cities introduced property-related policy adjustments in the first quarter of 2026. Cities like Zhengzhou and Jingdezhen are implementing projects to convert existing housing stock into affordable housing, addressing a structural mismatch. The national floor area of unsold commercial housing fell 0.1 percent year on year by the end of March, the first decline in 52 months.
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