Shanghai's second-hand housing market has picked up steam in the first seven months of this year, with transactions reaching about 170,400 units, a year-on-year increase of about 14 percent, according to the Shanghai Real Estate Trading Center.
A manager at a real estate agency in Minhang District said that customer inquiries and property viewings had risen notably compared to the same period of last year, driven by Shanghai's new housing policies introduced early this year and improved buyer sentiment.
"My budget is about 6 million yuan (889,700 U.S. dollars). I have a small two-bedroom apartment, but we're thinking of upgrading to a three-bedroom one," said Li Fan, a home buyer.
"From May to July, the monthly sales volume stayed at 15 units or more. On weekends, we would guide 15 to 20 families through property viewings. The decision-making timeline for home buyers has also shortened from 3 to 6 months last year to just 1 to 2 months this year," said Wu Ruiming, a real estate agency manager.
Data show that in the first seven months, Shanghai's resale housing market recorded more than 22,000 transactions in each of the six months excluding February when the traditional Spring Festival holiday fell.
In July 2026 alone, second-hand home sales in Shanghai reached 23,078 units, up 19.3 percent year on year, marking the strongest July performance in the past five years.
Tang Daizhong, deputy director of the Department of Construction Management and Real Estate at the Tongji University's School of Economics and Management, said that pre-owned home prices had already seen significant adjustments earlier this year, making their value as an asset class relatively more apparent.
The overall trend for the second half of the year will remain stable with a positive outlook, he predicted.
Shanghai's second-hand home market rebounds in first seven months
