--- title: "Guolian Minsheng Securities: In March, the transaction volume of new homes steadily rebounded, and land auctions continued to heat up" type: "News" locale: "en" url: "https://longbridge.com/en/news/235176132.md" description: "Guolian Minsheng Securities released a research report indicating that from January to March 2025, the transaction area of commercial housing in 35 cities was 32.1 million square meters, a year-on-year decrease of 5.46%, but the transaction area in first-tier cities increased by 7.72% year-on-year. In March, new home prices increased by 0.17% month-on-month and 2.63% year-on-year. Real estate companies are increasing their supply efforts, with a sufficient supply of quality improvement products. It is expected that the new home market will continue its weak recovery trend in the second quarter, and the land market will continue to heat up, which is expected to promote the stabilization of the real estate market" datetime: "2025-04-09T08:50:03.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/235176132.md) - [en](https://longbridge.com/en/news/235176132.md) - [zh-HK](https://longbridge.com/zh-HK/news/235176132.md) generator: "portal-rs" --- # Guolian Minsheng Securities: In March, the transaction volume of new homes steadily rebounded, and land auctions continued to heat up According to the Zhitong Finance APP, Guolian Minsheng Securities released a research report stating that from January to March 2025, the cumulative transaction area of commercial housing in 35 cities was 32.1 million square meters, a year-on-year decrease of 5.46%, with the decline narrowing by 0.92 percentage points compared to January-February. The transaction area in first-tier cities increased by 7.72% year-on-year. In terms of prices, the new home prices in 100 cities continued to rise in March, with a month-on-month increase of 0.17% and a year-on-year increase of 2.63%. In March, real estate companies increased their supply efforts, with ample supply of quality improvement products, and the "little spring" in high-level cities was substantial. Looking ahead to the second quarter, on the demand side, new homes may continue the trend of weak recovery driven by improvement products in core projects of core cities, while second-hand homes may continue to fluctuate at high levels; on the supply side, the land market continues to heat up, which is expected to form a virtuous cycle with the new home market, promoting stability in the real estate market. ## The main views of Guolian Minsheng Securities are as follows: **New Home Sales: Transaction Volume Steadily Rebounds, Performance of Real Estate Companies Remains Divergent** From January to March 2025, the cumulative transaction area of commercial housing in 35 cities was 32.1 million square meters, a year-on-year decrease of 5.46%, with the decline narrowing by 0.92 percentage points compared to January-February. The transaction area in first-tier cities increased by 7.72% year-on-year. In terms of prices, new home prices in 100 cities continued to rise in March, with a month-on-month increase of 0.17% and a year-on-year increase of 2.63%. In March, real estate companies increased their supply efforts, with ample supply of quality improvement products, and the "little spring" in high-level cities was substantial. The performance of real estate companies continued to diverge, with Yuexiu Property and Huafa Properties achieving cumulative sales amounts year-on-year growth of +41.98% and +44.77%, respectively, while Poly Development, China Resources Land, and Greentown China remained basically flat year-on-year. **Second-Hand Home Sales: Transaction Volume Fluctuates at High Levels, Prices in First-Tier Cities Remain Stable** From January to March 2025, the cumulative transaction area of second-hand homes in 15 cities was 24.41 million square meters, a year-on-year increase of 25.43%, with the growth rate narrowing by 2.55 percentage points compared to January-February. In March, the transaction area of second-hand homes in 15 cities was 10.05 million square meters, a year-on-year increase of 26.46%, maintaining positive year-on-year growth for 10 consecutive months. In terms of prices, the second-hand home prices in 100 cities decreased by 0.59% month-on-month and by 7.29% year-on-year in March. The second-hand home market continued the trend of exchanging price for volume, with a smaller month-on-month decline in prices in first-tier cities. **Land Market: Land Auctions Continue to Heat Up, High Premiums Drive Volume and Price Increases** From January to March 2025, the cumulative transaction area of residential land in 300 cities nationwide was 43.14 million square meters, a year-on-year increase of 6.04%, with the growth rate expanding by 4.57 percentage points compared to January-February; the cumulative average transaction price was 8,107 yuan per square meter, a year-on-year increase of 27.50%. In March 2025, the premium rate for residential land in 300 cities nationwide was 20.64%, exceeding 10% for three consecutive months, with cities like Beijing, Suzhou, and Hangzhou breaking records for land prices. Market expectations in core cities are gradually improving, and the enthusiasm of real estate companies for land acquisition has increased, with continued heating in land auctions for quality plots and rising transaction prices. **Investment Recommendations: Continue to Recommend Leading Central State-Owned Enterprises and Improvement-Oriented Real Estate Companies** Looking ahead to the second quarter, on the demand side, new homes may continue the trend of weak recovery driven by improvement products in core projects of core cities, while second-hand homes may continue to fluctuate at high levels; on the supply side, the land market continues to heat up, which is expected to form a virtuous cycle with the new home market, promoting stability in the real estate market In terms of targets, it is recommended to focus on leading central state-owned enterprises and improvement-oriented real estate companies that have the ability to continuously acquire land in key urban core areas, with high product quality and good service, such as Greentown China (03900), China Overseas Land & Investment (00688), Binjiang Group (002244.SZ), C&D International Group (01908), and C&D INC. (600153.SH); also pay attention to real estate intermediary platforms with core competitiveness, such as 5i5j (000560.SZ). **Risk Warning** Policy effects may not meet expectations, liquidity risks for real estate companies may worsen, and market confidence may fall short of expectations ### Related Stocks - [002244.CN](https://longbridge.com/en/quote/002244.CN.md) - [600153.CN](https://longbridge.com/en/quote/600153.CN.md) - [000560.CN](https://longbridge.com/en/quote/000560.CN.md) - [600325.CN](https://longbridge.com/en/quote/600325.CN.md) - [00123.HK](https://longbridge.com/en/quote/00123.HK.md) - [600048.CN](https://longbridge.com/en/quote/600048.CN.md) - [00688.HK](https://longbridge.com/en/quote/00688.HK.md) - [03900.HK](https://longbridge.com/en/quote/03900.HK.md) - [01908.HK](https://longbridge.com/en/quote/01908.HK.md) ## Related News & Research - [3 stocks to buy and hold even if there's a stock market sell-off in September](https://longbridge.com/en/news/298828789.md) - [REG - Glazer Capital, LLC Irish Continental - Form 8.3 - Irish Continental Group plc](https://longbridge.com/en/news/298745710.md) - [G Sachs: Weak CN Consumer Demand, Widening Divergence in Trends; F&B, White Goods Favored; Yum China, GUMING Recommended](https://longbridge.com/en/news/298539807.md) - [Havas, linked to Louis Hachette director Yannick Bolloré, purchases EUR 5.31 million of Louis Hachette Group shares](https://longbridge.com/en/news/298621675.md) - [Midea files HKEX next-day disclosure return reporting 68,565 new A-shares issued via option exercise](https://longbridge.com/en/news/298711335.md) --- > **Disclaimer: This article is for reference only and does not constitute any investment advice.**