With the official end of the property market in 2025, several key cities handed over the second-hand housing market's “annual report card”: Shanghai's second-hand housing turnover reached 254,000 units, a record high in four years. According to Kerui data, in 2025, the second-hand housing transaction area in 30 key cities across the country reached 214 million square meters, becoming the core driving force for market restoration. Industry analysts believe that as the Ministry of Finance cuts value-added tax on real estate transactions, second-hand housing market transactions are expected to continue to pick up in 2026 amid policy dividends.

With the official end of the property market in 2025, several key cities handed over the second-hand housing market's “annual report card”: Shanghai's second-hand housing turnover reached 254,000 units, a record high in four years. According to Kerui data, in 2025, the second-hand housing transaction area in 30 key cities across the country reached 214 million square meters, becoming the core driving force for market restoration. Industry analysts believe that as the Ministry of Finance cuts value-added tax on real estate transactions, second-hand housing market transactions are expected to continue to pick up in 2026 amid policy dividends.