Media365
Shanghai’s secondary housing market surged over the weekend, with 1,632 transactions on Saturday – the highest daily total in five years – as activity in higher-value properties picked up.
Analysts, however, remained cautious about how long the rebound could last, warning that performance was likely to diverge across cities, regions and individual projects.
The latest tally surpassed earlier peaks this year, including 1,585 transactions on March 28 and 1,472 on March 14, according to the Shanghai Real Estate Trading Centre.
“March and April are typically seasonally strong months, supported by pent-up demand after the Spring Festival and by parents purchasing homes in school catchment areas,” said Lulu Shi, director of Asia-Pacific corporate ratings at Fitch Ratings.
She said sentiment remained fragile amid persistent structural pressures, including a weak job market and elevated housing inventories.
“Intensifying global geopolitical tensions are also adding to uncertainty and may weigh on the durability of the recovery,” Shi added.
