CRIC Real Estate Research: In March, the top 100 real estate companies achieved a sales turnover of 317.57 billion yuan, an increase of 68.8% compared to the previous month, and a decrease of 11.4% compared to the same period last year.

Cushman & Wakefield Real Estate Research has stated in a report that in the first quarter of 2025, the overall Chinese real estate market remained at a low level, continuing the trend of stabilizing after a downturn. In March, the TOP100 real estate companies achieved a sales turnover of 317.57 billion yuan, an increase of 68.8% compared to the previous month, but a decrease of 11.4% year-on-year, maintaining a historically low level in terms of monthly performance. In terms of cumulative performance, the top 100 real estate companies achieved a sales turnover of 733.3 billion yuan in the first quarter, a decrease of 5.9% year-on-year. The threshold for sales of the top 100 real estate companies was lowered in March 2025. The sales turnover thresholds for the TOP20 and TOP30 real estate companies decreased by 4.3% and 2% year-on-year to 9 billion yuan and 5.34 billion yuan respectively. The thresholds for the TOP50 and TOP100 real estate companies also decreased by 5.7% and 4.3% year-on-year to 3.09 billion yuan and 1.24 billion yuan respectively. In March, new home transactions stabilized with a slight increase of 3% year-on-year, and it is expected that this weak recovery trend will continue in April. In March, due to increased supply and marketing efforts by real estate companies, a partial "mini spring" market was observed: the transaction volume in 30 monitored cities in March was 12.13 million square meters, a significant increase of 76% month-on-month and a slight increase of 3% year-on-year; cumulative transactions in the first quarter increased by 6% year-on-year. In terms of different city tiers, first-tier cities showed more resilience compared to second and third-tier cities, with a nearly doubled month-on-month increase and an 8% year-on-year increase in March, and a 22% year-on-year increase cumulatively, which was significantly higher than second and third-tier cities. Second and third-tier cities showed moderate performance with transaction volumes remaining similar to last year, with some cities experiencing a slight recovery, while others continued to struggle with weak demand. Looking ahead to next month, April is expected to continue the trend of weak recovery as it is traditionally a peak season for real estate transactions. In core first and second-tier cities such as Beijing, Shanghai, Shenzhen, Chengdu, and Hangzhou, high-level market fluctuations are expected to continue, with the extent of transaction volume depending on the supply of high-end residential properties. In cities like Guangzhou, Wuhan, and Nanjing, which have experienced significant adjustments in the past, the market is showing signs of stabilization, and future transactions are expected to continue the weak recovery trend. However, some weaker second-tier cities like Fuzhou, Nanning, Kunming, and Changchun continue to face challenges of high inventory, making it difficult to predict a favorable overall turnover.