Ke Rui: The enthusiasm of real estate companies for new housing projects in November has slightly increased, and the monthly supply in Guangzhou has doubled compared to the previous month.

CRIC Real Estate Research released the "November 2025 China Real Estate Market Analysis Monthly Report". Data shows that in November, the enthusiasm of real estate companies to launch new projects slightly increased, with an expected increase of 6.69 million square meters in new supply in 30 key cities, a 16% increase from the previous month. Among the first-tier cities, Guangzhou saw a temporary surge in supply, doubling from the previous month. The four first-tier cities are expected to have an overall supply area of 1.49 million square meters, a 23% increase from the previous month. Among them, Guangzhou's monthly supply reached 610,000 square meters, doubling from the previous month due to a low base in the previous month, and also achieving a 4% year-on-year growth. Second and third-tier cities saw a 14% increase from the previous month, benefiting mainly from concentrated launching of projects in cities such as Xi'an, Suzhou, Dongguan, and Changzhou.