Wang Yi, Head of Goldman Sachs China Real Estate Team: Shanghai and Shenzhen Real Estate Markets Expected to Lead Recovery.

Wang Yi, head of the real estate team at Goldman Sachs China and co-head of stock research in Greater China, said in an interview with Securities Times that the real estate markets in Shanghai and Shenzhen are expected to bottom out by the end of this year, with overall housing prices in these two cities expected to rise by 15% from the end of 2026 to the end of 2028. She pointed out that the current real estate market demand is still in a differentiated state, with recovery driven by high-end demand and transactions in older and smaller properties in the central urban areas, while the middle segment is still adjusting.