Dragon Boat Festival holiday Shanghai new house transaction area increased by 87% year-on-year, 9 properties achieved "sunlight" in May.

Since the beginning of this year, the Shanghai real estate market has continued to show signs of stabilization and improvement. From the slow season at the beginning of the year to the "golden March silver April" mini spring, the market heat has been continuously rising. In May and during the Dragon Boat Festival holiday, both the transaction volume and market activity of the Shanghai property market continued to remain stable. According to data from Shanghai Centaline Property, during the Dragon Boat Festival holiday, the heat of transactions for new residential properties in Shanghai did not decrease, with a total of 46,100 square meters sold, an increase of 87.40% compared to the same period last year. Looking back at May, the market performance was significantly better than the same period last year. Data from the Shanghai Real Estate Administration Bureau shows that a total of 2.23 million square meters of first and second-hand residential properties were sold in Shanghai in May, an increase of 17% compared to the same period last year. In particular, the market for first-hand residential properties remained stable, with 620,000 square meters sold, an increase of 24% compared to last year. The supply side is also very active, with the supply of new properties in Shanghai reaching 735,000 square meters in May, an increase of 49.2% compared to the previous month and an increase of 30.2% compared to last year. Among the 40 projects entering the market, 10 are high-priced properties over 100,000 square meters, many of which were sold out as soon as they were put on the market, including many popular online celebrity properties.