On Friday, the Ministry of Housing and Urban-Rural Development said that China's real estate market has entered a new phase, centered on how to dissolve existing housing stock. At present, the share of second-hand home transactions in total housing transactions rose from 27 percent in 2020 to 46 percent in 2025, and 52 percent in the first eight months of this year, surpassing new homes to become the main force in the housing transaction market. This is the most intuitive market evidence of the transformation of the stage of real estate development.
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