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Greater Bay Area Residential Market Largely Stabilized, Although Sentiment in Q2 2025 Marred by Geopolitical Risks
Logistics Portfolio Investment Transactions Gain Attention, Neighborhood Retail Assets Becoming Sought After
- Greater Bay Area (GBA) cities continued to extend property-related easing policies from last year through the 1H 2025 period, with a focus on alleviating financial pressure on the supply side and supporting overall residential market sentiment
- However, transaction activity slowed from April 2025, impacted by uncertainties from the trade tariff war, with 1H 2025 GBA primary residential sales numbers growing slightly at 3% y-o-y
- Total investment volume in the GBA commercial real estate (CRE) market reached RMB24.7 billion in 1H 2025, accounting for more than 31% of the overall Chinese mainland investment market
- The industrial/logistics sector’s share of total GBA CRE investment expanded notably with several large-sized logistics portfolio deals recorded, while neighbourhood retail malls also captured interest
HONG KONG SAR – Media OutReach Newswire – 29 July 2025 – Global real estate services firm Cushman & Wakefield today published its Greater Bay Area Residential and Commercial Real Estate Investment Market 1H 2025 Review and 2H Outlook. Local governments across GBA cities continued the real estate policies introduced last year through the 1H 2025 period to continue to support a stable market recovery, including easing restrictions on the demand side and alleviating financial pressures on the supply side. From January to March, primary residential market transaction numbers and prices demonstrated growth. Regardless, market sentiment has been weakened since April by uncertainties surrounding the trade tariff war, again prompting potential home buyers to adopt a wait-and-see approach, and resulting in a pause in the upward momentum in home prices. GBA primary residential sales numbers through 1H 2025 recorded mild y-o-y growth of 3%. As for the CRE investment market (large-sized deals at >RMB100 million), property owners have adjusted their expectations. The industrial/ logistics sector accounted for more than 50% of the total GBA investment consideration in 1H 2025, with several large-sized logistics portfolio deals recorded. At the same time, the market has seen increasing interest in the neighborhood retail sector, where assets with stable rental yields are gaining investors’ attention. We expect to see more high-quality retail assets transacted in the second half of the year.
GBA Residential Market
Following the Central Government’s reiteration of the need to halt the real estate market decline and spur a stable recovery in its 2025 work report, both the Central Government and GBA local governments continued to extend market-easing real estate policies from last year through the 1H 2025 period. Measures on the demand side, such as “four cancellations” and “four reductions” were extended. Authorities also focused on alleviating financial pressures on the supply side, aiming to strengthen overall market sentiment and boost buyer confidence. Key initiatives included promoting the launch of special-purpose bonds to reclaim and acquire idle land and unsold residential units. Notably, Guangzhou became the first Tier-1 city in the country to fully abolish the “three restrictions” in housing policy.
The GBA primary residential market showed resilience in the Q1 period despite being the traditional off-season. Monthly transaction numbers from January to March expanded on the same period last year. However, starting from April, greater uncertainties surrounding the trade tariff war weighed on overall economic performance and dampened residential market sentiment. In turn, more potential home buyers adopted a wait-and-see approach. New home sales in April fell by 16% from March, while May and June remained largely stable. The GBA primary residential market recorded approximately 137,000 transactions in the 1H 2025 period, up slightly at 3% y-o-y, with Tier-1 cities such as Guangzhou and Shenzhen showing significant growth. However, comparing with the significant recovery following last year’s introduction of aggressive easing policies, the 1H 2025 total transaction number was down 26% from the 2H 2024 level (Chart 1).
Chart 1: GBA First-Hand Residential Sales
Source: CREIS, Cushman & Wakefield
In terms of home prices, primary market prices are more swayed by the quality level of newly launched projects. First-hand residential prices in the nine GBA mainland cities showed mixed performances in 1H 2025. Developers generally adopted more realistic pricing strategies to attract buyers, actively offloading inventory to improve cash flow. For secondary home prices, which better reflect current underlying trends, and using Shenzhen as an example, the Cushman & Wakefield Shenzhen mid-to-high-end secondary home price index strengthened by 4.0% from the Q4 2024 level. However, as market sentiment turned more cautious from April, overall prices experienced downward pressure and recorded a q-o-q decline of 4.4% in Q2, bringing the year-to-date adjustment to a modest -0.5% (Chart 2).
Chart 2: Shenzhen Mid-to-High-End Secondary Home Price Index
Source: Cushman & Wakefield
Alva To, Cushman & Wakefield’s Vice President, Greater China & Head of Consulting, Greater China said, “With central and local governments continuing to relax demand-side policies, and with the central government actively promoting the development of “Good Housing,” we expect pent-up demand from both first-home buyers and upgraders to be further released. Through the past six months, local governments have accelerated the implementation of special-purpose bonds to reclaim and acquire idle land and unsold units, helping to alleviate developers’ financial pressures and promote supply-demand balance in the housing market. These efforts should also support potential homebuyers’ confidence and, in turn, a stable recovery in the GBA residential market. In the 1H 2025 period, new home sales numbers stood out in Guangzhou and Shenzhen, indicating that high-quality residential units, in prime locations in first-tier cities, at reasonable prices continue to be sought after despite market volatility.
“However, uncertainties surrounding trade tariff policies contributed to weaker sentiment in the GBA residential market in Q2, and the restoration of market confidence is expected to take time. We believe that, even if China-U.S. trade tensions show sign of easing in 2H 2025, lingering uncertainty may keep buyers cautious through the Q3 period, and residential transaction numbers are not likely to strengthen significantly. Nonetheless, fundamental housing demand from first-time homebuyers and upgraders is likely to provide continuous support to the GBA residential market. We forecast average monthly new home sales to record around 27,000 to 28,000 units in 2H 2025, bringing the full-year 2025 transaction number to approximately 300,000 units. Meanwhile, home prices are still facing downwards pressure, with a full-year price correction estimated in the range of a 0%–5% decline.”
GBA CRE Investment Market
The GBA CRE property investment market remained resilient in the 1H 2025 period, with total investment volume reaching RMB24.7 billion, marking a 108% increase compared to the same period last year, and accounting for around 31% of total investment volume in the Chinese mainland (see Chart 3). Among the 35 transactions, 31 were at less than RMB1 billion, reflecting that investors remain cautious on big-ticket transactions.
Chart 3: CRE Investment Transactions in the GBA (2020 – 1H 2025)
Source: Cushman & Wakefield
By property type, industrial and logistics assets accounted for the largest share of total CRE property investment in the GBA by transaction value in 1H 2025, with 14 related deals making up more than half of the total investment volume (see Chart 4). Within the industrial and logistics transactions, Tier-2 cities including Zhuhai, Foshan, Dongguan, Zhongshan, Jiangmen, Zhaoqing, and Huizhou, recorded a combined transaction volume of RMB9.6 billion, comprising both logistics portfolios and individual warehouse deals. Dongguan, classified as a Tier-2 city, stands out as a top choice for logistics investment due to its strategic location, making it the most desirable logistics hub within the GBA and a key focus for investors.
Investment interest in the neighborhood retail sector also continued to heat up in the 1H period. Assets with stable rental yields and mature operations are favored by the market, attracting a diverse range of buyers. A total of nine retail sector transactions were recorded in the GBA in 1H 2025.
Chart 4: Share of Asset Type in the GBA CRE Investment Market (by Transaction Volume)
Source: Cushman & Wakefield
Charli Chan, Cushman & Wakefield’s Deputy Managing Director, Capital Markets, China commented,
“Looking ahead to 2H 2025, among the various types of investment properties, we believe the logistics and commercial sectors will continue to outperform. With the ongoing expansion of cross-border e-commerce, demand for logistics assets has remained strong and continues to attract investor attention. However, the GBA’s warehouse market is expected to see a heavy new supply pipeline over the next two to three years, which will likely lead to a rise in vacancy rates and exert downward pressure on rents. Moreover, since the onset of the China–U.S. trade tensions, market sentiment has become more volatile. Logistics asset owners have become more pragmatic, allowing for greater room in price negotiations. This has helped narrow the expectation gap between buyers and sellers, potentially facilitating more transactions in logistics and warehouse facilities. We believe institutional and long-term investors will seize this opportunity to hunt for value. On the other hand, we expect to see more transactions involving high-quality commercial assets in the 2H 2025 period. Benefiting from the spillover of Hong Kong residents’ spending power and a shift toward mid- to lower-end consumption, well-performing shopping centers and community retail malls are gaining market traction and interest from potential investors. However, mall owners in Tier-1 cities tend to be more reluctant to sell, whereas owners in Tier-2 cities are more pragmatic, making retail projects in mature communities the preferred investment sectors for insurance companies and real estate funds.”
Please click here to download photos.
Photo 1: Alva To, Cushman & Wakefield’s Vice President, Greater China & Head of Consulting, Greater China (Left), and Charli Chan, Cushman & Wakefield’s Deputy Managing Director of Capital Markets, China (Right)
Hashtag: #Cushman&Wakefield
The issuer is solely responsible for the content of this announcement.
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global commercial real estate services firm for property owners and occupiers with approximately 52,000 employees in nearly 400 offices and 60 countries. In Greater China, a network of 23 offices serves local markets across the region. In 2023, the firm reported revenue of $9.5 billion across its core services of valuation, consulting, project & development services, capital markets, project & occupier services, industrial & logistics, retail and others. It also receives numerous industry and business accolades for its award-winning culture and commitment to Diversity, Equity and Inclusion (DEI), sustainability and more. For additional information, visit www.cushmanwakefield.com.hk or follow us on LinkedIn (
https://www.linkedin.com/company/cushman-&-wakefield-greater-china).
Hardware Built for Local Conditions
The company isn’t just showing off standard gear; they’ve brought systems specifically designed to handle the challenges of the local energy landscape.
- PowerX1 Hybrid Inverters: Intelligent energy management, seamlessly switching between solar, battery, and grid for stable, uninterrupted power. Supports multi-source integration and rapid power transition.
- Powerinfi All-in-one ESS: ISO 13849 PL-d and IEC 62443 certified for functional safety and cybersecurity. Features a multi-layer battery safety system within a compact design.
- Advanced Solar & System Protection: Incorporates N-type HOT3.0 solar cell technology for enhanced low-light performance. The system boasts an IP66 rating for superior dust and water resistance.
A New Partnership with MIA Group
The big news from the show floor is the new Annual Channel Distribution Strategic Partnership with MIA Group. MIA Group is already a household name in Pakistan for HVAC and energy, and this deal means they’ll be the main bridge for Midea Hiconics’ tech to reach the local market.
“We’re excited to get to work with MIA Group,” a Midea Hiconics spokesperson said. “They have the reach and the local knowledge we need. By putting our hardware in their hands, we’re making it much easier for people here to switch to reliable, clean energy without the usual headaches.”
Media Contact:
Midea Hiconics Press Office
Website: https://www.hiconics-global.com/
Location: Solar Pakistan 2026, Booth A-3-8
Hashtag: #MideaHiconics
The issuer is solely responsible for the content of this announcement.
About Midea Hiconics
Midea Hiconics (SHE: 300048) has been around since 2003 and joined the Midea Group in 2020. They focus on green energy, home storage, and industrial tech, building smart tools that help people take control of their own power.
Check out https://www.hiconics-global.com/ for more info.
Media OutReach
Green SM And Umoney Partner To Build An Integrated Mobility And Digital Finance Ecosystem In Laos
Under the agreement, Umoney will be integrated as a direct payment method within the Green SM app. The two parties will also implement an embedded integration model enabling Umoney users to seamlessly access Green SM’s mobility services directly within the Umoney platform.
For the first time in Laos, customers will experience a fully seamless ride-hailing journey with fares processed instantly via the Umoney e-wallet upon trip completion, replacing the previously common manual bank transfer method. Users simply link their Umoney wallet to the Green SM app for fast, convenient, and fully cashless transactions. Additionally, customers using partner banking applications can pay drivers through Umoney’s QR system, delivering a flexible, fast, and secure payment experience that enhances user convenience and broadens customer reach across both platforms.
As part of the collaboration, Green SM Laos will provide comprehensive mobility solutions for Umoney’s enterprise partners and individual customers, including Green SM Car electric ride-hailing, Green SM Limo, Green SM Airport transfer services, as well as corporate travel packages and flexible, customized mobility plans. Umoney, in turn, will collaborate with Green SM to develop digital financial and payment solutions tailored for drivers within the Green SM ecosystem, encompassing e-wallet services, direct income disbursement, operational expense payments, and cash flow management tools. This synergy is designed to optimize operational efficiency while enhancing the experience for businesses, drivers, and end-users alike.
Beyond mobility and payment solutions, both parties plan to expand their shared digital services ecosystem by integrating Umoney and Unitel’s telecommunications and digital utilities into the Green SM platform, including SIM card registration, mobile top-ups, data package purchases, and other digital services, thereby enhancing the value proposition for users across both platforms.
The two companies will also jointly roll out customer benefit programs targeting Umoney users in Laos, with a particular focus on airports, transaction points, and key high-traffic locations. Through integrated service offerings and incentives promoting electric mobility, Green SM and Umoney aim to foster environmentally responsible travel habits while delivering greater value to customers within their shared ecosystem.
Mr. Ha Chien Thang, Director of Star Fintech Sole Co., Ltd, shared:”Our partnership with Green SM marks a significant milestone in Umoney’s strategy to develop a comprehensive digital finance ecosystem in Laos. The integration of payment capabilities and digital services not only enhances user convenience but also contributes to the advancement of cashless payments and the broader digital transformation of the economy.”
Ms. Tran Hanh An, Director of Mobility Services Sales at Green SM Vietnam & Laos, stated: “The partnership between Umoney and Green SM reflects a shared commitment to connecting the essential infrastructures of modern urban life, from digital finance and telecommunications to a green mobility ecosystem. Through this collaboration, we aim to expand benefits for our customers and driver community while driving meaningful green transformation that is firmly grounded in everyday mobility and consumption needs.”
Furthermore, Green SM and Umoney will collaborate on multi-channel communications initiatives to strengthen brand awareness and expand their combined customer base. Planned activities include co-branded campaigns, promotional programs for new users, digital platform communications, and on-ground experiential activations in key markets.
The partnership between Green SM and Umoney marks a significant convergence of two leading ecosystems in green mobility and digital finance in Laos, united in their pursuit of integrated service solutions that meet the increasingly diverse demands of modern urban life. This collaboration also represents a pivotal step toward fostering innovation, elevating the user experience, and contributing to the sustainable growth of the digital economy in Laos.
Hashtag: #GreenSM
The issuer is solely responsible for the content of this announcement.
Global Leaders Converge to Shape the Future of Higher Education in Asia
HONG KONG SAR – Media OutReach Newswire – 24 April 2026 – The Hong Kong University of Science and Technology (HKUST) and Times Higher Education (THE) co-hosted the Asia Universities Summit 2026 from April 22 to 24. Under the theme “Igniting Global Transformation: Asia’s Leadership,” the three-day premier event explores Asia’s pivotal role in reshaping global innovation and addressing pressing societal challenges through higher education.
The Summit holds particular significance as it coincides with HKUST’s 35th anniversary and marks a decade of partnership between the University and THE since the inaugural summit. This year’s event has attracted over 600 university presidents, policymakers, and industry titans from 25 countries and regions, underscoring a collective commitment to advancing the academic landscape across the continent.
The Summit officially commenced on April 22 at HKUST’s Shaw Auditorium, with the opening ceremony officiated by Dr. SZE Chun-Fai, Jeff, Acting Secretary for Education of the Hong Kong Special Administrative Region (HKSAR) Government; Prof. Nancy IP, President of HKUST; Phil BATY, Chief Global Affairs Officer, and Mei Mei LIM, President, Asia Pacific, from THE.
In her opening remarks, President Ip underscored the need for cross-border collaboration and the evolving role of universities in a rapidly changing world. She said, “As HKUST celebrates its anniversary and a decade of partnership with Times Higher Education, we gather at a defining moment for our region. Asia is increasingly shaping the direction of global innovation, talent development, and societal transformation. In this era of rapid technological advancement and constant change—from artificial intelligence to climate resilience—the challenge of progress lies in anticipating needs and shaping solutions, which calls for a fundamental rethinking of how universities lead. At HKUST, we firmly believe that no single institution can address these global challenges alone; progress will come through openness, partnership, and shared responsibility.
Hong Kong is unique in being the only city in the world with five universities ranked among the global top 100, underscoring its role as a leading international hub for exchange and innovation. Building on this strength, HKUST has initiated dialogues with the world’s leading universities and invited them to Hong Kong to explore opportunities for a university town. This Summit reflects our long‑standing commitment to bringing institutions together to exchange ideas, build meaningful collaborations, and take collective action. By convening leaders from across Asia and beyond, we aim to turn thoughtful dialogue into real impact for our communities and for society at large.”
Dr. SZE Chun-Fai, Jeff, highlighted Hong Kong’s unique position as an international education hub, stating, “Universities today are not only centers of knowledge creation but also powerful drivers of innovation, resilience, and societal impact. In an era of rapid technological advancement, higher education must translate cutting-edge research into real-world solutions that address global challenges. HKUST exemplifies this excellence and achieves remarkable rankings, with its entrepreneurial story equally unmatched, demonstrating the worldwide impact of its research discoveries. Hong Kong has long served as the world’s super-connector and super-value adder, bridging East and West. Our highly internationalized and diversified post-secondary education system positions us ideally to facilitate this convergence between global academic networks and the opportunities of the Chinese Mainland and the wider region. Education, technology, and talent form a foundational triad for success. By fostering talent attraction, interdisciplinary education, industry-academic partnerships, and research collaborations with our counterparts elsewhere, we are building a vibrant ecosystem that strengthens Hong Kong’s innovation edge, contributing to Asia as well as national development.”
Phil Baty reaffirmed THE’s enduring partnership of trust with HKUST and celebrated Asia’s rising global influence, stating, “A decade ago, right here on this stunning campus, THE launched its first-ever Asia Universities Summit. Today, we are witnessing a tilt in the balance of power in global higher education and research from the West to the East. This extraordinary trajectory is driven by Asia’s booming research productivity and global ambitions. Hong Kong, with five universities now ranked among the world’s top 100, stands at the heart of this transformation—a city which we believe will remain the flagship atop the rising tide across Asia, cementing its position as a world-leading powerhouse. New knowledge creation is not a zero-sum game, as we all gain from the leapfrogging Asian university sector. This Summit is a celebration of your excellence and the glorious diversity of our academic community.”
Following the opening ceremony, President Ip joined Prof. Martin O. BERGÖ, Vice-President of Karolinska Institutet, in a keynote fireside chat on longevity science. The discussion explored how advances in biomedicine, neuroscience, and translational research can extend both lifespan and healthspan, while contributing to resilient and equitable societies. President Ip shared insights from her pioneering neuroscience research, including the University’s efforts to decode the biological basis of healthy aging. She said, “Healthy aging is not just about adding years to life, but adding life to our years. We need a paradigm shift from reactive to proactive care. At HKUST, we are focused on monitoring risks for any diseases early and implementing preventive measures. Longevity science is about extending the ‘healthspan’ and as a university, we have much to offer through our research and collaborations. We are uniquely positioned to contribute to this field.”
A spotlight on the first day was a fireside chat between Prof. Harry SHUM, Chairman of the HKUST Council, and Judson ALTHOFF, CEO of Microsoft’s Commercial Business. The dialogue delved into the transformative power of AI across both industry and academia, discussing how universities can collaborate with global technology leaders to prepare students for an AI‑pervasive world. Emphasis was placed not only on technological capability, but also on trust, critical thinking and mindset change within institutions.
Prof. Shum underscored the importance of embracing AI across disciplines, “For our university, at this time, the number one priority is really a mindset change—to focus on AI for science, engineering, business, humanities, and medicine. AI is already here. We do not have to be afraid of this technology. It is a powerful new tool for us and a wonderful thing that we must learn and master to drive growth and innovation.”
Throughout the Summit, President Ip participated in two leadership meetings with over 15 university presidents and senior leaders from institutions across Asia, engaging in candid, strategy‑focused exchanges on shared regional challenges. One session examined how Asia’s emerging innovation corridors—from the Greater Bay Area to other fast‑growing technology belts—can redefine global technology leadership, with discussions centered on governance models and cross‑border collaboration. Another session focused on shaping next‑generation cities, exploring how universities can align research, talent development and policy engagement to support sustainable urban transformation amid rapid technological and societal change. These high-level dialogues emphasized the need for strategic alignment between academic research and regional development, reinforcing the Summit’s mission to leverage Asian leadership for global transformation through collaborative institutional design and shared expertise.
Across a series of high‑level sessions, HKUST senior leadership played an active role in shaping discussions on inclusive leadership, trusted AI in higher education, research commercialization, climate resilience, and global research collaboration. The sessions examined how universities can strengthen governance frameworks to ensure the responsible and ethical use of AI, while cultivating innovation ecosystems that translate research outcomes into socio-economic impact.
The dialogue also addressed strategies for nurturing entrepreneurship, climate‑proofing rapidly growing cities through interdisciplinary engineering approaches, and sustaining borderless research collaboration amid rising geopolitical and regulatory pressures. Collectively, these contributions highlighted HKUST’s commitment to advancing responsible innovation, international partnership, and university leadership attuned to Asia’s evolving challenges and global responsibilities.
The three-day event concluded with a closing ceremony, cementing new strategic partnerships and a shared vision for the future of higher education in the region.
Download photos here: https://hkust.edu.hk/news/hkust-and-times-higher-education-co-host-asia-universities-summit-2026
Hashtag: #HKUST
The issuer is solely responsible for the content of this announcement.
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