China Index Research: The total transaction value of the top 30 commercial residential sales projects in key cities in the first three quarters of 2026 was about 189.1 billion yuan

The Zhitong Finance App learned that the China Index Research Institute said that in the first three quarters of 2026, the real estate market continued to bottom out, and overall sales of new homes were still low, but the new housing market in first-tier cities remained resilient, and demand for improvement was still the main support. Shanghai accounted for more than 25% of the total number of new housing units with a total price of 10 million yuan or more, and Beijing over 15%. According to data from the China Index, the total turnover of the top 30 projects in key cities in the first three quarters was about 189.1 billion yuan. Of these, 17 were high-end projects with an average total price of 10 million yuan or more in first-tier cities. Qiqi Binjiang, Shenzhen Bay, and CITIC Chengkai Xinyue Bay had a turnover of more than 10 billion yuan.

Note: The project sales data is based on the online signature of commercial housing (excluding affordable housing and housing). Some projects come from data reported by enterprises.

Data source: Middle Index Data CREIS

High-end projects in first-tier and core second-tier cities are still ideal homes for high-net-worth individuals. Among the top 30 sales projects in the first three quarters of 2026, a total of 23 were located in first-tier cities, with a total sales amount of 158.1 billion yuan, accounting for 83.6%. Among second-tier cities, a total of 4 projects in Hangzhou ranked in the TOP30 in sales, 1 in Chengdu, Sanya, and Xiamen.

In terms of the average total price of packages, 21 of the TOP30 projects have an average total transaction price of more than 10 million yuan. Among them, the total price of Shilin Runyuan, CITIC Chengkai Xinyue Bay, CIFA Qihu Yunzhuang, and Poly Yue Xiwan each exceeded 50 million yuan.

In terms of average package area, 20 of the TOP30 projects have an average transaction area of over 140 square meters. Among them, 15 projects including C&D Qihu Yunzhuang, Baoli Yuexiwan, Shilin Runyuan, and CITIC Chengkai Xinyue Bay have an average project area of over 200 square meters.

Shanghai: The number of projects and transaction amounts are the highest of any city. Most of them are high-end projects on both sides of the Huangpu River and the core area of the city

A total of 10 projects in Shanghai ranked in the top 30 in sales, with a total sales amount of 70.5 billion yuan from January to September 2026. Among them, Qiqi Binjiang had the highest sales amount, at 19.4 billion yuan.

The nine projects are high-end projects with an average total price of more than 14 million yuan. They are mainly divided into two categories: the first is a large river-view flat floor along the Huangpu River, such as Qiqi Riverside, Lujiazui Taikoo Yuanyuan Residence, etc.; the second is a luxury residential project in the core area of the city with mature facilities such as Xuhui Riverside, North Bund, and Old Town, such as Anlan Shanghai, China Construction Yipin Bund Yuanjing, and C&D Haichen, Greentown and Chaoming Bund.

It is worth mentioning that Times City is the only one of the 10 projects that has just been revised. The project is located in the Nanxiang section of Jiading. It is a large-scale pure residential community with a scarce outer ring. The total price is 6 million, and the apartment type covers various needs such as immediate needs, initial reforms, and improvements.

In terms of architectural design, high-end projects generally enhance project recognition through façade design, and accurately arrange buildings to realize the value of landscape resources. For example, Qiqi Riverside achieved full coverage of the triple landscape of “looking at the river from the south, viewing the garden from the east, and viewing the city from the north” through customized building rotation design and 270° ring curtain glass.

In terms of apartment type and interior space, high-end projects usually use LDK integration, 270° panoramic cabins, master bedroom suites, and separate housekeeping rooms to enhance viewing and living comfort, and achieve separation of motion and quiet. For example, the 286-square-meter apartment on the riverside of the Qiqi River can overlook the community's 3,500-square-meter sunken water courtyard and 13-meter-high canyon oasis. The high area can overlook the city's landmarks, LDKB integrated living room, and the 58㎡ master bedroom suite is equipped with a separate bathroom, walk-in closet and panoramic bay window. The second bedroom is all en-suite with separate housekeeping space, taking into account privacy and comfort.

Shenzhen: Baozhong-Shenzhen Bay Dinghao and emerging regional reform projects coexist

A total of 5 projects in Shenzhen ranked in the top 30 in sales, with a total sales amount of 48.3 billion yuan from January to September 2026.

Shenzhen Bay Xixi is located in the core area of Shenzhen Bay. At the time of land acquisition, it was the only residential land added in the area in the past ten years. Since the opening of the project, the cumulative transaction amount (online registration) has exceeded 27 billion yuan, including 16 billion yuan from January to September 2026. The sales volume of CITIC Chengkai Xinyue Bay from January to September 2026 exceeded 13 billion yuan, and the Shenzhen Tide Tour was 8.75 billion yuan.

These three projects are located in the Baozhong-Shenzhen Bay area, with an average total price of over 30 million yuan. They are luxury housing projects in the core area of the city. Relying on the industrial agglomeration of headquarters, urban landmarks and scarce seascape resources, they attract high-net-worth customers.

Hongrongyuan Jiayujiuxi and Peng Chen Yunzhu are located in emerging sectors such as Baoan Shajing and Longhua Minzhi sectors respectively. The total price of the project is at the level of 4 to 6 million. Relying on subway resources, urban renewal and industrial planning dividends, the package is in a continuous implementation cycle to handle the industrial population overflow in central urban areas.

Beijing: The distribution of projects has blossomed a lot, but most of them are located outside the 5th Ring Road, and each sector has its own characteristics

A total of 6 projects in Beijing ranked in the top 30 for sales, with a total sales amount of 28.3 billion yuan. There are three main categories:

The first is a high-end project in a mature area where residential land is scarce. Beijing Runyuan is located in the central villa area of Shunyi, with a total price of 20 million. China Resources Land “Garden” is a four-generation villa. It is a low-density villa area in the area that has been scarce in recent years. Zhonghai Jinghua is located in Xicheng Second Ring Road in the 9th order, with a total price of 30 million. It is a core mansion in the inner city. Zijingchen Garden is located in the Chaoqing section of the East Fourth Ring Road, with a total price of 15 million. It is a high-end project in the mature area of the east.

The second is an improvement project for emerging areas of the city. China Construction Yunhe Jiuyuan is located in Beijing's urban sub-center, along the Grand Canal. Relying on the sub-center's planning dividends, it has already entered the supporting implementation stage. It is a four-generation waterfront house with a total price of 9 million grade.

The third is a suburban renewal project. Guoxianfu Park and Longyue Haixu are all located in Changping District. The total price is 5 million, and the main apartment types are between 80 and 110 square meters. They mainly handle the industrial population overflow in northern Haidian and Chaoyang.

This type of reform project usually focuses on space efficiency in apartment design, relies on optimization of floor planning rules to improve housing rates, design variable space, and ensure perfect functionality when the total price is controllable. For example, a 108-square-meter four-bedroom apartment with full brightness, north-south transparency, 10.3 meters south-facing width. The master bedroom suite is equipped with a 270° corner bay window, the living room balcony introduces a landscape flower pool, and the 3+X flexible layout can be switched to a study room, children's room, or interest room as needed, taking into account functionality and comfort.

Hangzhou: There are both resource-based projects for the main city landscape and science and technology innovation sector improvement projects

A total of 4 projects in Hangzhou ranked in the top 30 in terms of sales, with a total sales amount of 18.3 billion yuan.

Zhonghai Wanchao Jiuxu is located in the Binjiang district capital section. It is a 30 million-grade river-view residence on the first line of the Qiantang River. Jianfa Qihu Yunzhuang is located in the Jiangcun section of West Lake, next to Xixi Wetland. It is a 60 million-grade ecological townhouse. Both projects are luxury housing projects enjoying the mature resources and scarce landscape of the main city.

Aoying Century Xuan is located in Qianjiang Century City, Xiaoshan. The total price is 17 million. It is also a luxury residence with a view of the Qiantang River. Relying on the industrial resources of the Qiantang Bay headquarters base, the area's population is very attractive. Poly Tianyi is positioned at the center of science and technology innovation in the Future Science and Technology City, undertaking the first purchase and improving household needs at a total price of 4 million.

Guangzhou, Chengdu, Xiamen, and Sanya: A small number of projects have entered the top 30 sales, all of which are luxury homes with landscape resources in the core area of the city or in mature sectors

Guangzhou Baoli Yue Xiwan has an average total price of about 60 million yuan. It is located in the Tianhe Financial City section of Guangzhou. Industrial and commercial facilities are highly concentrated. The project uses a raised board design, and the overall lift is about 11 meters to achieve private lighting in the low area and views of the Pearl River to the south, providing 203-610 square meter apartments.

Sanya China Resources Land Haitang Yuefu has an average total price of about 7.5 million yuan. Relying on Haitang Bay's “National Seaside” cultural tourism resources, tropical coastal ecology, and vacation commercial facilities, it can balance the vacation residence and asset allocation needs of high-net-worth people.

Summarizing the top sales factors of the top 30 projects in the first three quarters, we can find commonalities: most projects occupy core locations in first-tier and second-tier cities, and are rich in industrial, supporting or landscape resources. In terms of products, the cost is invested in residential details that buyers can perceive. High-end projects compete for resource fulfillment and space comfort, and newly revised and improved projects compete for space efficiency.

Looking at the trend, under the existing home sales system, the industry logic has changed: buyers no longer pay for drawings and expectations, implement product details, and accurately translate costs into perceptible value to win market competition.