Understanding the real estate market within the framework of cycle analysis is crucial for economic assessments and projections in China due to its significance in the economy. This note examines the current Chinese real estate cycle and future trends and compares with selective ASEAN+3 and major economies.  The cycle analysis reveals that Chinese real estate market is currently in a recession phase and predicts a recovery of real estate prices next year. Additionally, the likelihood of China’s real estate market entering a prolonged downturn appears low.  However, Chinese authorities must remain vigilant as the real estate market is still in a recessionary phase.