2020 was an extraordinary year for the real estate market in Shenzhen. The market experienced great volatility；housing prices in some hot spots rose too fast；and real estate was put into stricter control. This report analyzes the operation of Shenzhen’s real estate market in 2020，summarizes the real estate market regulation policies，and puts forward suggestions for improving the real estate market regulation policies. The report believes that in 2021，Shenzhen must carry out the spirit of the Fifth Plenary Session of the 19^th Central Committee of the Communist Party of China and the Central Economic Work Conference，adhere to the principle that apartments are for people to live in，not for speculation，and continue the long-term real estate mechanism，and improve regulation policies，increase the supply of residential land，continue to promote the reform of the housing system，regulate and plan the development of the long-term rental housing market，and solve the prominent problems in large cities. It is expected that in 2021，with the continuous improvement of real estate regulation policies and the further implementation of long-term mechanisms，the mode of stable operation and healthy development of the Shenzhen real estate market will be consolidated.