Under the guidance of the policy of “houses are for living in and not for speculative investment”，under the control of long-term mechanisms such as “stabilizing land prices，stabilizing housing prices，stabilizing expectations” and “restricting sales，restricting purchases，restricting loans，and implementing policies based on the city”，the real estate market will be increasingly rational and stable in 2019. At the same time，frequent policies regarding “urban renewal” and “combined rent-purchase” have brought a vast new world for real estate market development. This report described the situation of the real estate market in 2019，point out the problems in the development process of the real estate market，and further discussed the operation and development trend of the urban investment real estate business.