In 2021，the real estate market in Shenzhen entered into the adjustment cycle. The investment on real estate development and the market sales have differently declined. Liquidity risks have come out in partial enterprises on the real estate. This report analyzes the operation of the real estate market in Shenzhen in 2021，the real estate market regulation and control policies and the existing main problems. The Report puts forward the policy suggestions to promote the virtuous circle and robust development of the real estate market in the future，in accordance with the policy orientation of the central government. The Report believes that in 2022，Shenzhen will insist the stance that houses are used to live，not to speculate，unswervingly implementing the long-term real estate mechanism. Shenzhen should continue to maintain the continuity and stability of the regulation and control policies in Shenzhen’s real estate policy，and ensure the stable and healthy development of the real estate market. It is expected that under the background of improving the real estate financing environment and favorable policies，market confidence is expected to gradually increase in 2022，and the pattern of stable operation and healthy development of the Shenzhen real estate market will be further consolidated.