Interest Subsidies, Completed Homes, and Increased Housing Fund Support: Property Markets in Multiple Cities Show Greater Activity During National Day Holiday

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Recent developments have seen a series of new property market policies rolled out as a coordinated package: on August 28, the Ministry of Housing and Urban-Rural Development and other departments issued a document to promote the sale of completed commercial housing; on September 29, the Ministry of Finance and other departments took action again, clarifying that starting from October 1, eligible first-home purchase loans for residents will receive a fiscal interest subsidy of 1 percentage point on an annualized basis.

During this National Day holiday, property markets in multiple cities performed notably well. New home and second-hand home markets in cities such as Suzhou, Zhengzhou, and Wuhan also recovered simultaneously, with visitor numbers and transaction volumes at many projects increasing year-on-year and month-on-month. First-time buyers and families upgrading their homes became the main forces driving purchases.

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