The "828 New Policy" combined with the official implementation of residential mortgage interest subsidies starting October 1 has led to impressive performances in property markets across multiple regions during the National Day holiday.
According to data from Hubei Province's housing and construction authorities, against the backdrop of intensive policy packages being rolled out and promotional events being held across the province, Hubei's golden autumn home-buying season has delivered solid results. From October 1 to 3, Wuhan's new commercial housing sales increased by more than 10% year-on-year; Shiyan's sales area and sales amount both grew by approximately 13% year-on-year, while Jingzhou, Xiaogan, Suizhou and other cities recorded steady year-on-year transaction growth.
To further lower the threshold for home purchases and stimulate buying intentions, multiple cities in Hubei have introduced policy packages. In Xiaogan's central urban area, on top of existing housing purchase subsidies, the government directly provides a 10,000 yuan subsidy during the housing expo, with participating developers offering an additional discount of 5,000 to 10,000 yuan. Tianmen has made it clear that for anyone who purchases a home and completes online contract filing, the developer will provide an additional housing consumption subsidy equal to 1% of the total contract price, deducted directly at the time of payment.
Jingzhou's online special promotion brings together 27 popular projects in the central urban area, offering multi-tiered discounts starting at 10% off, limited fixed-price units, and direct price reductions. Suizhou is guiding developments to offer personalized promotions such as using return-home train tickets as credit toward home purchase payments and free parking spaces with home purchases, while recent graduates can also enjoy special housing purchase subsidies. Meanwhile, Jingmen's housing expo has set up a policy consultation area, providing one-on-one explanations of nine major housing policies including loan interest subsidies, housing provident fund family mutual assistance, and first-home qualification determination, helping residents clearly calculate their available savings.
Guangdong's property market is equally warm. According to the official WeChat account "Foshan Housing and Construction" on October 4, during the National Day Golden Week, visits, inquiries and subscription volumes at sales offices across Foshan's five districts continued to rise. Driven by the mortgage interest subsidy policy that officially took effect on October 1, a batch of qualifying high-value projects were among the first to benefit. Among them, Poly CCCC Metropolis, as one of the first batch of properties benefiting from the new subsidy policy, offers unit prices as low as 11,000 yuan per square meter combined with price protection commitments, and has recorded more than 15 transactions since the first day of the National Day holiday. Chengfa Denghu Yueyuan sold 15 units in just two days during the holiday, also performing impressively.
Data from the Beike platform shows that in the first two days of the Golden Week, Foshan recorded a total of 251 new home transactions, with 116 in Shunde District and more than 40 each in Chancheng, Nanhai and Sanshui districts. On the first day of the National Day holiday alone, new home registrations exceeded 5,000 and property viewings surpassed 1,600. In terms of transaction structure, rigid demand and upgrade demand became the absolute main force. Data shows that units of 90-120 square meters and 120-140 square meters together accounted for more than 60%, reflecting that under the impetus of favorable policies and the Good Housing Festival, self-occupation and home-swapping demand is being actively released.
Jiangmen and its subordinate counties and cities also saw a synchronized recovery in transactions. According to data from the Jiangmen Housing and Urban-Rural Development Bureau, on October 1, Jiangmen recorded approximately 145 residential subscriptions, with a transaction area of about 16,100 square meters and a transaction value of 144 million yuan. According to "Taishan Release," since the National Day holiday began, as of October 3, major developments in the city had cumulatively sold (subscribed) 119 residential units, with a transaction area of 11,636.98 square meters, sales of approximately 84.33 million yuan, and an average transaction price of 7,247 yuan per square meter. A sales manager at a development in the South New District stated that on the eve of the National Day holiday, relevant departments introduced a series of real estate policies and the residential mortgage interest subsidy policy, and it is expected that sales during this year's National Day holiday will see better growth than in previous years.
Before this year's National Day holiday, the introduction of the "828" commercial housing sales system further alleviated buyers' concerns about delivery. Subsequently, in late September, the nationally unified mortgage interest subsidy policy further reduced buyers' monthly payment pressure. On September 29, the Ministry of Finance, together with the People's Bank of China and the National Financial Regulatory Administration, issued the "Notice on Implementing the Residential Mortgage Interest Subsidy Policy" (Cai Jin [2026] No. 95), specifying that starting from October 1, 2026, the residential mortgage interest subsidy policy would be implemented, with a tentative implementation period of one year. This is also the first time the central government has provided interest subsidies for commercial personal housing loans.
According to the notice, the maximum loan amount eligible for subsidies is 1 million yuan, with fiscal authorities providing an annualized interest subsidy of 1 percentage point. Based on current first-home commercial personal housing loan interest rates, this is equivalent to a discount of one-third of the interest rate, with a subsidy period of up to 5 years. Under the policy, households using newly issued commercial personal housing loans to purchase a first home with a floor area not exceeding 120 square meters and a price not exceeding 1.5 million yuan can enjoy a fiscal interest subsidy of 1 percentage point annualized for a maximum period of 5 years, with a maximum subsidized loan amount of 1 million yuan per household. Both new and second-hand homes are included in the support scope.
Taking a personal housing loan of 1 million yuan with a disbursement rate of 3.0% as an example, if it meets the loan interest subsidy conditions, the borrower will pay interest at an actual annualized rate of 2.0% during the subsidy period. During the policy implementation window, major banks have also accelerated efforts to deliver the benefits directly to the market. According to the WeChat public account of ICBC Guangdong Branch, ICBC Guangdong Branch is fully committed to ensuring the policy takes effect, proactively connecting with real estate developers, brokerage institutions and real estate registration departments across the province to conduct pre-qualification reviews for interest subsidies and policy outreach, and opening green approval channels to ensure policy benefits quickly reach rigid-demand groups.
Data shows that in the first three days of the National Day holiday, ICBC Guangdong Branch received more than 100 mortgage applications meeting subsidy conditions, with loan amounts exceeding 100 million yuan, covering both new commercial housing and second-hand housing. The WeChat public account of Bank of China Hubei Branch also showed that during the holiday, department heads, supervisors and key business staff visited development project sites across the province. They walked into sales halls, sat down face-to-face with marketing teams to exchange views, assess market changes in real time, and provide detailed explanations of new mortgage policies and home purchase subsidy benefits, helping thousands of families achieve their homeownership dreams.
Yan Yuejin, deputy director of the Shanghai E-House Real Estate Research Institute, pointed out that the "828" property market policy underpins the market, and combined with the national mortgage interest subsidy policy that precisely reduces burdens, forms a "policy combination punch" that effectively repairs homebuyer expectations and activates pent-up self-occupation demand. With bank services continuing to be implemented and local supporting policies continuing to be strengthened, the property market in the fourth quarter is expected to continue its steady recovery momentum.