Policy Benefits Unleashed as National Day Holiday Boosts Housing Market Activity

Deep News
Oct 07

On September 30, Guangzhou released implementation guidelines for the Notice on Improving the Commodity Housing Sales System. During the National Day holiday following the new policy's implementation, reporters visited multiple new property projects in central Guangzhou and learned that residents' willingness to view homes has noticeably increased, with projects benefiting from favorable policies and strong product appeal seeing higher visit numbers and transaction volumes.

At a new property project in Haizhu District, Guangzhou, the sales office remained fully occupied throughout the National Day period. The person in charge stated that clients had already arrived and waited before the sales office opened, and operating hours were extended to continue serving clients at night. Cumulative visits that day exceeded 200 groups. Reporters observed on-site that residents streamed in continuously to inquire and learn about the properties, and the negotiation seats were no longer sufficient. Marketing manager Huang Zekai said that total visits during the first five days of the National Day holiday surpassed 800 groups, with average daily visits more than doubling compared to regular weekends, and overall transaction performance also improved significantly.

Zhengzhou in Henan Province simultaneously implemented local housing provident fund loan policies, introducing two loan optimization measures: lowering the down payment ratio for existing housing to 20% and supporting an intergenerational family mutual aid loan mechanism. At multiple sales offices' signing areas in Zhengzhou, many clients finalized their home purchase intentions on-site. With housing market policy benefits overlapping with the National Day holiday, multiple property projects in Zhengzhou saw obvious increases in visits and transaction volumes, and buyers' decision-making cycles shortened markedly. Zhengzhou resident Wang Yue told reporters: "It's under 90 square meters, with a total price of 1.2 million to 1.3 million yuan. With a loan of over 800,000 yuan, we can save six to seven hundred yuan per month on average."

At a property project in the East Lake High-tech Development Zone of Wuhan, Hubei Province, homebuyers flocked to view homes and inquire about available units. While the new home market is heating up, Wuhan's second-hand housing market is also experiencing renewed warmth. Real estate agents reported that viewing activity for two-bedroom and three-bedroom starter homes priced under 1.5 million yuan has risen significantly. According to statistics, during the first four days of the National Day holiday, second-hand home viewings in Wuhan exceeded 13,000 person-times, with 550 second-hand homes sold, a year-on-year increase of 10%. The manager of a real estate brokerage store located in the Wuchang Riverside Waterfront New City in Wuhan, Hubei Province, introduced: "In the first few days of the National Day holiday, the daily viewing volume was about 12 groups, and then from the 3rd to the 5th, it could reach about 18 to 20 groups per day."

Beyond demand-side subsidies to reduce home purchase costs, Wuhan has also further strengthened housing purchase guarantees at the institutional level. On October 1, the Wuhan Housing and Urban Renewal Bureau and other multiple departments issued implementation guidelines stating that starting from August 28 this year, commodity housing projects built on newly transferred land will prioritize the promotion of completed housing sales.

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