ECONOMY

China’s Holiday House Sales Surge Met by Cautious Optimism

Published: Oct. 11, 2024 4:00 a.m. GMT+8

00:00

00:00/00:00

Listen to this article 1x

A residential project in Shenzhen.

Industry insiders are cautiously optimistic about the recent surge in China’s property market, driven by a series of stimulus policies announced in the run-up to the National Day holiday, but the big question is will it last?

The policies aimed at stabilizing the sector resulted in a spike in property sales during the holiday week, with some cities seeing transaction volumes reach their highest levels in months.

You've accessed an article available only to subscribers

Subscribe today for just $.99.

VIEW OPTIONS

Unlock exclusive discounts with a Caixin group subscription — ideal for teams and organizations.

Subscribe to both Caixin Global and The Wall Street Journal — for the price of one.

Share this article

Open WeChat and scan the QR code

DIGEST HUB

Digest Hub

Back

Explore the story in 30 seconds

China's property market saw a surge in sales due to stimulus policies before National Day, with Shenzhen lifting resale restrictions, leading to a 664% increase in new housing sales year-on-year.
Major cities like Beijing, Shanghai, and Guangzhou also experienced significant activity, while some second- and third-tier cities reported improvements in housing sales during the holiday week.
Industry insiders express caution about the sustainability of this demand surge, citing concerns over economic uncertainties and the reliance on existing buyers fueling the current market.

AI generated, for reference only