China's real estate sector is finally seeing rays of hope after months of turbulence, with new policies sparking a surge in transactions and renewed developer confidence! According to recent data, key cities like Guangzhou and Shenzhen reported 100+ rounds of competitive land bidding in September, while new housing sales during the National Day holiday jumped 77% month-on-month.
Government measures introduced in May and October – including relaxed purchase restrictions and streamlined property classifications – are giving the market a much-needed boost. First-tier cities like Beijing and Shanghai also saw second-hand home transactions double year-on-year in mid-October. Analysts say these moves are helping developers clear stock and stabilize prices.
While prices in major cities remain below peak levels (down 29-39%), experts call this a 'necessary correction' after years of overheated growth. The focus now shifts to urban village renovations and high-quality housing projects, which could reshape China's property landscape for Gen Z buyers.
With developers snapping up land again and transactions stabilizing, 2024 might just be the year this crucial sector finds its footing.
NewspaperAmigo – Your Global News Buddy 
According to recent data, key cities like Guangzhou and Shenzhen reported 100+ rounds of competitive land bidding in September, while new housing sales during the National Day holiday jumped 77% month-on-month. 
