Guangzhou's New Home Sales Surge for Two Straight Months, Showing Signs of Stabilization and Recovery

[Guangzhou's New Home Sales Grow for Two Consecutive Months]

Following a significant YoY increase in the online signed area of new residential properties in January, Guangzhou's real estate market maintained a positive trend of stabilization and recovery in February. According to CRIC statistics, in February, Guangzhou recorded sales of 362,700 m² and 3,420 units of new residential properties, with YoY growth of 46% and 59%, respectively. After the Chinese New Year holiday, market activity gradually picked up. "Our project is performing quite well, with 500 visits per week on average and weekly sales of around 100 million yuan, roughly equivalent to the levels of May and October last year," said a regional marketing manager of a Guangzhou-based real estate company to reporters on March 3. Another real estate company's Guangzhou-Foshan regional manager also revealed that sales over the past two months have seen YoY growth, stating, "It can be considered a stabilization and recovery.