Property Market Booms with Significant YoY Growth, Policy Support Expected to Intensify in Q2

Property Market Sees Significant YoY Growth in Trading Volume, Policy Support Likely to Accelerate in Q2

Supported by a series of policies, the real estate markets in first-tier and key second-tier cities have shown clear signs of stabilization. Data indicates that in March, both new and second-hand home trading volumes in first-tier cities surged YoY, with Beijing's new home transaction area up 46% YoY and Shenzhen's second-hand home transaction count up 58% YoY. Among second-tier cities, Ningbo, Hefei, Suzhou, Hangzhou, and Chengdu recorded notable YoY increases in trading volume, with Ningbo's new home transactions up 79% YoY and Hangzhou's second-hand home transaction count up 68% YoY. Industry insiders believe that, amid external demand pressures, policies to expand domestic demand are expected to intensify further. As real estate remains a critical component of domestic demand, related support policies are likely to accelerate implementation in Q2.