Real Estate Market's 'Golden September' Shows Slow Sales Despite High Interest, Policy Stimulus Urged

[Watching More but Buying Less: The Real Estate Market’s "Golden September" Still Needs More Policy Stimulus]: The just-concluded Mid-Autumn Festival holiday can be seen as the first crucial juncture to test the real estate market’s "Golden September."

Nationwide, data released by the China Index Academy indicates that during this year's Mid-Autumn Festival holiday, the average daily sales area of new homes in 25 representative cities declined by approximately 29% compared to the 2023 holiday period. In the secondary housing market, cities like Beijing, Hangzhou, and Foshan remain active amidst a "trade-off between price and volume" scenario. Homebuyers are simultaneously viewing properties and waiting for "policies," while also carefully "comparing prices" between new and second-hand homes.

Many industry insiders believe that the current time represents a crucial window for the introduction of real estate market regulation policies. Judging from current trends, the real estate market policies are expected to undergo optimization by the end of September. With policy support, market transactions in the fourth quarter are anticipated to rebound.