"High-Quality Homes" Flood the Market, New and Existing Home Markets in Multiple Regions Continue to Warm Up

According to CCTV News, reporters learned that during this year's Labour Day holiday, under the continuous influence of a series of policies, the real estate market in many regions across the country continued the recovery trend from Q1. In particular, the real estate markets in first- and second-tier cities maintained a positive momentum.

The real estate markets in cities like Beijing, Shanghai, Guangzhou, and Shenzhen continued their positive momentum during the Labour Day holiday.

During the Labour Day holiday, reporters visited a new housing sales office in Beijing's West Third Ring Road. This project, which launched at the end of April, features 112 m² three-bedroom and 122 m² four-bedroom units, primarily targeting buyers with upgrading needs. Sales staff mentioned that many citizens took advantage of the holiday to visit the site, and some clients have already entered the signing process.

Wang Haifeng, Marketing Manager of a Beijing Real Estate Project: During the Labour Day holiday, the daily foot traffic was around 400 to 500 people, with approximately 10 transactions per day.

Sales staff revealed that the first phase of this project offered 249 units, and 60% have been sold since its launch. Not only this project, but multiple commercial housing projects in Beijing also saw a large influx of visitors during the Labour Day holiday.

In Shanghai, some projects launched additional units during the holiday due to strong sales performance. In Huangpu District, Guangzhou, from May 1 to 2, 47 ongoing and on-sale projects across the district recorded over 2,000 visits, with subscription volumes up 37% YoY.

Similarly, in Shenzhen, the local "Labour Day Good Housing Festival" attracted 40,000 visitors on its opening day. At a project site in Nanshan District, reporters observed many buyers waiting to sign contracts. On the first day of its launch, the project achieved a 90% sales rate.

Second-Hand Housing Transactions Remain Active in First- and Second-Tier Cities During Labour Day Holiday

Not only new housing but the second-hand housing market in first- and second-tier cities also saw active trading volumes during the Labour Day holiday.

In Wuhan, Hubei Province, staff at second-hand housing agencies were extremely busy over the past few days. In just the first three days of the holiday, a major real estate agency recorded over 8,000 property viewings, a 25% increase compared to the three days before the holiday.

Wang Qi, Agent at a Wuhan Real Estate Agency: Starting from April 30, our viewing and inquiry volumes have doubled. On average, each agent in our office conducts 2 to 3 viewings per day.

Experts noted that since April, structural improvements in regional markets have become increasingly evident. In April, Shenzhen saw more transactions of large-sized and mid-to-high-priced second-hand homes. Shanghai recorded 20,700 second-hand housing transactions in April, up 32% YoY, marking the highest figure for the same month since 2022. Additionally, during the Labour Day holiday, combined with a series of real estate policy stimulus packages, there remains significant potential demand for home purchases among residents, enabling the real estate markets in core first- and second-tier cities to maintain a positive trend.

Li Yujia, Chief Researcher at Guangdong Housing Policy Research Center: The trading volumes of new and second-hand homes in key cities have shown YoY growth for two consecutive quarters. Although the growth rate in Q1 this year was lower than that in Q4 last year, the trend of stabilizing and recovering is still evident.

Labour Day Holiday Sees Concentrated Launch of "Good Housing" Projects in Many Regions

During interviews, reporters found that this year's Labour Day holiday witnessed the launch of numerous real estate projects nationwide emphasizing "good housing" features. These projects not only provided buyers with more options but also focused more on quality.

With the implementation of the national standard "Residential Building Code," meeting the "good housing" standard has become a recent selling point for some projects, attracting many potential buyers.

Wang Haifeng: Currently, all residential buildings must have a floor height of at least 3 meters. Standard layouts are designed with balconies, offering higher space utilization rates. Additionally, integrated central air conditioning, fresh air systems, and underfloor heating are now included.

Besides improved floor heights, the practicality, comfort, and storage functionality of interior spaces have also become highlights for many projects. At a project in Jiangning District, Nanjing, reporters observed that the building facades were staggered, with each floor featuring a high-ceiling terrace.

Zhang Hui, Secretary General of Nanjing Real Estate Association: The new generation of high-quality, upgrade-oriented residential properties has been highly recognized and sought after by the market. Nearly 80% of these projects have achieved strong sales performance.

In Hangzhou, a project that opened for the first time during the Labour Day holiday also focused on enhancing "good housing" quality. Sales staff reported that the first batch of 138 units attracted over 1,000 interested clients within two days.

Many Regions Nationwide Adjust and Optimize Policies to Stabilize the Real Estate Market

During interviews, reporters learned that as the market gradually recovers, some cities are continuously adjusting and optimizing relevant policies based on market changes, injecting new momentum into the stable and healthy development of the real estate market.

Recently, Zhongshan City issued a notice stating that from May 1, 2025, to June 30, 2025, buyers of newly built commercial housing in Zhongshan will receive an electronic consumption voucher subsidy equivalent to 0.5% of the purchase price after paying deed tax.

In Wuhan, six departments, including the Housing and Urban Renewal Bureau, jointly issued new real estate policies. These policies include raising the second-home provident fund loan limit to 1.2 million yuan, extending multi-child subsidies from new districts to the entire city, and providing subsidies of 60,000 yuan and 120,000 yuan for second-child and third-child families purchasing new homes, respectively. Additionally, deed tax will be fully subsidized for new home purchases. On the first day of the new policy's implementation, many buyers visited sales offices for consultations.

Li Junru, Property Manager at a Wuhan Sales Office: On one hand, the increased second-home provident fund limit, deed tax subsidies, and trade-in policies have reduced the cost of upgrading homes. On the other hand, subsidies of up to 120,000 yuan for multi-child families have directly alleviated the financial burden of home purchases.

Similar to Wuhan's policies, several cities have optimized their provident fund policies. Hefei has removed the distinction between ordinary and non-ordinary residential loans, supported the use of provident funds for purchasing affordable housing, and raised loan limits. Suzhou has increased loan limits for multi-child families and buyers of upgrade-oriented housing. Qingdao introduced 12 new policies to stimulate the real estate market, including home purchase subsidies and low monthly payment loan products. It also announced a "trade-in" housing plan, aiming to acquire 1,200 second-hand homes for use as affordable rental housing, encouraging residents to sell old homes and buy new ones.

Experts emphasized that since real estate market conditions vary across cities, policies should be tailored to local circumstances, focusing on increasing supply.

Li Yujia: There are still many policies to implement, such as further lowering interest rates for second-home loans and promoting mortgage transfers during the trade-in process for second-hand homes. There is still much work to be done in these areas.