Positive Signs in 2024: Initial Stabilization of Real Estate Market with Robust Policy Measures

[Positive Signals Emerging: Initial Success in Stabilizing the Real Estate Market in 2024] Currently, only some first-tier cities, certain cities, and regions in Hainan Province maintain limited purchase restrictions. Regarding housing loans, whether it is the down payment ratio for first or second homes or the interest rates on new and existing commercial housing loans, all are at historically low levels. Moreover, the majority of cities have lifted the "dual restrictions" on resale and land price limits, with policy measures being more robust than in the past.

According to data from the China Index Academy, in the first 11 months of 2024, the nationwide commercial housing sales area reached 860 million m² (YoY decrease of 14.3%), and the sales value amounted to 8.5 trillion yuan (YoY decrease of 19.2%). Although there was still a decline compared to last year, the quarterly trend shows a significant recovery in the real estate market since the end of Q3.