China News Agency, Beijing, January 28 (Reporter Pang Wuji) The Spring Festival holiday is usually not the peak season for house purchases. However, this year’s Spring Festival holiday in many parts of China’s property market has picked up slightly.
58 Statistics released by Anjuke Research Institute on the 28th show that during the Spring Festival in 2023, the search for new houses in major cities in China will increase by 3.7% year-on-year.
Among them, the enthusiasm for finding new houses in first-tier cities dropped slightly by 3% compared with last year's Spring Festival, new first-tier cities were flat year-on-year, and second-tier cities rose slightly, with an increase of 6.3%.
Among them, Dongguan and Foshan saw the highest year-on-year increases in housing search enthusiasm, with an increase of more than 10%, and cities such as Huizhou, Harbin, Taiyuan, Zhongshan, Zhuhai, Dalian, and Wenzhou experienced relatively high increases in housing search enthusiasm.
Most of these cities with higher growth rates are cities with looser housing purchase policies and lower mortgage interest rates.
Zhang Bo, director of 58 Anjuke Research Institute, analyzed that under the current favorable policy environment, house purchases are expected to recover, and the real estate market shows signs of recovery. Among them, due to the liberalization of epidemic control in first-tier cities, the number of people traveling and visiting relatives has increased significantly. As a result, the enthusiasm for finding houses decreased slightly during the Spring Festival; housing purchase policies in second-tier cities continued to be relaxed, and people who returned to their hometowns were more inclined to buy houses in the capital cities of the province or the "strong second-tier" cities that have emerged in recent years.
The second-hand housing market also showed warmth.
According to the statistics of the Shell Research Institute, during the Spring Festival this year, the number of second-hand housing belts in 50 key cities in China increased by 28% compared with that during the Spring Festival in 2022.
The second-hand housing belt viewing activity in Chengdu and Chongqing increased by 1.5 times and 1 times respectively compared with last year’s Spring Festival holiday.
Markets in key cities in the Pearl River Delta are also starting to show signs of "start-up". During the Spring Festival in Huizhou, Dongguan and Foshan, the number of viewers doubled compared with the same period last year, and the growth rate in Shenzhen also reached 86%.
In terms of transaction volume, data from the Shell Research Institute shows that during the Spring Festival holiday this year, the transaction volume of second-hand housing in 50 cities increased by 57% compared with the same period last year.
The transaction level in the first 27 days of January was basically close to the whole month of December last year, and the market in key cities of Beijing, Tianjin and Hebei continued the recovery trend in December last year.
Statistics from 58 Anjuke Research Institute also show that during the Spring Festival holiday, the average daily demand for second-hand housing in 70 cities in China has increased significantly compared with January.
During the same period, 56 of the 70 cities saw an increase in the average daily demand for second-hand housing, while only 9 second-tier cities and 5 third-tier cities experienced a decline.
From the perspective of leading indicators, the Shell Research Institute predicts that the property market is expected to maintain its recovery momentum in the first quarter, and that key cities in the Pearl River Delta and the Beijing-Tianjin-Hebei region will perform better than other urban agglomerations.