China News Service, Beijing, April 7 (Reporter Pang Wuji) During the Qingming Festival holiday this year, the real estate market sentiment in some Chinese cities recovered slightly, and the second-hand housing market performed better than new housing.
A report released by the Zhuge Data Research Center on the 7th showed that during this year’s Tomb Sweeping Day holiday (April 4-6), 596 second-hand residential units were sold in six key cities in China, including Beijing, which was an increase compared with the Tomb Sweeping Day holiday in 2022 and the Tomb Sweeping Day holiday in 2023. 87.42%, 46.08%. Among them, the sales volume of second-hand housing in Qingdao, Shenzhen, Wuxi, Dongguan and Foshan has been relatively strong.
The new home market is clearly divided into hot and cold markets, and its overall activity is less than that of the second-hand home market. According to monitoring by the China Index Research Institute, during the Tomb Sweeping Day holiday in 2024, the average daily transaction area of new homes in 20 representative cities in China dropped by 31% compared with the Tomb Sweeping Day holiday in 2022. However, the sales area of new homes in Shanghai has increased significantly compared with the 2022 holiday.
The Zhuge Data Research Center also observed that the transaction performance of new homes during the Qingming Festival this year in Shanghai, Foshan and Wenzhou was better than that in 2022. Among them, the transaction volume in Shanghai doubled, and the total transaction volume increased from 144 units in the same period in 2022 to 290 units. Recently, driven by a moderately relaxed home-buying environment and high-quality improved new projects, Shanghai's new home transactions have rebounded significantly.
Chen Wenjing, market research director of the China Index Research Institute, said that market sentiment in some cities recovered slightly during the Qingming Festival holiday, but the hot and cold differentiation was obvious. For example, the new housing market in cities such as Beijing, Qingdao, Zhengzhou and other cities has seen an increase in project visits driven by policies; while the wait-and-see sentiment in markets in Wuhan, Nanjing and other places continues.
She believes that as the policies on both ends of real estate supply and demand continue to be optimized and adjusted, homebuyers' willingness to buy property may usher in a moderate recovery, the implementation of "white list" project financing will be effective, and the advancement of project construction will also help boost market confidence, thereby driving new home sales. Marginal improvement is expected, and new home sales in key cities may maintain a certain scale in April. (over)