Four major first-tier cities relaxed housing purchase restrictions before the holidays to send a major policy signal. Industry experts believe that as the "wind vane" of China's real estate market, first- tier cities' "tacit agreement" on the demand-side policy will be closely related to the supply-side risk prevention.
The construction of "three major projects" (affordable housing construction, "both leisure and emergency" public infrastructure construction, urban village renovation) create a resonance effect, which is expected to drive stability in second-tier and even national commercial housing markets.