China’s September home sales edge up 1.4% as second-hand market surges 13.1%
In the first 20 days of September 2024, new home sales in 30 key Chinese cities rose 1.4% year-on-year, while second-hand home sales in 20 key cities surged 13.1%. First-tier cities led new home growth with over 10% increases, and Beijing and Shanghai recorded seven consecutive months of year-on-year growth in second-hand transactions. Analysts attribute the trends to policy easing and the traditional peak season, though the overall market remains in a bottoming phase with structural divergence.
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China's September Housing Market Shows Recovery Signs with Double-Digit Growth in Second-Hand Sales
According to a report by 21st Century Business Herald citing data from the China Index Academy, China's property market is showing early signs of a seasonal recovery in September. From September 1 to 20, new home sales in 30 key cities reached 4.88 million square meters, a slight 1.4% year-on-year increase, with first-tier cities seeing over 10% growth. The second-hand housing market performed stronger, with 20 key cities recording 82,000 transactions, up 13.1% year-on-year. Beijing and Shanghai have seen seven consecutive months of year-on-year growth in second-hand home sales. New home supply has surged, with Beijing issuing 13预售许可证 (pre-sale permits) in September, a monthly record, and Guangzhou issuing 38. Analysts from合硕机构 (Heshuo Institution) and China Index Academy attribute the trends to policy easing, including lower purchase restrictions and higher housing provident fund loan limits, as well as the '828 New Policy' promoting spot sales. However, the overall market remains in a bottoming phase, with most cities still destocking. Cao Jingjing, general manager of the China Index Academy's index research department, forecasts structural recovery during the 'Golden September and Silver October' period, with second-hand homes likely to remain more active due to better price adjustments and more choices.
Read sourceChina's Key City Second-Home Sales Continue Growth in September Golden Season
According to a report from Securities Times, China's second-hand housing market in key cities showed continued growth during the first 20 days of September, the traditional peak sales season. Data from the China Index Academy shows that second-hand home sales in 20 key cities rose 13.1% year-on-year by transaction volume, with Beijing and Shanghai recording seven consecutive months of growth. In Shenzhen, second-hand transactions reached 4,084 units in the first 20 days of September, up 16% from August. Overall, from January to August, national second-hand home floor space transacted rose 10.6% year-on-year, accounting for 52% of total housing transactions. In 30 key cities, second-hand sales made up 68% of transactions. Analysts, including Cao Jingjing from the China Index Academy, attribute the trend to more flexible pricing and a wider selection of properties in the second-hand market, which continues to attract replacement and rigid demand. Experts predict the market will maintain structural recovery, with policies like 'trade-in' schemes potentially further smoothing the replacement chain. Some industry insiders note that market resilience has strengthened compared to last year, and second-hand prices are expected to gradually return to reasonable levels based on price-to-income and rental yield ratios.
Read sourceChina first-tier city new home sales rise over 10% year-on-year in September
According to a September 24 report by Gelonhui citing Securities Daily, China's real estate market is showing signs of recovery during the traditional peak season of September. Data from the China Index Academy shows that as of September 20, new home sales area in 30 key cities increased by 1.4% year-on-year, while first-tier cities saw a growth of over 10%, with Beijing and Shanghai rising 23% and 22% respectively. In the secondary market, second-hand home sales in 20 key cities grew 13.1% year-on-year, with Beijing and Shanghai recording 10,000 and 16,000 units sold, up 2.2% and 24.3% respectively. Cao Jingjing, general manager of the Index Research Department at the China Index Academy, stated that in the long term, as presale housing gradually shifts to spot sales and developers become more cautious in investment and development, new home supply may further decline. This could divert some homebuying demand to the secondary market, providing support for second-hand home transactions.
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China's Key Cities See Double-Digit Growth in Second-Hand Home Sales in Early September
According to data from the China Index Academy, from September 1 to 20, new home sales in 30 key Chinese cities reached 4.88 million square meters, a slight 1.4% year-on-year increase, with first-tier cities growing over 10%. The market shows localized improvement in core cities while remaining in a bottoming phase. The '828 New Policy' and traditional peak season have spurred a wave of new supply, with Beijing issuing 13 presale permits in September, a monthly high, and Shanghai seeing nearly 30 new projects. Second-hand home sales in 20 key cities reached 82,000 units, up 13.1% year-on-year, with Beijing and Shanghai recording seven consecutive months of growth. Analysts from HeShuo Institute and China Index Academy attribute the trends to policy easing, improved replacement chains, and holiday scheduling. However, they caution that overall market recovery remains structural, with price and sales performance still diverging across cities, and most new home markets continuing to bottom out.
Read sourceChina's September Housing Market: Second-Hand Home Sales Surge in 20 Key Cities
According to data from the China Index Academy, China's property market showed signs of seasonal strength in early September. From September 1-20, new home sales in 30 key cities edged up 1.4% year-on-year, with first-tier cities seeing over 10% growth. However, the overall new home market remains in a bottoming phase. A surge in new supply, driven by the '828 New Policy' and the traditional peak season, saw Beijing issue 13 pre-sale permits in September, a monthly high, with 4,458 units approved. In contrast, the second-hand home market showed stronger resilience. Transactions in 20 key cities reached 82,000 units, up 13.1% year-on-year. Beijing and Shanghai recorded their seventh consecutive month of year-on-year growth. Analysts attribute the trends to policy easing, including lower purchase restrictions and higher housing provident fund loan limits. Cao Jingjing, General Manager of the China Index Academy's Index Research Department, forecasts that the 'Golden September and Silver October' period will see structural recovery, with second-hand homes likely to remain more active due to better price adjustments and more choices.
Read sourceBeijing, Shanghai second-hand home sales rise for 7 consecutive months in September
China's property market showed signs of seasonal strength in September, driven by policy easing and the traditional peak season. According to China Index Academy data, new home sales in 30 key cities edged up 1.4% year-on-year in the first 20 days of September, with first-tier cities seeing over 10% growth. New home supply surged as developers rushed to obtain pre-sale permits, with Beijing issuing 13 permits in September, a monthly record. However, overall new home sales remain in a bottoming phase. The second-hand market showed more resilience: transactions in 20 key cities rose 13.1% year-on-year, with Beijing and Shanghai recording seven consecutive months of year-on-year growth. Analysts attribute the trend to policy support, including relaxed purchase restrictions and higher housing fund loan limits, as well as improved replacement chains. Cao Jingjing of China Index Academy expects structural recovery during the 'Golden September and Silver October' period, with second-hand homes likely to remain more active due to better price adjustments and wider choices.
Read sourceChina's September Housing Market Shows Recovery Signs with Double-Digit Second-Hand Sales Growth
According to data from the China Index Academy and other sources, China's property market in key cities showed early signs of a seasonal peak in September 2024. From September 1-20, new home sales in 30 key cities edged up 1.4% year-on-year, while second-hand home sales in 20 key cities surged 13.1% to 82,000 units. Beijing and Shanghai saw second-hand sales rise for seven consecutive months. The market is benefiting from a wave of new supply, with cities like Beijing, Shanghai, and Guangzhou issuing a record number of pre-sale permits in September. Analysts attribute the uptick to policy easing, including lower purchase thresholds and higher housing provident fund loan limits, as well as the '828 New Policy' promoting existing home sales. However, He Jingjing of the China Index Academy cautioned that the market remains in a structural recovery phase, with most cities still in a bottoming process. Second-hand homes, with more flexible pricing, are expected to continue outperforming new homes, absorbing both刚性 (rigid) and upgrade demand.
Read sourceChina's September Housing Market Shows Recovery Signs with Double-Digit Second-Hand Home Sales Growth
According to a report by 21st Century Business Herald citing data from the China Index Academy, China's property market in key cities showed early signs of a seasonal peak in September 2024. From September 1-20, new home sales in 30 key cities edged up 1.4% year-on-year, with first-tier cities seeing over 10% growth. However, the market remains in a bottoming phase. A surge in new supply was observed, with Beijing issuing a record monthly high of 13预售许可证 (pre-sale permits) in September. Second-hand home sales outperformed, with transactions in 20 key cities rising 13.1% year-on-year to 82,000 units. Beijing and Shanghai recorded their seventh consecutive month of year-on-year growth in second-hand home transactions. Analysts from合硕机构 (Heshuo Institution) and the China Index Academy attributed the trends to policy easing, including lower purchase thresholds and higher housing provident fund loan limits, as well as the '828 New Policy' promoting existing home sales. They forecast that the 'Golden September and Silver October' period will see structural recovery, with second-hand homes remaining relatively active due to more flexible pricing.
Read sourceChina's New Home Sales Edge Up 1.4% in First 20 Days of September; Second-Hand Sales Surge 13.1%
According to data from the China Index Academy, from September 1 to 20, the floor area of newly built commercial housing sold in 30 key Chinese cities increased by a marginal 1.4% year-on-year. First-tier cities continued to see growth, but the recovery remains concentrated in high-quality districts and projects in core cities, with structural divergence persisting. In contrast, the second-hand housing market showed stronger momentum: the number of second-hand home transactions in 20 key cities rose by 13.1% year-on-year, with Beijing and Shanghai recording year-on-year growth for seven consecutive months. Cao Jingjing, General Manager of the Index Research Department at the China Index Academy, commented that the '8·28' policy adjustment has had a relatively limited direct impact on the recent supply pace. She stated that future market performance will still depend on the release of demand and the intensity of project marketing efforts.
Read sourceChina's New Home Sales in 30 Key Cities Edge Up 1.4% in First 20 Days of September
According to data from the China Index Academy (CIA), new home sales in 30 key Chinese cities rose by a marginal 1.4% year-on-year during the first 20 days of September. First-tier cities continued to show growth, but the recovery remains concentrated in high-quality urban areas and projects, highlighting a persistent structural divergence in the market. In the secondary market, existing home sales in 20 key cities increased by 13.1% year-on-year, with Beijing and Shanghai recording seven consecutive months of year-on-year growth. Cao Jingjing, General Manager of the CIA Index Research Department, stated that the August 28 policy adjustment has had a relatively limited direct impact on the recent supply pace. She added that future market performance will depend on demand release and project marketing efforts.
China's September Home Sales: Secondary Market Grows, New Home Sales Edge Up
According to a report by the China Index Academy (CIA), China's property market in September (1-20) showed mixed results. New home sales in 30 key cities saw a slight year-on-year increase of 1.4%, driven by growth in first-tier cities like Beijing (+23%) and Shanghai (+22%), though the overall market remains in a bottoming-out phase with significant divergence between cities and projects. In contrast, the secondary housing market demonstrated stronger resilience, with transactions in 20 key cities rising 13.1% year-on-year. Beijing and Shanghai have recorded year-on-year growth for seven consecutive months. The CIA forecasts that the 'Golden September and Silver October' period will see continued structural recovery, with the secondary market likely to remain relatively active due to more flexible pricing and a wider selection of properties. The report also notes that land market transactions have contracted following the August 28 policy adjustments, with developers focusing on high-quality plots in core locations.
Read sourceChina's Key City Second-Home Sales Continue Growth in Golden September
According to a report from stockstar_securities_news, China's key cities are seeing continued growth in second-hand home sales during the traditional 'Golden September' season, driven by optimized housing policies. Data from the China Index Academy shows that from September 1-20, new home sales in 30 key cities rose 1.4% year-on-year, while second-hand home sales in 20 key cities surged 13.1% year-on-year. Beijing and Shanghai have recorded seven consecutive months of year-on-year growth. In Shenzhen, second-hand home sales reached 4,084 units in the first 20 days of September, up 16% from August. Cao Jingjing, General Manager of the China Index Academy's Index Research Department, stated that the market is undergoing structural repair, with second-hand homes attracting rigid and replacement demand due to better price adjustments and more choices. The share of second-hand homes in total housing transactions has risen to 52% nationally in the first eight months, and to 68% in 30 key cities. Analysts suggest that the real estate market is entering an 'era of stock,' and that policies like 'trade-in' programs could further smooth the replacement chain. Some industry insiders noted that market resilience has improved compared to last year, and second-hand home prices are expected to gradually return to reasonable levels without major fluctuations.
Read sourceChina's 30-City New Home Sales Edge Up 1.4% in Sept 1-20, Structural Divergence Continues
According to data from the China Index Academy (中指研究院), from September 1 to 20, the transaction area of newly built commercial housing in 30 key Chinese cities increased by a marginal 1.4% year-on-year. First-tier cities continued to show growth, but the recovery remains concentrated in high-quality sectors and projects within core cities, indicating ongoing structural divergence. In contrast, second-hand home transaction volume in 20 key cities rose by 13.1% year-on-year, with Beijing and Shanghai recording seven consecutive months of year-on-year growth. Cao Jingjing, General Manager of the Index Research Department at the China Index Academy, commented that the '8·28 policy' (likely referring to a late-August policy adjustment) has had a relatively limited direct impact on the recent supply pace. She added that the market's future performance will depend on demand release and project marketing efforts.
Read sourceChina's 'Golden September' Property Market Shows Mixed Signals Amid Policy Support
According to a report from East Money citing China Index Academy data, China's property market in September 2024 (the traditional 'Golden September' sales season) is showing mixed performance. While new home sales in 30 key cities saw a marginal 1.4% year-on-year increase from September 1-20, the market remains in a bottoming-out phase with significant divergence between cities and projects. First-tier cities like Beijing and Shanghai led growth, with new home sales rising 23% and 22% respectively. The resale housing market showed stronger resilience, with transactions in 20 key cities up 13.1% year-on-year, and Beijing and Shanghai recording seven consecutive months of growth. The land market remains cautious, with developers focusing on prime locations. The China Index Academy forecasts that the market will continue to see structural recovery during the 'Golden September and Silver October' period, with most cities' new home sales still bottoming out, while the resale market is expected to remain relatively active due to more flexible pricing and better inventory.
Read sourceChina Index Academy: New Home Sales in 30 Key Cities Rose Slightly in Sept 1-20
According to data from the China Index Academy, from September 1 to 20, the sales area of newly built commercial housing in 30 key Chinese cities increased by 1.4% year-on-year. First-tier cities continued to show growth, but the recovery remains concentrated in high-quality sectors and projects in core cities, with structural divergence persisting. In 20 key cities, second-hand home sales volume rose 13.1% year-on-year, with Beijing and Shanghai recording seven consecutive months of year-on-year growth. Cao Jingjing, General Manager of the Index Research Department at the China Index Academy, stated that the August 28 policy adjustment has had a relatively limited direct impact on the recent supply pace, and future market performance will depend on demand release and project marketing efforts.
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