Beijing Sees 8 New Home Projects Obtain Sales Permits in 6 Days, Some Sell Out on Launch Day

Against the backdrop of a multi-department policy document issued on August 28 clarifying the direction of presale-to-completed-home sales reform—and with no local implementation rules yet released by Beijing—the city’s new home market has experienced a wave of intensive pre-sale permit approvals and project launches ahead of the Mid-Autumn Festival and National Day holiday period.

According to data compiled by Securities Times reporters, eight residential projects obtained pre-sale permits between September 15 and September 20, a span of just six days. On September 19 alone, three new projects opened for sale simultaneously, with one project selling out on its launch day.

Industry insiders interviewed believe the recent concentration of new project permit approvals and market entries is linked to the traditional "Golden September" sales season. They expect Beijing’s "Golden September and Silver October" market to see stable prices and transaction volumes, with improved market activity—though structural divergence is likely to remain pronounced.

New Home Projects See Concentrated Permit Approvals and Launches

Based on data from the Beijing Municipal Commission of Housing and Urban-Rural Development, as of September 20, a total of 11 ordinary residential projects had obtained pre-sale permits in September. In terms of issuance pace, eight projects received permits between September 15 and 20, with three projects approved on September 17 alone.

Regarding proposed selling prices, among the 11 projects, two have unit prices exceeding RMB 110,000 per square meter, while the majority of main projects are priced between RMB 60,000 and 70,000 per square meter. By district, Tongzhou District leads with four projects, making it the district with the largest supply in September. Haidian District has one project with 719 approved units, the highest number of units per single permit this month.

Several projects that obtained permits quickly moved to launch sales. On September 19, three new projects opened simultaneously in the Yizhuang, Tongzhou, and Chaoyang districts. According to developer announcements:

• Yizhuang Guoxian Mansion (Yizhuang Yinghai area) released all 510 units at once, selling 408 units on launch day.
• Lake Ying Tian Qing (Tongzhou Jiukeshu area) launched an initial batch of 296 units, all of which sold out on the first day.
• Jinmao Manyu (Chaoyang Dongba area) released approximately 140 units, selling 117 units on launch day.

The launch pace continued: Chenyuan 139 (Chaoyang Taiyanggong area) and Xiyue Jingyan (Tongzhou Songzhuang area) opened on September 20. On the evening of September 21, Yuhai Yunsong (Haidian Shangdi area) sold 509 units for approximately RMB 7.5 billion. Longwei Jingshu (Shijingshan area) opened on September 22.

It should be noted that all sales figures above are based on developer official announcements; final transaction results will be subject to subsequent online contract registration data.

"Golden September and Silver October" Market Activity Expected to Improve

Commenting on the reasons behind the concentrated permit approvals and strong sales of some projects, Guo Yi, chief analyst at Heshuo Institution, told Securities Times that this year’s Mid-Autumn Festival and National Day holidays are consecutive. Many homebuying families have travel plans during the long holiday, making the period before and during the holiday less than ideal for project launches. As a result, the previous weekend became a concentrated launch window for many projects. Additionally, most of these projects acquired land during a relatively stable period in the land market, with controllable land costs. Developers invested more effort in product design, resulting in higher overall quality and stronger perceived value for buyers.

"Furthermore, Beijing’s August 7 housing policy significantly raised the ceiling for housing provident fund loans. Combined with previous continuous optimizations in purchase eligibility, down payment ratios, and total homebuying costs, these multiple policy measures have led to a concentrated release of home-purchase demand. The '828' policy clarifying priority for completed-home sales has also, to some extent, influenced buyers’ expectations of future home prices. The combined effect has resulted in strong launch-day outcomes for these new projects," Guo Yi said.

Cao Jingjing, general manager of the Index Research Department at the China Index Academy, also told reporters that the recent concentrated permit approvals and market entries are related to the traditional "Golden September" launch season. The simultaneous entry of multiple projects has increased supply across different regions, price ranges, and product types, expanding the options available to buyers. This is conducive to releasing previously accumulated home-purchase demand and providing support for new home transactions during the "Golden September" period. It may also help attract some upgrade buyers, facilitating the transmission of demand from the secondary to the primary market. However, the surge in new supply will also intensify competition among projects, and subsequent sales performance is likely to diverge further. Projects with superior quality and reasonable pricing are expected to perform relatively well.

Looking ahead, Cao Jingjing expects Beijing’s "Golden September and Silver October" market to see stable prices and transaction volumes, with improved activity and continued growth in transactions—though structural divergence will remain pronounced, and the market overall is still in a bottoming-out and recovery phase. On one hand, the effects of demand-side policy optimizations from August are still being gradually released, and September and October are traditionally peak sales seasons, which should help maintain market activity. On the other hand, after earlier market adjustments, Beijing homebuyers remain generally rational, and the sustainability of demand release depends on residents’ income expectations, home price expectations, and the performance of the secondary housing market. The secondary market will remain an important support for "Golden September and Silver October," while high-quality new home projects in good locations with reasonable pricing may see sales performance better than the market average.