National Day Holiday Sparks Property Buying Frenzy Across Multiple Cities, Housing Market Heat Rises

Deep News
10/07

Interest subsidies, ready-to-move-in homes, and enhanced housing provident fund policies... During this National Day holiday, the property markets in first-tier cities put in a standout performance.

The new home and second-hand home markets in multiple cities including Suzhou, Zhengzhou, and Wuhan also recovered simultaneously, with visitor numbers and transaction volumes at many property developments achieving both year-on-year and month-on-month increases.

Starting in September, Suzhou launched a two-month "Golden Autumn Home Buying Season" campaign. Combined with the National Day holiday home purchasing surge, market activity clearly rebounded. Many families visited properties together, and a large number of buyers from surrounding cities took advantage of the holiday to finalize their home purchases.

Zhengzhou introduced locally supporting policies, lowering the down payment for existing housing to 20% and adding intergenerational mutual-aid housing provident fund loans. Starting October 1, interest subsidies for first homes took effect. Some homebuyers said that for a small unit under 90 square meters they purchased, the monthly mortgage payment could be reduced by nearly 700 yuan. In the first two days of the National Day holiday, some popular developments saw daily visitor numbers exceed one hundred, more than doubling compared to ordinary weekends.

During the National Day holiday, rigid housing demand in Wuhan was released in a concentrated manner. Multiple new development projects sold rapidly after their listings were launched.

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