Since this year, the total volume of transactions in the real estate market has stabilized, transaction prices have gradually stabilized, and the inventory of newly built commercial housing has continued to decline. In the first eight months, the area of second-hand housing transactions nationwide reached 549 million square meters, an increase of 10.6% over the previous year. In August, sales prices of newly built commercial homes and second-hand homes in first-tier cities rose 0.1% month-on-month, respectively; overall, the month-on-month decline in commercial residential sales prices in second- and third-tier cities narrowed. A series of signals indicate that the real estate market, with first-tier cities as “weather vane”, continues to maintain a steady trend. What is behind the strong resilience shown by the market is that since this year, various departments in various regions have adhered to city-specific policies and adjusted and optimized real estate policies. At the end of August, the central government centrally introduced a package of new systemic real estate policies to restructure the basic real estate system in terms of sales and financing; Beijing, Shanghai, Chengdu, Xi'an and other places optimized and adjusted real estate policies. While the positive stabilization trend is increasing, it is also important to note that the basis for market stabilization still needs to be further consolidated. Only by putting into practice the various new policies that have been introduced and ensuring that policies fall from “paper” to “ground” can policy dividends truly be transformed into market vitality.

Since this year, the total volume of transactions in the real estate market has stabilized, transaction prices have gradually stabilized, and the inventory of newly built commercial housing has continued to decline. In the first eight months, the area of second-hand housing transactions nationwide reached 549 million square meters, an increase of 10.6% over the previous year. In August, sales prices of newly built commercial homes and second-hand homes in first-tier cities rose 0.1% month-on-month, respectively; overall, the month-on-month decline in commercial residential sales prices in second- and third-tier cities narrowed. A series of signals indicate that the real estate market, with first-tier cities as “weather vane”, continues to maintain a steady trend. What is behind the strong resilience shown by the market is that since this year, various departments in various regions have adhered to city-specific policies and adjusted and optimized real estate policies. At the end of August, the central government centrally introduced a package of new systemic real estate policies to restructure the basic real estate system in terms of sales and financing; Beijing, Shanghai, Chengdu, Xi'an and other places optimized and adjusted real estate policies. While the positive stabilization trend is increasing, it is also important to note that the basis for market stabilization still needs to be further consolidated. Only by putting into practice the various new policies that have been introduced and ensuring that policies fall from “paper” to “ground” can policy dividends truly be transformed into market vitality.