According to CCTV, home sales in China saw a significant rise during the National Day holiday, fueled by recent stimulus measures aimed at revitalizing the country's real estate market. The seven-day holiday, which began on October 1, witnessed a 50% increase in house visits in some areas, indicating improved consumer confidence in the sector, according to state media.
Over 50 cities introduced new policies, including cuts to mortgage rates and down-payment requirements, to spur property demand. Key cities like Guangzhou, Shanghai, and Shenzhen further relaxed restrictions on home purchases. These moves follow China's broader economic stimulus initiatives unveiled in late September, aiming to stabilize the real estate sector, which accounts for roughly one-quarter of the nation’s economic activity.
Despite positive signals, the long-term sustainability of this recovery remains uncertain, as the property market continues to face structural challenges, and global investors closely watch its impact on China’s broader economic outlook.
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