Since the end of September, a series of favorable policies for the real estate market have been released, including reserve requirement ratio cuts, interest rate cuts, down payments, and interest rates on existing housing loans. First tier cities have also adjusted their purchase restriction policies, including Beijing and Shanghai to relax the purchase restriction conditions, Guangzhou to completely cancel, and Shenzhen to partially cancel. It has been a month since the implementation of the new policy, and there have been positive changes in the sales and housing price data of commercial housing in many places. In some cities, the transaction volume has even doubled. Beijing: The transaction volume of second-hand houses has significantly increased in Beijing, and the monthly data for October is expected to reach a new high in 19 months. On the last weekend of October, before 10 o'clock in the morning, a customer was already inquiring at an intermediary store outside the East Fourth Ring Road in Beijing. According to the store agent, the area covered by this store has a relatively large number of small and medium-sized apartments, which better meet the needs of families with rigid demands. In the past month, there has been a significant increase in the number of customers coming to the store for consultation and viewing. Compared to September, the working hours of 9 am to 7 pm are no longer sufficient to meet the needs of customers, and sometimes they may work overtime until 12 pm. Shao Li, manager of a real estate agency store in Beijing: In terms of transaction volume, from September 1st to September 30th, the transaction volume was 7; As of October now, 20 orders have been signed. At the signing center of a real estate agency in Beijing, all 10 signing rooms were in use at 8 pm, and some customers waiting to sign were waiting in the rest area. Gao Shang, the person in charge of the signing service center of a real estate agency in Beijing, said: "Previously, when we talked about a single order, regardless of the subject matter or the amount, the negotiation process may take about 3 to 5 hours. Since the new policy was introduced, the current negotiation time ranges from 1.5 to 3 hours, and the signing process has been much smoother than before. According to statistics from relevant market institutions, as of October 27th, the online signing volume of second-hand residential properties in Beijing has reached 13156 units, and it is expected that the monthly online signing volume will reach a new high in nearly 19 months. Industry insiders say that due to the lag in online signing data, it is expected that actual transaction data will continue to rise in the last few days of October. In the industry's view, the current transaction market for second-hand houses in Beijing will continue for a period of time. Shanghai: The combination of new policies in the real estate market continues to heat up. Since the implementation of the new policies in Shanghai's real estate market four weeks ago, the policy effects have gradually emerged, and the second-hand housing market in Shanghai has shown a significant warming trend. Since October, the transaction volume has exceeded a thousand units in four days. After the implementation of the new policy, the second-hand housing market in Shanghai has become increasingly active. At a real estate agency store in Pudong New Area, more than ten agents have all gone out to show clients properties. The store manager told reporters that such a situation is normal after the new policy. Qu Hongpeng, store manager of a real estate agency in Shanghai: Since the new policy, there has been a qualitative breakthrough in the overall viewing volume, including on-site consultation volume. It used to be quite good to have around ten to twenty clients per week, but after the '929 New Policy', it can now reach around 35 clients per week. Industry insiders told reporters that in this new policy, the favorable policy of adjusting the VAT exemption period for individual sales of housing from 5 years to 2 years has greatly increased the trading enthusiasm of customers in the second-hand housing market. According to statistics from relevant institutions, as of October 26th, the total number of second-hand housing transactions in Shanghai has exceeded 20000 units, reaching 20028 units, an increase of 52.3% compared to the same period in September, becoming the fourth month this year to exceed 20000 units. Since October, there have been 4 days where the daily trading volume has exceeded 1000 sets. On October 13th, the online signing volume of second-hand houses reached 1334 sets, setting a new daily high since September last year. From the current trend, the second-hand housing market in Shanghai showed significant growth in October, with transaction volumes reaching new highs. The industry believes that this achievement not only reflects the activity of both the supply and demand sides of the market, but also demonstrates the resilience and vitality of the Shanghai real estate market. Experts say that the booming second-hand housing market in Shanghai is conducive to forming a positive cycle mechanism for the recovery of the real estate market. Guangzhou: Online signings for first-hand residential properties increased by over 40% year-on-year in October. At the end of September, the Guangzhou real estate market fully lifted purchase restrictions, ending a 14 year housing market purchase restriction policy. No matter registered residence or marital status, you can buy a house in Guangzhou. On the same day, the new housing loan policy was implemented, which means that regardless of whether it is a second or first home, the minimum down payment ratio will be uniformly adjusted to 15%. Now, one month after the implementation of the new policy, the transaction volume of Guangzhou's real estate market has increased significantly. Recently, Guangzhou held a cross industry real estate expo. As the first city level real estate expo in Guangzhou in nearly a decade, the event attracted nearly 40 well-known real estate companies and 120 properties to participate. Discounts such as purchase vouchers, "trade in" gift packages, and rental subsidies were launched on site. Due to the impact of policies such as restricted purchase cancellation, many homebuyers on site came from the surrounding areas of Guangzhou. Since the release of the new real estate policy in Guangzhou a month ago, not only has it activated market customers' attention and enthusiasm for real estate, but their wait-and-see attitude has also decreased. Xiong Miaomiao, sales manager of a real estate project in Guangzhou: Since the National Day holiday until now, our transaction volume has exceeded 100 sets, which is equivalent to doubling compared to the early transaction volume. The conversion rate for recent visits will be much higher, and transactions can be completed within 7-15 days. Since the implementation of the new policy, the real estate market in Guangzhou has seen active transactions. According to data from the Guangzhou Housing and Urban Rural Development Bureau, as of October 27th, the city's newly built commercial housing has been signed online for 1083200 square meters, an increase of 33.3% from the same period last year's 812400 square meters; Compared to September, the online signing of commercial housing for the whole month was 744300 square meters, an increase of 45.5%. Li Yujia, Chief Researcher of Guangdong Housing Policy Research Center: I think the new round of multi ministerial policies on October 18th will form a combined punch effect, including the renovation of urban villages, monetary resettlement, relief of the capital chain of real estate enterprises, and the developers' sprint for performance in the fourth quarter. In November, this will be combined with the favorable policies to drive the continued rebound of sales in the fourth quarter. Shenzhen: Significant Effect of New Real Estate Policies Since the release of the new real estate policies on September 29th, the market response has been enthusiastic, with a significant increase in customer viewership and transaction volume. The trend of stabilizing the real estate market has become increasingly evident. At a real estate agency store in Futian District, Shenzhen, there are constantly citizens coming to inquire, with the majority of them inquiring about second-hand housing listings. The staff introduced that since the introduction of the new policy, the number of second-hand house viewings has increased by nearly 50%, and the transaction volume has also maintained an upward trend. Due to the adjustment and optimization of the purchase restriction policy in Shenzhen, non registered residence households do not need to provide personal income tax or social insurance certificates to purchase houses in some areas. Therefore, in recent times, it has attracted many customers from surrounding areas such as Shantou, Chaozhou, Jieyang, as well as other provinces to come for consultation and viewing. Meng Fanzhen, the person in charge of a real estate agency store in Shenzhen: For customers who do not have a Shenzhen household registration, they can directly purchase a house in Shenzhen. Some of them are preparing to buy a house in advance for their children's education and employment, which has clearly released a wave of concentrated demand. Mainly distributed in the loosening area, such as Longhua, Bao'an, Longgang and other areas. In terms of new houses, the "9.29" new policy has reversed the previous decline, especially for projects with relatively high cost-effectiveness in various regions, the sales speed has significantly accelerated. According to statistics from a real estate agency in Shenzhen, as of October 27th, the total number of new house subscriptions in Shenzhen has reached 10405 units; The cumulative online signing volume of second-hand houses has reached 6811 sets; On average, 252 second-hand houses are signed online every day. Industry insiders say that the favorable policies for the Shenzhen real estate market this time have a better and more sustained stimulating effect on property transactions compared to before, and it is expected that the policy effect will continue until the end of this year. (New Society)