Reporters learned from the Ministry of Housing and Urban-Rural Development on the 1st that in the month, the transaction volume of commercial housing achieved "double growth" year-on-year and month-on-month. The increase in transaction volume has expanded from first-tier cities to more cities.

According to the data from the "National Real Estate Market Monitoring System" of the Ministry of Housing and Urban-Rural Development, the nationwide online signing volume of newly built commercial housing increased by 1.6% year-on-year in the month, expanding by 0.1 percentage points compared to the year-on-year increase in the previous month. This marks the first growth after a continuous decline since last November. The nationwide online signing volume of second-hand housing increased by 1.4% year-on-year, achieving year-on-year growth for 10 consecutive months. The total transaction volume of newly built commercial housing and second-hand housing increased by 1.3% year-on-year, marking the first growth after a continuous decline for 10 months since this January.

Statistics show that the nationwide online signing volume of newly built commercial housing increased by .% month-on-month in the month; the online signing volume of second-hand housing increased by .% month-on-month; the total volume of newly built commercial housing and second-hand housing transactions increased by .% month-on-month.

The relevant department head of the Ministry of Housing and Urban-Rural Development stated that the sales area of commercial housing saw a month-on-month increase in October, surpassing September, traditionally known as the "golden September." October, being the first month of the fourth quarter, usually experiences a depletion effect due to the rush in the previous month. It is extremely rare for October to surpass September this year, marking the first time since 2015 that "silver October" has exceeded "golden September."

In addition, the growth in trading volume has expanded from first-tier cities to more cities. Statistics show that the growth in first-tier cities is more pronounced, with the trading volume of newly built commercial housing increasing by .% year-on-year, and the trading volume of second-hand housing increasing by .% year-on-year. In cities such as Guangzhou, Shenzhen, Nanjing, Ningbo, Dalian, and Dongguan, the trading volume of new homes increased by more than % year-on-year, while in cities like Beijing, Shanghai, Shenzhen, and Hangzhou, the trading volume of second-hand homes increased by more than % year-on-year. Regionally, the trading volume of newly built commercial housing increased year-on-year in provinces, an increase of over the previous month. Among them, Hunan, Tianjin, Guangdong, Jiangxi, and Jiangsu saw increases of over %. The trading volume of second-hand housing increased year-on-year in provinces, an increase of over the previous month. Among them, Beijing, Shanghai, Hebei, Liaoning, Zhejiang, Hunan, Chongqing, Guizhou, Gansu, Shaanxi, and Ningxia saw increases of over %.

The relevant department head of the Ministry of Housing and Urban-Rural Development stated that, based on the monthly data, under the combined effect of existing and new policies, the national real estate market is showing a positive momentum of stabilizing and rebounding. With the continuous release of policy effects, the real estate market is expected to maintain a favorable trend.

Source: Xinhua News Agency

Reporter: Wang Youling

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