Shanghai New Home Sales Double Year-on-Year During National Day Holiday, Secondhand Market Hits Six-Year High in September

Under the combined impact of the 'Shanghai Eight Articles' policy and detailed rules for commodity housing sales reform, Shanghai's property market extended its recovery trend from 'Golden September' through the National Day holiday. According to data from China Index Academy, new residential home sales across Shanghai reached 1.179 million square meters in September, a 22.1% year-on-year increase. The secondhand market remained equally active, with cumulative online signings of 23,581 units (including commercial properties) during the month, representing a 15.7% year-on-year rise and setting a new high for the same period in six years. Since March this year, monthly secondhand home sales have consecutively surpassed 23,000 units for seven months, clearly indicating market recovery. According to Shanghai Central Property Agency statistics, during the National Day holiday (October 1-7), sales of newly built residential homes in Shanghai reached 34,600 square meters, doubling the volume of 17,300 square meters recorded during last year's holiday period (October 1-8).