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real estate companies "rushed to harvest" during the mid-autumn festival holiday, but sales fell short of expectations and market differentiation continued

2024-09-25

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interface news reporter | yang bingke
during the mid-autumn festival holiday, real estate developers stepped up their sales and promotional efforts to seize the property market, but the overall market remained relatively flat.
according to the china index academy, affected by multiple factors such as typhoons and travel, the overall visit volume to sales offices in most cities is average, and the transaction volume is lower than the level of previous mid-autumn festival holidays. according to china index academy data, during this year's mid-autumn festival holiday (9.15~9.17), the average daily sales area of ​​new homes in 25 representative cities decreased by about 29% compared with the 2023 holiday.
from first-tier to second-tier cities, real estate developers have taken a series of promotional measures, but with little success.
among the first-tier cities, shanghai still has the best market in the country. during the mid-autumn festival, 14 projects in shanghai were launched for subscription, including popular luxury housing projects such as zhonghai residence and cuihu tiandi liuheting. the subscription rate of two projects has exceeded 100%. the cuihu phase vi project has an average price of 210,000 yuan and the number of subscribers on the first day still exceeded 70. the luxury housing market in shanghai is still hot.
however, the promotion effect in beijing, guangzhou and shenzhen was average. around the mid-autumn festival in beijing, developers continued their recent promotional activities and launched exclusive discounts for the mid-autumn festival. at the same time, the number of special-price houses increased significantly, and the overall discount was relatively large. in addition, while developers were rolling up prices, they increasingly emphasized product selling points to attract customers to subscribe, but the performance of holiday customer visits was relatively average.
during the mid-autumn festival holiday in guangzhou, more than 40 real estate projects launched surprise promotions such as fixed price and special price, and 2 real estate projects were launched at the same time. from the overall market perspective, market popularity and visit volume have increased compared with the previous period, especially the newly launched projects have attracted many buyers due to their superior geographical location and high cost performance, but the transaction end has not yet appeared.
the shenzhen property market has seen large discounts during the holidays. in addition to developers' regular promotional activities, the shenzhen government has also launched a housing subsidy program for home renovations. however, residents are still cautious about buying homes, and are mostly on the sidelines as expectations of price increases are insufficient.
among the strong second-tier cities, hangzhou still performed well, but suzhou and nanjing were greatly affected by the typhoon.
during the mid-autumn festival holiday in hangzhou, real estate companies were very active in marketing. in addition to mid-autumn festival warm-up activities, garden parties, free parking spaces and decorations when buying a house, and smashing golden eggs, some real estate companies also launched a series of theme activities.
for example, zhejiang poly launched the "golden autumn house grabbing festival", which not only offers mid-autumn festival visit gifts and transaction gifts, but also provides a 3,000 or 5,000 yuan/month/unit mid-autumn festival subsidy for subscribing to designated projects, and the subsidy is for 12 months. during the event, the atmosphere at the property site was strong, the popularity was high, and the number of customer visits also increased significantly compared to usual times. the overall activity of the hangzhou property market is acceptable.
a typhoon passed through suzhou during the mid-autumn festival, and there were no new housing launches, so the number of visits to new homes was also greatly affected.
during the mid-autumn festival holiday in nanjing, many sales offices launched holiday discounts, but due to the typhoon weather, the number of visitors to the sales offices did not increase significantly, and there were not many highlights in the transactions during the short holiday.
among the other second-tier cities, although chengdu and xi'an have increased their promotional efforts, the transaction results are also average.
during the mid-autumn festival holiday in zhengzhou, various projects have launched promotional policies such as preferential housing, home appliance packages, and property fee reductions. combined with the government's previous support policies such as housing vouchers, consumer vouchers, and housing provident fund increases, zhengzhou's real estate market has shown a partial warming trend. the popularity of many regional improvement projects is relatively strong. the number of customer visits and subscription performance during the holiday period has increased significantly compared with before the holiday, reflecting that the demand for improved housing still has great potential for release. at the same time, the overall performance of rigid demand projects is weak, and the prices of individual projects continue to break lows. with the general substantial upgrade of new project products, market differentiation may continue to increase.
during the holiday period, the number of newly launched projects in xi'an's real estate market decreased, and many real estate projects launched discounts and "buy a house and get a car for free" and other activities, but sales performance was lower than expected, and sales of some real estate projects were even in single digits.
according to the report of china index academy, in september, the real estate market entered the traditional "golden september" marketing peak season. during the mid-autumn festival holiday, many sales offices intensified their marketing efforts. however, from the perspective of market performance, only the number of visits to real estate projects in the core areas increased compared with the pre-holiday period. the phenomenon of cold and hot differentiation still exists, and the overall market performance is still relatively flat. in addition, due to the impact of typhoons in jiangsu, zhejiang and shanghai, the pace of real estate transactions has temporarily slowed down.
according to the report of china index academy, the traditional peak season of september has started off sluggishly, and long-term factors such as residents' income expectations have not improved significantly. the wait-and-see sentiment is still strong. at the same time, the new housing market is under pressure due to the shrinking supply, while the second-hand housing market in key cities has maintained a certain degree of activity under the "price-for-volume" strategy. from the trend point of view, the property market policy is expected to be optimized at the end of september. with the support of policies, the market transaction volume in the fourth quarter is expected to pick up.
source: jiemian news
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