China's Real Estate Market Sees Boost Amid Holiday Stimulus

Government measures lead to a surge in home sales during the National Day holiday, but experts call for further actions to sustain recovery.

Stimulus measures, including lower mortgage rates and eased transaction restrictions, led to a significant increase in home sales during China's National Day holiday.
Developers like Midea Real Estate and China Resources Land canceled discounts following a rebound in market sentiment.
Beijing saw an 81% increase in average daily home sales compared to last year's holiday period, though nationwide sales still lag behind previous years.
Analysts believe that while the recent boost is positive, more substantial policy interventions are needed to address excess inventory and stabilize the sector long-term.
The real estate market, a critical component of China's economy, has struggled since 2020 due to high debt levels and unfinished projects, necessitating continued government support.