Shenzhen: Second-hand home inquiries and transactions both rebound during National Day holiday

As one of the bellwethers of the national housing market, Shenzhen has also seen changes in the new home and second-hand home markets during the National Day holiday as policies took combined effect. "Driven by policy stimulus, second-hand home transaction volume in September was already significantly higher than in August. During the National Day holiday, consultation volume and transaction volume also showed some recovery compared with the past," Xiong Xiaofei, business district manager of the Shenzhen Lianjia Dongfang Yiyuan store, told a Securities Times reporter. "The most intuitive change is that the decision-making chain for homebuyers has noticeably shortened. The new housing policies have boosted homebuyers' confidence and also removed the long-standing uncertainty in the market, making purchasing decisions more decisive." During interviews, the reporter found that although second-hand home price trends in different areas of Shenzhen have diverged, market confidence has been somewhat restored, and the room for bargaining between homeowners and homebuyers has continued to narrow. At the same time, the proportion of homebuyers applying for long-term personal housing loans of more than 30 years is rising rapidly. In addition, according to monitoring by the Shenzhen Beike Research Institute, in the first five days of this year's National Day holiday, the number of second-hand home contracts signed by Beike's partner stores in Shenzhen increased by 23% year on year.