China’s property developers are making a push to increase sales during the National Day “golden week” holiday following government stimulus measures to revive the sluggish real estate market.
Over 20 Chinese provinces and 130 cities have organized events such as exhibitions and live-streams to promote sales and explain the latest housing policies, as reported by state broadcaster CCTV.
Sellers are offering special holiday discounts and subsidies, including transport subsidies and hometown purchase discounts, to attract buyers during the golden week.
The renewed sales efforts coincide with Beijing’s stimulus package introduced on September 24, which includes mortgage rate cuts and lower down payment requirements.
This holiday period is crucial for gauging China’s domestic demand across various sectors, including retail, tourism, and property sales.
These measures aim to boost consumption and property sales amidst a slowing economy affected by weak consumer demand and local government debts.
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