On October 18, a press conference was held by the State Council Information Office to discuss the performance of the national economy in the first three quarters of 2024. During the event, Deputy Director of the National Bureau of Statistics Sheng Laiyun expressed optimism about the future of the real estate market, citing the implementation of a comprehensive set of real estate policies.

Sheng shared that a recent survey conducted among real estate developers and agencies in 70 major and mid-sized cities showed a positive shift in sentiment. In September, the optimism among new housing professionals increased by 10 percentage points compared to the previous month, while second-hand housing professionals reported a 6.5 percentage point increase in confidence. This improvement in sentiment is seen as quite significant.

Moreover, Sheng noted noteworthy changes in the real estate landscape during the National Day holiday (Golden Week). There was a marked increase in foot traffic and transaction volumes for various housing projects. According to some market organizations, the contracted transaction area for new homes surged by 102% during the holiday, and for second-hand homes, it rose by 205%. This indicates a clear positive shift, leading to a belief that the real estate market is poised for a constructive transformation.