On October 2, the sales manager of a Shanghai project told reporters that the project's actual showroom had officially opened, and by noon it had already received over 100 groups of visiting clients, selling 3 townhouse villas. One client who had previously purchased a garden apartment brought family and friends to visit the showroom and decided to trade up for a villa.
During the National Day holiday, reporters conducted on-site visits to several new home projects for sale in Shanghai and found that some developments were seizing the sales window of the "Golden September and Silver October" period by opening actual showrooms to welcome visitors, while some high-end projects paused receptions during the long holiday to accommodate clients' travel schedules.
Homebuyers Are Making Decisions Faster
At around 2:30 PM on October 2, at the project site of Poly Junyuan in Yangpu District, Shanghai, many prospective buyers were entering the actual showroom area, with the sand table, elevator passages, clubhouse, and negotiation areas all crowded with people. Reporters noticed that most visitors were entire families, with many three-generation households viewing homes, selecting units, and signing contracts together.
Before Shanghai's "ready-made home sales" guidelines were introduced, visiting clients were mostly concerned about the disbursement timing for later batches of housing. Now that the guidelines have been officially released, these questions have been answered. The latest batch to open is disbursed after completion filing, and under these circumstances, homebuyers have become more determined to purchase. The sales manager of Poly Junyuan told reporters that during the Mid-Autumn and National Day holidays, most families came together to view homes, which shortened the internal family decision-making time and accelerated their choices. Several clients that day had already thoroughly researched the project beforehand and signed on the spot after seeing the actual showroom.
On October 4, at the project site of China Railway Yunlu Waitan in the Yangpu Riverside section of the East Bund, where the unit price exceeds 130,000 yuan per square meter, a sales consultant told reporters that the currently available units have an average price of approximately 15 million yuan. During the National Day holiday, many clients were traveling, but those who came to view homes had very clear goals, with an average of one unit sold per day. As of press time, the project's total sales during the National Day holiday were approximately 100 million yuan.
Most clients come from the two major districts of Yangpu and Hongkou. The project's transportation is very convenient and has also attracted many office workers from Lujiazui to purchase homes. In September, 22 units were sold, China Railway Yunlu Waitan revealed to reporters.
At the project site of Xiangyu Tianyu Lanxiang in Minhang District, Shanghai, National Day holiday home viewers were also predominantly whole families. The project's sales manager Xu Tong told reporters that the site averaged nearly 100 visiting groups per day, with cumulative sales of 230 million yuan in the first three days of the National Day holiday. Overall, attention around the Zizhu section of Minhang District and the area surrounding Lanxiang Lake has continued to rise.
Recently, the main homebuying demographic is upgrade-oriented families aged 30 to 45, with budgets mostly around 10 million yuan. Most buyers come from the Zizhu High-Tech Park, Minhang Development Zone, as well as talent from sci-tech enterprises and corporate management in Xuhui and Pudong, Xu Tong told reporters. The increase in visits and transactions is due to three factors: the continuous optimization of policies, the project's own location and product strength, and the brand credibility and delivery certainty of state-owned enterprises.
Regarding the impact of the new policies on the market and projects, the interviewed developments all believe there is a positive effect on unleashing upgrade-oriented demand. The sales manager of Poly Junyuan believes that the implementation of the guidelines is good for the project, and projects with higher overall quality will be more recognized by clients. All companies will actively iterate their products to meet consumers' housing needs.
The "Silver October" Is Worth Looking Forward To
Entering the traditional sales peak of "Golden September and Silver October," combined with the effects of new policies, real estate developers accelerated the pace of new home launches in September. In terms of overall prices, according to the China Real Estate Index System's 100-city price index, Shanghai's new home prices rose 0.50% month-on-month in September and 7.74% year-on-year. Additionally, Shanghai's second-hand home prices also shifted from decline to growth month-on-month, rising 0.11% in September.
Data from Shanghai Centaline Property shows that Shanghai's new home supply in September was 453,000 square meters, up 57.3% month-on-month. A total of 33 projects entered the market during the month, of which 11 had average prices in the range of 30,000 to 60,000 yuan per square meter, with rigid-demand and rigid-demand upgrade products beginning to increase.
Reporters noted that this change in supply structure can be glimpsed from Shanghai's new home transaction performance in September. In the top ten transaction list for September, the activity level of luxury home transactions further cooled. Only 3 luxury projects remained on the list, and the transaction volume of individual luxury developments was maintained at the level of a few dozen units. Meanwhile, first-time upgrade products priced at 30,000 to 60,000 yuan per square meter accounted for half of the top ten list, a phenomenon rarely seen in the past market.
Among them, Xiangyu Jinmao Manjia in Jiading New City ranked first, with multiple rounds of launched units all fully absorbed. Xujing Greentown Yuehaitang, ranking second, also sold out immediately upon opening. Moreover, both projects' online signing volumes exceeded 100 units.
Although some developments performed well during the long holiday, the October market is typically disrupted by a reduction in effective trading days. Shanghai Centaline Property believes that due to the impact of the "August 28" new policies on the cost side for developers, some Shanghai projects have withdrawn previous discount offers, and some projects have signaled price increases, which has provided a certain push for prospective buyers who are currently viewing homes and in the negotiation stage. With the official implementation of Shanghai's supporting detailed rules for the housing market, market anxiety is expected to gradually subside. Looking ahead to October, Shanghai's housing transactions are expected to return to normal, and transaction activity in outer-ring areas will likely maintain current levels.