Golden Week Surge: How Beijing’s Stimulus Measures Propelled China’s Property Market to New Heights

Golden Week: Stimulus efforts from Beijing enhance China's real estate market sales

The significant sales recorded in Shenzhen throughout the holiday week are indicative of the powerful effect of the comprehensive stimulus strategies recently implemented by Beijing.

"Feng stated that they had to prolong their business hours until 11pm, instead of the earlier closing time of 7pm, in order to accommodate an increasing number of customers. On Thursday, they greeted 350 guests. The property is primarily aimed at families seeking to enhance their living conditions, given that the discounted apartments are priced at an average of 70,000 yuan per square meter."

Both cities have also granted homeowners who reside in their properties an exemption from the 5.5 per cent capital gains tax if they decide to sell their homes after a period of two years, a change from the former five-year holding requirement.