“五一”楼市表现平淡，“好房子”仍有热度

Core Viewpoint - The overall performance of the real estate market during the May Day holiday was relatively flat, with a slight year-on-year decline in subscription area across 19 key cities, influenced by increased travel enthusiasm among residents [1][10]. Group 1: Market Performance - Subscription area in 19 key cities during the holiday was 1.22 million square meters, representing a 35% month-on-month decline and a 4% year-on-year decline [1][4]. - Some cities, such as Guangzhou, Wuhan, and Tianjin, experienced growth in subscription area both month-on-month and year-on-year, with Guangzhou showing a 27% month-on-month increase and a 40% year-on-year increase [2][3]. Group 2: City-Specific Trends - Cities like Beijing and Shenzhen saw significant declines in subscription area, with Beijing down 53% month-on-month and 64% year-on-year, while Shenzhen experienced a 63% month-on-month decline but a 331% year-on-year increase [3][4]. - In contrast, Guangzhou's performance was notable, with a 200% increase in project visits and a 191% year-on-year increase in average subscriptions per project [5][7]. Group 3: Consumer Behavior - The demand for housing was affected by residents' preference for travel over home buying during the holiday, leading to a temporary bottleneck in purchasing activity [5][10]. - The market showed a clear preference for high-value properties in core areas and discounted first-time buyer properties, indicating a focus on value for money among consumers [8][9]. Group 4: Future Outlook - The market is expected to gradually release housing consumption demand in May, with overall transaction volumes likely to remain stable or slightly increase compared to April, while year-on-year comparisons may hold steady [10].