北京楼市“银十”低调收尾，前十月共成交17.3万套住房

Core Viewpoint - The Beijing real estate market has experienced a subdued performance during the traditional peak season of "Golden September and Silver October," with significant declines in both second-hand and new housing transactions compared to previous periods [2][3]. Summary by Category Market Performance - In October, the number of second-hand housing transactions in Beijing was 12,087 units, representing a month-on-month decrease of 23.7% and a year-on-year decrease of 30.4% [2]. - The new housing market saw 3,511 units sold in October, which is a month-on-month increase of 1.36% but a year-on-year decrease of 28.97% [2]. - The overall transaction volume for new residential properties from January to October 2025 reached 30,290 units, a year-on-year increase of 9.7%, while second-hand homes totaled 142,620 units, up 5.4% year-on-year [4]. Influencing Factors - The decline in October's transactions is attributed to multiple factors, including the National Day holiday, which saw only 148 second-hand housing transactions during the holiday period [3]. - A new policy introduced in August allowed unlimited purchases of new homes outside the Fifth Ring Road, impacting short-term market dynamics [3]. - The high base from last year's market stimulus, particularly the "930" policy that significantly boosted transactions in September 2022, has made this year's October figures appear low in comparison [3][4]. Market Trends - The current real estate market is transitioning from rapid growth to a phase driven by fundamental factors such as population, economy, and income, indicating a potential downward pressure on housing prices [4]. - Despite the overall subdued performance, the new housing market in Beijing has shown some highlights, with significant sales from new projects like Huangshan Mudi's "Twin Stars" and Zijing Chenyuan [5]. - The top three real estate companies in terms of sales in Beijing for the first ten months of the year were China Overseas Land & Investment (CIL), Yuexiu Property, and China Resources Land, with sales of 38.61 billion, 25.49 billion, and 23.89 billion respectively [5].