Core Insights - The real estate market in Foshan has seen a series of policy relaxations aimed at stimulating housing demand, leading to a stabilization in 2023 after a decline in transactions from 2021 to 2022 [1][2] - Despite initial recovery, Foshan's housing market faced a downturn during the 2024 Spring Festival, with significant drops in new residential sales compared to the previous year [1][2] Policy Impact - Foshan implemented over ten policies from 2022 to 2023, including lifting purchase restrictions and increasing public housing loan limits, which contributed to a halt in the decline of housing transactions [1] - The early release of policy benefits in Foshan led to a "siphoning effect," where buyers shifted to nearby cities like Shenzhen and Guangzhou, which also introduced competitive policies [2] Market Performance - In 2023, Foshan's total housing transactions remained stable at 113,413 units, with a notable 32.9% increase in second-hand housing transactions [1] - However, during the 2024 Spring Festival, Foshan's new residential sales dropped by 46.37%, ranking third in decline among ten major cities [2] Future Outlook - Analysts predict a potential recovery in Foshan's housing market by March 2024, driven by the cumulative effects of new policies and increased consumer interest [4] - The recent reduction in mortgage rates and the introduction of new public housing loan policies are expected to further stimulate demand [4][5] Market Trends - There is a growing trend towards larger residential units in Foshan, with an increase in the proportion of units over 120 square meters, indicating a shift towards improvement-oriented housing demand [3] - Despite overall market challenges, high-end residential products are experiencing strong sales, suggesting a divergence in market performance based on property type [2][3]
佛山楼市遭遇“倒春寒”，市场何时能现“小阳春”？