Core Viewpoint - The real estate market in Qingdao, a coastal city in Shandong Province, has shown unexpected recovery during the "Golden September and Silver October" period, with new home transaction volumes increasing due to developer discounts and price reductions [3][6][12]. Market Performance - During the National Day holiday, Qingdao's new home transaction area increased by 10% year-on-year, making it one of the few second-tier cities to see such growth [3][6]. - In the first nine months of 2025, Qingdao's new home transactions totaled 47,825 units, with a total transaction value of 82.594 billion yuan, reflecting a year-on-year decline of 4.64% and 5.04% respectively [10]. Factors Driving Recovery - The recovery in Qingdao's real estate market is attributed to several factors, including the launch of new projects and discounts offered by developers, which have stimulated demand [8][12]. - The city aims to become a "healthcare city," with plans to establish high-quality health living areas and international health tourism destinations by 2027 [6]. Buyer Trends - The majority of new home buyers in Qingdao are looking for improvements in their living conditions, with nearly 80% of buyers focusing on upgrading their homes [8][11]. - The introduction of fourth-generation residential projects has attracted many buyers, indicating a shift towards more innovative and comfortable living spaces [8][13]. Price Dynamics - The second-hand housing market in Qingdao has seen a decrease in prices, with a year-on-year decline of 5% as of August, while new home prices have also been influenced by promotional activities [10][12]. - The overall price adjustment in Qingdao has made housing more attractive, with a reported 30% reduction from peak prices, enhancing the perceived value for buyers [13]. Future Outlook - Industry experts believe that while there is potential demand reflected in the recent monthly data increases, the overall market is still in a recovery phase [14]. - Various favorable policies, including purchase subsidies, are expected to continue lowering barriers for buyers and stimulating market activity [14].

Core Viewpoint - This year marks a significant improvement in the "product strength" of the Qingdao real estate market, with a notable increase in new home transactions during the traditional peak season of "Golden September and Silver October" [1][6]. Market Performance - During the National Day holiday, Qingdao's new home transaction area increased by 10% year-on-year, making it one of the few second-tier cities to see a rise in new home registrations [1][3]. - In the first nine months of 2025, Qingdao's new home sales totaled 47,825 units, with a total transaction value of 82.594 billion yuan, reflecting a year-on-year decline of 4.64% and 5.04% respectively [7]. Factors Driving Sales - The increase in transactions is attributed to developers offering discounts, with prices for new homes dropping from an average of 18,000 yuan per square meter to around 16,000 yuan [1][9]. - The introduction of new projects and products in hot areas of Qingdao during August and September has activated some demand, with a significant portion of buyers focusing on improving their living conditions [6][11]. Product Development - Developers are focusing on creating high-quality housing, with new projects leaning towards innovative designs such as "fourth-generation" homes, which have a higher effective area ratio [6][10]. - The market is seeing a trend towards larger, high-end units, with a notable emphasis on "zero public area" offerings, enhancing the perceived value for buyers [10]. Future Outlook - Industry experts believe that while there is a potential demand reflected in the monthly data increases, the overall market is still in a recovery phase [11]. - Various favorable policies, including purchase subsidies, are being introduced to lower entry barriers for buyers, which may stimulate demand further [11].