Core Insights - The new policies have had a limited impact on the second-hand housing market compared to new homes, with overall transaction volumes showing little change before and after the policy implementation [1][18]. Group 1: New Housing Market Performance - After the implementation of new policies in August and September 2025, weekly transaction volumes for new homes in Beijing and Shanghai initially increased, while Shenzhen's new home sales remained stable, showing no significant change compared to pre-policy levels [4][5]. - In October, Shanghai's weekly transaction volume decreased by 17% compared to September, and was down 8% compared to the average weekly volume from July. Beijing's market remained relatively stable, with a slight increase of 3% from September and a minor decrease of 1% from July. Shenzhen maintained its momentum from September, with transaction volumes remaining flat compared to the previous month, reflecting a 25% increase from August [5][7]. Group 2: Project Absorption Rates - The absorption rates for new projects in Beijing, Shanghai, and Shenzhen have shown a downward trend post-policy implementation, with Shanghai and Shenzhen's rates declining to 36% and 21% respectively by late October. In contrast, Beijing experienced a temporary spike in absorption rates due to the launch of desirable projects in September [8][9]. Group 3: Second-Hand Housing Market Dynamics - The impact of the new policies on the second-hand housing market has been more pronounced, with weekly transaction volumes in October showing a decline compared to September across Beijing, Shanghai, and Shenzhen. This decline indicates a return to levels seen before the new policies were enacted [13][14]. - Specifically, the average weekly transaction volumes for second-hand homes in October were down 31% in Beijing, 16% in Shanghai, and 15% in Shenzhen compared to September [16][18]. Group 4: Market Outlook - The overall market for new homes in key cities like Beijing and Shanghai has seen some short-term benefits from the new policies, but the long-term effects have not met expectations, with transaction volumes reverting to pre-policy levels by October. The second-hand market is particularly struggling, with prices continuing to decline and a trend of price adjustments for less desirable properties [18].

Core Insights - The article highlights the successful launch of the Zijing Chenyuan project in Beijing, which achieved sales of 5.65 billion yuan on its opening day, indicating strong demand in the luxury real estate market [1][2][4] - The Zijing Chenyuan and the upcoming Puyue project are referred to as the "twin projects" in the Huangshanmu store area, both developed by subsidiaries of China State Construction [1][5] - The competition among the "Eight Sons of China State Construction" is intensifying, particularly between China State Construction's subsidiaries in the Beijing market [1][11] Project Performance - Zijing Chenyuan opened on October 12, with over 400 groups participating in the selection process, resulting in 353 units sold [2][4] - The project consists of 15 residential buildings with unit sizes ranging from 133 to 278 square meters, with the first batch of 559 units available for sale [2][5] - The average price for the units at Zijing Chenyuan is above 100,000 yuan per square meter, with significant discounts offered [2][9] Market Context - The surrounding area of Zijing Chenyuan has not seen new projects in nearly a decade, creating a strong demand for housing in the region [5][15] - The buyer demographic primarily consists of residents from the Chaoyang district, with a focus on those looking to upgrade their living conditions [5][6] - The competitive landscape in Beijing's real estate market is highlighted by the performance of other projects, such as the recent success of the Yunkang Jiuyuan project, which sold 573 units for 4.7 billion yuan [15][18] Competitive Landscape - China State Construction's subsidiaries, including China Overseas and China State Construction's various divisions, are competing for market share in Beijing, with China Overseas leading in sales for seven consecutive years [11][12] - In the first nine months of 2025, China State Construction's subsidiary, China State Construction Zhidi, ranked second in sales among Beijing real estate companies, indicating its growing influence in the market [11][12] - The article notes that the competition is expected to remain fierce, particularly as developers focus on high-demand areas in first-tier cities like Beijing [17][18]

随着传统销售旺季"金九"落下帷幕，北京楼市正式步入"银十"。其成交表现如何？从网签成交量来看， 根据中指研究院数据，9月北京新建商品住宅成交46万平方米，环比增长21%，同比增长22%；二手房 成交1.6万套，环比增长19%，同比增长19%。 值得关注的是，9月份北京新房市场同步迎来供应高峰，中建·运河玖院、璞樾、紫京宸园等位于热点区 域的重点项目集中取证入市，不仅补充了优质房源，更有效带动了市场热度，为"银十"楼市开局铺垫了 基础。 供应"发力"，9月新房供应量环比翻倍 供应端的"放量"是推动9月市场的核心动力。 作为房企推盘销售的传统关键节点，今年"金九"北京楼市的核心特征是供应发力，进而带动成交数据回 暖，热点项目尤其是改善型楼盘成为市场亮点。 据克而瑞北京统计，进入9月份，北京多个新房项目取证、加推、开盘，其中不乏炙手可热的网红盘。 截至9月27日，北京9月份新建商品住宅供应已经超过3000套，环比8月几乎翻倍。 克而瑞北京表示，进入三季度，北京市新建商品住宅供应收缩，7月新增供应量不足1500套，环比、同 比分别下跌55%和48%；8月新增供应也仅1516套；9月超过3000套的市场供应，打破了新房 ...

随着传统销售旺季"金九"落下帷幕，北京楼市正式步入"银十"。其成交表现如何？从网签成交量来看， 根据中指研究院数据，9月北京新建商品住宅成交46万平方米，环比增长21%，同比增长22%；二手房 成交1.6万套，环比增长19%，同比增长19%。 值得关注的是，9月份北京新房市场同步迎来供应高峰，中建 运河玖院、璞樾、紫京宸园等位于热点区 域的重点项目集中取证入市，不仅补充了优质房源，更有效带动了市场热度，为"银十"楼市开局铺垫了 基础。 供应"发力"，9月新房供应量环比翻倍 供应端的"放量"是推动9月市场的核心动力。 作为房企推盘销售的传统关键节点，今年"金九"北京楼市的核心特征是供应发力，进而带动成交数据回 暖，热点项目尤其是改善型楼盘成为市场亮点。 据克而瑞北京统计，进入9月份，北京多个新房项目取证、加推、开盘，其中不乏炙手可热的网红盘。 截至9月27日，北京9月份新建商品住宅供应已经超过3000套，环比8月几乎翻倍。 克而瑞北京表示，进入三季度，北京市新建商品住宅供应收缩，7月新增供应量不足1500套，环比、同 比分别下跌55%和48%；8月新增供应也仅1516套；9月超过3000套的市场供应，打破了新房 ...

Core Viewpoint - The Beijing real estate market has shown vitality during the National Day holiday, continuing the recovery trend observed after the new policies in August, although a divergence in project performance is expected to persist [1][4]. Market Performance - During the National Day holiday, the new housing market in Beijing maintained a positive trend, with some popular projects receiving over 100 daily visits [2]. - The Zhongjian Yunhe Jiuyuan project reported approximately 5.6 billion yuan in sales during the holiday, with 573 units sold on the opening day [2]. - In contrast, the Huayu Jingyun project experienced slower sales, with only about 20 units sold during the holiday, attributed to its less favorable timing compared to other projects [2][3]. Project Analysis - The Yunqing Lanyue project has been successful due to the lack of competition in the area, while the Huayu Jingyun project struggled to attract buyers from outside the main city [3]. - The market is characterized by a significant disparity, with 20% of projects accounting for 80% of sales, indicating a clear divide between high-performing and underperforming developments [5]. Future Outlook - Analysts predict that the market will continue to show signs of divergence, with core cities benefiting from policy adjustments and increased supply [5][6]. - The overall market is expected to maintain relative heat in October, but not to the extent seen after the new policies in 2024, with a potential decline in transaction volumes compared to previous years [5][6]. - The introduction of promotional activities by developers during the holiday period, such as discounts and incentives, aims to boost sales in a still-recovering market [6].

Core Insights - The Beijing land auction on September 30 showcased a stark contrast in bidding activity, with the Chaoyang District site attracting significant competition while the Mentougou District site saw limited interest [1][2]. Group 1: Land Auction Results - The Chaoyang District site, located between the third and fourth ring roads, received 9 rounds of bids before the auction, ultimately selling for 4.3145 billion yuan with a premium rate of 39.18% and a floor price of 85,300 yuan per square meter [1][2]. - The Mentougou District site was acquired by a consortium for the base price of 957 million yuan, resulting in a floor price of approximately 23,500 yuan per square meter [1][5]. Group 2: Market Trends - In September, the supply of new residential projects in Beijing increased significantly, with over 3,000 new units launched, nearly doubling the supply from August [1][7]. - The number of pre-sale permits issued in September reached 26, covering 22 projects and providing nearly 6,000 housing units, a notable increase from 12 permits in August [7]. Group 3: Developer Strategies - China State Construction's acquisition of the Chaoyang site allows for a diversified product offering targeting different customer segments, potentially reducing marketing costs through a concentrated presence in the area [5][6]. - The Mentougou site acquisition by PowerChina Real Estate continues its strategic expansion in the region, building on previous successful projects [6]. Group 4: Future Outlook - The ongoing land supply expansion is expected to create a multi-tiered and differentiated market in Beijing, with core areas maintaining high demand while peripheral areas offer more competitive pricing [6][8]. - The easing of housing policies and the focus on quality housing are anticipated to stimulate demand, particularly in well-located and high-quality projects [10].

Core Viewpoint - The Beijing real estate market is experiencing a surge in supply and sales activity during the traditional peak season of September, driven by favorable seasonal conditions and supportive policies [1][9][11]. Supply and Demand Dynamics - In September, the Beijing Municipal Commission of Housing and Urban-Rural Development issued 25 pre-sale permits for 22 real estate projects, providing nearly 6,000 housing units [1][6]. - A significant supply peak occurred on September 13, with five projects obtaining pre-sale permits, releasing 1,943 units, which accounted for over 30% of the month's total supply [1][7]. Project Performance - Notable projects include Beijing Jian Gong Jia Tang Yun Xi, which achieved a 95% sales rate on its opening day, and Zhong Jian Yun He Jiu Yuan, which had a 52.75% sales rate with an average price of approximately 61,500 CNY per square meter [3][4]. - The sales strategies employed include "one-stop" services to streamline the purchasing process, significantly enhancing signing efficiency [5]. Regional Supply Distribution - The new projects are distributed across ten districts, with Chaoyang leading in project numbers (6 projects) and total supply (1,653 units), followed by Fengtai (4 projects, 757 units) and Tongzhou (2 projects, 844 units) [6][8]. - The total new housing supply in September exceeded the combined totals of July and August, indicating a robust market response [6]. Market Outlook - The market is expected to maintain its positive momentum, with analysts predicting an increase in transaction volumes for both September and October, supported by the introduction of quality projects in prime locations [10][11]. - Recent policy adjustments and a more lenient credit environment have stimulated reasonable housing demand, contributing to a positive feedback loop in market confidence [11].

Core Insights - The 2025 China International Service Trade Fair highlighted the concept of "Good Housing," emphasizing the need for a balance between green, smart, and comfortable living environments [1] - The shift in consumer expectations from merely having a house to seeking quality living spaces reflects a broader trend in the housing market [1] Group 1: Industry Trends - The traditional housing model focusing on construction over quality is becoming inadequate, necessitating innovative solutions to meet evolving market demands [1] - The integration of technology and sustainable practices is crucial for developing high-quality living spaces, as demonstrated by various projects showcased at the fair [2][3] Group 2: Company Initiatives - China State Construction Engineering Corporation (CSCEC) showcased its "Good House, Good Community, Good City" framework, presenting comprehensive solutions for urban living [1] - The "One Core and Four Chips" technology system developed by CSCEC emphasizes livability, sustainability, intelligence, and health across the entire lifecycle of housing projects [1] Group 3: Project Highlights - The "Zhongjian·Yunhe Jiuyuan" project in Beijing integrates local cultural elements and modern design, featuring a unique homecoming system and extensive green spaces [2] - The "Zhongjian·Jiu Shang Lang Chen" project in Shanghai has been recognized as a zero-carbon community, showcasing advancements in sustainable urban living [3] - The "Future Fangzhou" project in Guangzhou combines historical preservation with digital industry development, aiming to create a vibrant cultural and residential area [4] Group 4: Future Directions - CSCEC plans to continue leveraging technological innovation to meet national dual carbon goals and contribute to high-quality urban development [4]