Core Insights - The Shanghai real estate market shows a clear divergence between new and second-hand housing markets, with new homes benefiting from policy incentives while second-hand homes experience a significant decline in transactions [1][8]. New Housing Market Performance - During the National Day holiday from October 1 to October 7, 2025, Shanghai's new housing market recorded 909 transactions, representing a 78.9% increase compared to the same period in 2024 [1]. - The top ten new housing projects included three priced above 100,000 yuan per square meter, indicating strong demand for high-end properties [3]. - The overall new housing sales in September 2025 reached 970,000 square meters, with a month-on-month increase of 23% and a year-on-year increase of 16% [5]. Second-Hand Housing Market Performance - In contrast, the second-hand housing market saw only 780 transactions during the same holiday period, marking a 63.7% decrease year-on-year [1][8]. - The average daily transaction rate for second-hand homes was only 111 units, significantly lower than the 2,133 units sold daily during the same period in 2024 [8]. Regional Market Dynamics - The Yangpu district emerged as the most active area for new housing transactions, driven by the introduction of new projects in high-demand locations [1]. - The suburban areas also showed resilience, with districts like Baoshan and Qingpu achieving notable sales figures, indicating a shift in buyer interest towards these regions [1]. Developer Strategies and Promotions - Developers are actively launching new projects and promotional campaigns to attract buyers, with companies like Poly and Longfor offering various incentives during the holiday period [6][7]. - The introduction of policies such as the "Shanghai Six" has stimulated the market, particularly in suburban areas, leading to increased confidence among developers [10]. Future Market Outlook - The upcoming "Silver October" period is expected to see more projects entering the market, with several high-profile developments scheduled for launch [12][14]. - Analysts predict that the overall real estate policies will continue to focus on stabilizing the market and supporting sales, with expectations for further policy enhancements in the fourth quarter [8][16].