Positive changes in the real estate market are underway.
Since the government announced measures to “stabilize the downward trend in the real estate market” and “promote a new development model for real estate,” various relaxation policies have rapidly been implemented at both central and local levels. This “policy package” has effectively stimulated market recovery and renewed confidence.
With joint efforts from the government, financial institutions, and real estate companies, the housing market is experiencing a wave of warmth. Demand for housing is gradually being released, with increased foot traffic in showrooms translating into actual sales. Some developers have reported that their sales during the “Golden October” period have surpassed expectations.
The recent National Day holiday brought a surge of activity, especially for New World China, who saw multiple projects performing exceptionally well. The actual market performance indicates that buyers are regaining confidence, slowly converting it into purchasing power. During the recent holiday, a barrage of favorable policies and heightened promotional efforts from developers drew crowds to sales centers.
For instance, New World China’s project in Guangzhou saw nearly 10,000 visitors during the holiday, showcasing a vibrant atmosphere. The Guangzhou New World Tianfu project had overwhelming success on the first day, with an average of one unit sold every 30 seconds in the first 40 minutes, leading the area in both popularity and sales. Meanwhile, the Guangzhou New World Xinghui project experienced a staggering 675% increase in transactions compared to previous periods, and the Guangzhou Yaosheng New World project saw visitor numbers soar by 400%, with sales goals exceeded. The Guangzhou New World Kaiyue Bay project also reported a remarkable 200% surge in sales.
Notably, starting September 30, Guangzhou lifted all purchase restrictions for local households, leading to a significant rise in purchases from residents of Hong Kong, Macau, Taiwan, and foreign nationals—becoming a key feature in New World’s sales strategy.
“The market’s positive outlook following the new policies has clearly revitalized activity,” commented a sales consultant at New World Yaosheng Zunfu. “We’ve been busier than ever, often skipping lunch as we handle multiple clients simultaneously, working late into the evening.”
This reflects not just a snapshot of New World China’s various sales locations during the National Day holiday but also the results of meticulously planned product offerings, pricing strategies, and marketing approaches that emphasize high-quality product development.
According to statistics, New World China achieved a daily sales volume during the National Day Golden Week that was double that of last year’s holiday and 2.6 times greater than the Mid-Autumn Festival this year. Overall, the number of residential transactions during the seven-day holiday exceeded the total from September 2023.
In response to the ongoing sales momentum post-holiday, New World China has implemented marketing strategies to reach buyers who were traveling during the Golden Week and could not finalize their purchases. They have extended promotional offers for interested buyers and expedited the development of new products.
Ms. Huang Shaomei, Executive Director and CEO of New World China, noted that the consistent rollout of favorable policies has bolstered market confidence, shortening transaction cycles and significantly improving conversion rates. “With these positive trends, we are confident we can meet or even exceed our sales targets.”
Focusing on differentiation, New World China aims to capitalize on core areas and quickly benefit from the market’s revival. As the flagship property entity of New World Development in mainland China, New World China is among the earliest Hong Kong enterprises to enter the mainland market.
The company emphasizes a strategy of high-quality development, concentrating on prime assets in the Greater Bay Area and the Yangtze River Delta, which has made them a favored choice even amid industry challenges.
Currently, New World China holds approximately 3.721 million square meters of land reserves available for immediate development, with about 1.989 million square meters designated for residential use. Their key projects are primarily located in cities such as Guangzhou, Shenzhen, Foshan, Wuhan, Shanghai, Ningbo, Hangzhou, Beijing, and Shenyang, with around 58% situated in the Greater Bay Area and the Yangtze River Delta.
In addition, urban renewal initiatives provide New World with significant competitive differentiation. All seven urban renewal projects are located in the core areas of Shenzhen and Guangzhou and are expected to yield an additional 1.62 million square meters of high-quality land reserves.
Currently, the supply-demand relationship in China’s real estate market is undergoing significant evolution, balancing the need for both new and existing housing. This shift requires real estate companies to actively adapt to the new industry landscape.
A key trend is that with further urbanization and rising living standards, homebuyers are increasingly prioritizing housing quality, price transparency, and post-sale service.
For years, New World China has upheld its brand philosophy of “Renewing the City” and its development ethos of “Craftsmanship in City Building,” emphasizing architectural aesthetics and innovative housing design. With a strong reputation established in high-quality residential and large mixed-use developments, New World China continues to meet diverse improvement needs of residents while achieving sustained business growth.
Huang concluded, “In this complex and ever-changing market environment, we remain optimistic about China’s future development and will consistently pursue high-quality growth, contributing to the nation’s ongoing progress.”
