Guangzhou Property Market Activity Surges in May, Transactions Up Over 30% Since April Stimulus

GateNews
According to Guangzhou's municipal government, on May 26, the city released supporting policy documents following its April real estate stimulus measures (the "Guangzhou Eight Provisions"). Market activity accelerated in May, with primary property showroom visits up 26.9% week-over-week, purchase intentions up 36.9%, and new online transaction volume up 11.4%. Secondary housing weekly transaction volume increased 9.3% while new listing volume declined 16.7% year-over-year. Housing fund loans also surged, with 4,484 applications totaling 47.46 billion yuan, representing year-over-year growth of 47.05% and 56.43% respectively.
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