The 2026 National Day Golden Week has ended, and the housing market has undergone its first real test following a series of policy measures.

In late August, three government departments including the Ministry of Housing and Urban-Rural Development deployed the rollout of completed-home sales for commodity housing, delivering a "what you see is what you get" and "handover with title certificate" experience.

At the end of September, three departments including the Ministry of Finance clarified that starting October 1, eligible first-home mortgages would receive an annualized 1 percentage point interest subsidy on the principal.

According to monitoring by the China Index Academy, during the holiday the transaction area of newly built homes in 25 key cities rose 33.8% year-on-year on a daily average basis, with improvement projects in core districts attracting considerable attention.

The focus of industry competition is shifting from price to quality, from being able to sell to being able to deliver.

Beyond the heat, what deserves more attention is the structure of transactions. Homebuyers are no longer chasing temporary discounts but are using their footsteps to find developers who can honor their commitments.

In recent years, the Ministry of Housing and Urban-Rural Development has systematically promoted the construction of good houses, good communities, good neighborhoods, and good urban districts, establishing residential quality as an industry threshold.

Writing policy into documents is only the first step. Whether that threshold can become a real home in people's hands depends on whether companies can rise to the occasion.

During this National Day holiday, projects of YUEXIU PROPERTY (00123) across Guangzhou, Beijing, Shanghai, Hangzhou, Chengdu, Shenzhen and other cities provided a set of observable benchmarks.

This Guangzhou state-owned enterprise, with over forty years of deep urban cultivation, has established a development strategy centered on good products, good services, good branding, and good teams.

Its "4×4 Good Product Philosophy" corresponds point by point with the good housing standards.

The high foot traffic at sales offices across various locations is the market's on-site score for this response.

A family from Paris decides to stay, as Guangzhou's coordinated urban development proves effective

A family long residing in Paris completed a purchase during the National Day holiday at YUEXIU Pazhou South TOD in the Pazhou area.

They had previously planned to sell their old home and buy a new one, having viewed multiple properties while remaining on the sidelines.

Ultimately moved by the life scene presented in actual finished form, they remarked that they "don't want to live in Rosewood anymore after coming back to Guangzhou."

What ended the customer's hesitation was the maturity of the district. YUEXIU has developed and operated Pazhou in a coordinated manner, with industrial, commercial, and educational facilities delivered ahead of residential units.

Guangzhou clarified on September 30 that newly transferred land projects would prioritize completed-home sales, and the market recognizes precisely this visible, tangible home-buying logic.

Similar judgments were scattered across multiple sales offices in Guangzhou.

A customer from Harbin who has worked in Guangzhou for four years and rented long-term completed a purchase in a single visit after viewing the lakefront residence at YUEXIU Guanyue.

At YUEXIU Yuejingtai, among the first batch of officially certified "good housing" projects, there were 786 visiting groups during the holiday. A faculty member from a Wushan university experienced the clubhouse and unit layouts, and with the trade-in service alleviating concerns about selling the old home, finalized on the spot.

Only when urban value is solidified do homes have confidence behind them.

In Guangzhou, areas with advance facilities and completed actual scenes are becoming the direction where buyers cast their votes with their feet.

In the first half of the year, the "Sui Eight Measures" ignited the trade-in chain, and by late September the completed-home sales direction was clear. Quality housing encouraged by policy is receiving its earliest market response here.

After comparing over ten projects, a savvy Beijing buyer makes a decision in one day at Chaoyang Puyue

During the National Day holiday, Beijing's new home market saw a clear volume increase.

According to monitoring by the China Index Academy, during the National Day period the daily average online signing volume of newly built commodity housing in Beijing rose 176% year-on-year, with improvement projects featuring high efficiency ratios, near-completed status, and subway proximity performing well.

Interest subsidy and other policy details were quickly implemented, improvement buyers entered the market in concentration, and visiting the entire city before deciding has become the market norm.

A 230-square-meter unit owner who transacted at YUEXIU Puyue during the holiday is a typical "savvy buyer."

He had previously compared over ten projects of similar caliber in areas such as Lize and Jiu Xianqiao. After visiting Puyue and verifying items one by one in the actual demonstration area and technology hall, he found the spatial scale, smart systems, and fine decoration details all exceeded expectations, and confirmed his purchase the same day, saying "after comparison, Puyue still wins my heart."

The trust of savvy buyers is not given easily unless every promise is laid out in the open.

As of National Day, Puyue's overall sell-through rate exceeded 80%, placing it in the top tier among Beijing luxury properties priced above 90,000 yuan per square meter, with holiday visits up 50% quarter-on-quarter.

Write the standards clearly and make the details solid, and even the most discerning customers will become the most steadfast buyers.

Loans disbursed only after completion filing, Shanghai families bring the whole household to the Tianyu sales office

This holiday, Shanghai buyers were doing a new calculation.

At the end of September, Shanghai issued detailed rules for completed-home sales, clarifying that new launch batches would have loans disbursed only after completion filing. Previously, buying a home meant bearing both rent and mortgage simultaneously; now there is no need to repay monthly installments before delivery. Combined with local trade-in subsidies, the pace of entering the market has clearly accelerated.

The other side of the changed calculation is foot traffic.

The marketing head of YUEXIU Tianyu introduced that in the early opening period, the sales office received a maximum of 680 visiting groups in a single day. During the National Day holiday, it hosted nearly 1,000 groups and established files for over 150 groups.

This project, which launched 147 units at the end of September and sold out on the first day, relied precisely on its physical demonstration area, with unit layouts, landscaping, and the extensive clubhouse all presented in actual finished form.

A trade-in family from Pudong brought their child for a second viewing before confirming intent. The park landscape of the elevated community and the two-units-per-floor layout perfectly accommodate three generations' daily life.

Another household of emerging industry professionals brought the whole family to view the property, and their child refused to leave the slide at the community playground.

Buying a home is a calculation spanning decades. Only when delivery has a basis and progress is visible will customers dare to put their family assets in.

When policy turns delivery certainty into a hard threshold, developers' comprehensive strength and full-cycle delivery capability are replacing single price factors as the core evaluation standard for Shanghai's improvement buyers.

The school opens first while the community waits, a Hangzhou family of three finalizes at 11 PM

"We were just passing by, but the child was having so much fun she didn't want to leave."

During the National Day holiday, Mr. Zhang's family, on their third visit to Xingman Herun in Linping District, finalized their new home at 11:42 PM.

The first visit, the whole family attended a community parent-child activity; the second, they carefully examined the landscaping and unit layouts; the third, they calculated the budget with subsidies and signed that evening.

According to project statistics, Xingman Herun received over 160 visiting groups during the holiday, a 91.8% increase over the September weekly average.

What kept Mr. Zhang's family coming back was a community already in operation.

Xingman Herun is jointly developed by Hangzhou Metro and YUEXIU PROPERTY. It has been fully delivered, with finely decorated completed homes available for immediate purchase and certification. Approximately 45,000 square meters of parkland is open in actual form, and the affiliated nine-year continuous school officially began classes on September 1.

What also drove the decision were tangible discounts. After the interest subsidy was implemented, Lin'an and Linping introduced 100,000 yuan housing purchase subsidies. During the holiday, visits to projects priced under 1.5 million yuan in Hangzhou increased noticeably, with first-time buyers leading the way.

Community delivery is not the endpoint but the starting point of operational services.

School opening, park access, and operating facilities — these details determine whether a community can truly retain people.

Hangzhou homebuyers voted with late-night decisions, entrusting their trust to those who put services first. This is precisely the watershed in the completed-home sales era, where developers transform from builders into life operators.

Behind six decisions, an industry shift from price to quality

This National Day holiday, home-buying stories across six cities presented the same decision logic.

A father of two in Chengdu who viewed homes at YUEXIU Tianyue Yuncui Phase III for two years raised his budget from 3.5 million yuan to 5 million yuan, just so his family of four could live comfortably.

A civil servant in Guangming, Shenzhen visited YUEXIU Xingke Yuanqi seven times before finalizing a 111-square-meter four-bedroom unit, for the simple reason that opening the window to greenery is good for the mood.

In an uncertain market, customers collectively chose certainty of delivery.

Market stratification is sending the same signal.

Yan Yuejin, vice president of the Shanghai E-House Real Estate Research Institute, believes that the completed-home sales reform anchors delivery expectations, loan interest subsidies ease monthly payment pressure, and combined with confidence recovery from stabilizing home prices, these three forces together form the foundation of this round of market activity, with buyers clearly accelerating their pace of entry.

Monitoring by the China Index Academy similarly shows that those receiving attention during the holiday were mostly projects with outstanding location and product advantages.

The significance of Golden Week goes beyond seven days of transactions. It is more like a declaration of industry transformation — the scale race has ended, and the quality race has just begun.

This new race has no shortcuts. Actual completed scenes, on-time delivery, and fulfilled facilities all rely on years of accumulation. Whoever delivers certainty to customers first will be the first to stabilize market confidence.

From national policy documents to a safe and comfortable home in ordinary people's hands, someone needs to build it brick by brick in between.

The final stroke of this answer lies in each tangible, reachable home.