Shanghai New Home Sales Double During National Day Holiday

The holiday spike is striking, but the more telling figure is September's broad-based gain across both new and second-hand segments, which suggests the momentum predates the holiday window rather than being purely seasonal. The six-year high in second-hand registrations matters because resale activity often reflects genuine end-user demand more than new-launch marketing pushes. Whether the new-home surge holds once holiday promotions lapse is the open question, and the second-hand trend is the cleaner read on underlying demand.