New home sales in the Greater Bay Area are projected to increase by 5% this year compared to 2023, influenced by enhanced transportation networks and more favorable housing policies, according to Cushman & Wakefield. The real estate firm anticipates approximately 400,000 new home transactions in 2024. Recent policy changes in Guangzhou and Shenzhen, such as lower down-payment ratios for first-time buyers and extended benefits, aim to boost market confidence and stabilize residential property prices in the first half of the year.
New home sales in the Greater Bay Area are projected to increase by 5% this year compared to 2023, influenced by enhanced transportation networks and more favorable housing policies, according to Cushman & Wakefield. The real estate firm anticipates
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