Mainland real estate stocks in the Hong Kong stock market continued their strong performance after the opening today, soaring collectively once again,$SHIMAO GROUP (00813.HK)$up 52.25%, at 1.69 Hong Kong dollars;$AGILE GROUP (03383.HK)$ up 49.33%, at 1.12 Hong Kong dollars; $CIFI HOLD GP (00884.HK)$up 43.82%, at 0.64 Hong Kong dollars;$SINO-OCEAN GP (03377.HK)$Rising by 40.98%, trading at 0.43 Hong Kong dollars; $SUNAC (01918.HK)$Rising by 39.49%, trading at 3.66 Hong Kong dollars; $R&F PROPERTIES (02777.HK)$Rising by 36.49%, trading at 2.02 Hong Kong dollars.

On the news front, following Shanghai, Guangzhou, and Shenzhen, Peking also announced a major new real estate policy. On the evening of September 30, the Beijing Municipal Commission of Housing and Urban-Rural Development and 5 other departments jointly issued the "Notice on Further Optimizing and Adjusting the City's Real Estate Related Policies", proposing to shorten the years of social security or individual income tax payment required for non-Beijing households to purchase houses. Among them, for non-Beijing households purchasing homes within the fifth ring road, the number of years for social security or individual income tax payment is reduced from 5 years to 3 years; those who have been paying social security or income tax continuously for 2 years or more can purchase homes outside the fifth ring road. The notice will take effect from October 1, 2024.

Yang Kewei, Deputy General Manager of the China Real Estate Research Center, believes that due to frequent favorable policies from the central government to localities at the end of September, starting with the press conference held by the State Council Information Office on September 24 announcing multiple significant policies, followed by the Central Political Bureau meeting setting the tone to promote the stabilization of the real estate market, and then the continuous optimization of the "four limits" policies in first-tier cities. Based on the expected policy positive outlook, overall transactions in October may stabilize after the downtrend, with first-tier cities as direct beneficiaries of the new policies still having room for increased new home transactions.

Editor/Lambor