Golden October in Guangzhou: Buy a House, Get Gold

Property developers offered 5% off parking spots, 15 years of management fees and gold bars as an incentive to buy homes during the week-long national holiday that ends on Tuesday. Sales were very weak in the days leading up to the holiday: transactions were down 40%, but prices were up almost 20% over last year in the small sample. Insiders said the weak data does not reflect bad sales during the holiday. iFeng: 广州有楼盘已开始认贷不认房 开发商积极促销优惠

According to this next article also covering the Guangzhou market, holiday sales may not show up in statistics until November because of a lag in mortgage approval. Buyers want to capture cheaper rates, but banks haven't cut rates yes. Developers and buyers are holding off on finalizing the contracts until rates are cut. 黄金周前三日广州网签跌近半 成交均价上升近两成

Finally, Guangzhou land prices are up 240% since 2012 and land now account for 50% of new property costs. 广州地价3年上涨2.4倍 地价成本占房价近五成