China's property market gains on policies, promotions

China's real estate market is picking up as customer traffic rises steadily at new projects thanks to favorable policies and robust promotions from developers.

The National Bureau of Statistics recently released data on residential property price changes across 70 major cities in September.

The figures show that residential property prices in these cities declined month on month, while the year-on-year decline continued to narrow.

Property developers have recently become more proactive in offering promotions and discounts. Combined with recent real estate policies, this has further alleviated the prolonged downward pressure on the housing market.

In Beijing, customer traffic saw a noticeable increase during weekdays.

At one project located outside the fifth ring road, sales representatives reported strong foot traffic since the launch of their project at the end of September.

This trend extends beyond Beijing.

Recent implementation of favorable policies nationwide has visibly revitalized the new home market.

In Wuhan, capital of central China's Hubei Provine, multiple projects highlighted quality houses as the key market driver, with some selling out immediately upon launch.

In south China's Guangdong Province, developers have sped up new project launches since October, emphasizing premium houses in promotions while enhancing sales incentives.

"We've also increased the incentives for home purchases, which provides favorable stimulus for buyers acquiring commercial properties," said Wang Yiyong, sales manager of a Shenzhen real estate project.

Besides more aggressive promotions and marketing, some cities have recently refined their policies further, using housing trade-in initiatives to invigorate the market.

In Liaocheng City in east China's Shandong Province, Shanghai's Minhang District and Zhuji City in east China's Zhejiang Province, such initiatives have given local property markets a strong shot in the arm.

"The trade-in initiative for commercial housing is very popular with the residents. The first two phases of our project attracted 1,023 households to sign up, successfully driving sales of 483 new commercial residential units with a total transaction value of 1.12 billion yuan (about 157.27 million U.S. dollars)," said Xu Lingfei, deputy manager of a real estate company in Zhuji.

China's property market gains on policies, promotions

Malaysia's durian-themed restaurants are booming as record numbers of durian lovers are flocking to the country, eager to sample what many consider the world's best varieties of the pungent fruit.

Often described as a fruit people either love or hate, durian has long been a favorite among many Chinese visitors as well.

New outlets have sprung up across Kuala Lumpur and Penang, branding themselves as restaurants but serving little beyond durian in different forms, from fresh fruit to ice cream, cream puffs, milkshakes and even deep-fried versions.

"We opened this place nearly a year ago, and our customers come from all over the world," said Ophelia Ng, branch director of Laifa in Petaling Street in Kuala Lumpur, capital of Malaysia.

Visitors said the draw was the wide range of durian varieties on offer.

"My friend is from Singapore, and this friend is from Indonesia. So we are here to try out different varieties of durian. I think there is different flavors, [some are] a little bit bitter, some are sweeter or creamier, yes, so that's why we are trying it out first before we order the big one," said Wen Ni, a Malaysian durian lover.

Some tourists, however, found the taste less appealing.

"I'm not sure if I like it. I don't really like it. It's not really good," said a tourist from Austria.

For Chinese tourists, sampling Malaysia’s finest durian remains an essential experience.

"When you come to Malaysia, you can't afford to miss the best durian. The finest varieties are Musang King and Black Thorn. It's best to enjoy them in a restaurant, where you can eat comfortably in a cool, air-conditioned setting. The durian is delicious, and relaxing here while savoring the fruit is the best experience," said Zhao Bin, a tourist from Guangzhou, capital city of south China's Guangdong Province.

With durians banned from hotels and public transport, restaurants offering air-conditioned comfort have become the preferred way for tourists to enjoy Malaysia's most divisive fruit.

Malaysia's durian restaurants thrive amid booming demand