(Yicai) Oct. 9 -- The real estate market in China's four first-tier cities experienced a significant jump during the National Day holiday, also known as the Golden Week, thanks to favorable policies and investors shifting funds from the rebounding stock market to properties.

New home sales in Shenzhen surged ten-fold from a year earlier, according to data from real estate agency Centaline Property. Such sales made via You Jia International Holding's local branches surged 979 percent between Sept. 30 and Oct. 6 from a year ago, with around 600 units sold on Oct. 1, the Hong Kong-based firm noted.

In Guangzhou, 80 percent of new housing projects reported significant increases in visits and sales, with some seeing a more than 500 percent surge in daily sales. Shanghai's new home transactions doubled in the first six days of October from a year ago.

Deposit payments for new houses in Beijing doubled during this year's Golden Week compared with the holiday last year, according to the Beijing Real Estate Association. In addition, sales of pre-owned homes soared 2.6 times.

A Shenzhen-based property developer sold more than 200 units during the seven-day holiday this year, a significant jump in the daily average deals, which used to be about two to three units sold a day, a marketing executive of the company told Yicai.

Shenzhen's second-hand home sales soared nearly four-fold according to property data provider Leyoujia.Com, while Centaline Property reported that such transactions nearly tripled.

The real estate market revival follows supportive measures announced by People's Bank of China Governor Pan Gongsheng on Sept. 24. These include lowering mortgage rates by 0.5 percentage point to levels close to those for new loans and reducing the minimum down payment for second homes to 15 percent from 25 percent.

Shenzhen, Beijing, Shanghai, and Guangzhou subsequently introduced additional support policies, such as lifting resale restrictions and extending land value-added tax exemption periods.

Besides favorable policies, the recent stock market rally has also contributed to the property market rebound, according to industry insiders. The Shanghai Composite Index, Shenzhen Component Index, and ChiNext Index soared 27 percent, 42 percent, and 67 percent, respectively, between Sept. 24 and yesterday.

Editor: Martin Kadiev