Global investment banks, including Goldman Sachs and Citi, anticipate a turnaround in China's real estate sector as early as 2027, citing signs of shrinking supply and strong sales during the National Day holiday. This projection comes as the Chinese property market enters its fifth year of downturn. Citi identifies 2027 as a pivotal year for property price recovery in Beijing, Shanghai, and Shenzhen, noting that Chinese home prices bottomed out in June 2024, with Shanghai's second-hand home prices rising 0.8% year-on-year in September. Goldman Sachs expects the supply of new homes available for sale in China to sharply decrease in 2028, driven by the new sales model introduced by the Chinese government on August 28, and potentially continue to fall significantly in the coming years.