Chongqing - From January to October, the transaction volume of new and second-hand homes in key Chinese cities, including Beijing and Chongqing, held steady at 274 million square meters, showing minimal change from last year and indicating market stabilization, according to CRIC, China’s largest real estate database.
As one of China’s leading second-tier cities, Chongqing has shown positive momentum in its real estate market. According to the Chongqing Municipal Commission of Housing and Urban-Rural Development, transactions of both new and second-hand homes in the central urban area rose 6.7%, marking ten consecutive months of growth. This recovery reflects ongoing efforts to improve housing quality and streamline the second-hand market.
Data from the commission show that 25 “high-quality” residential projects in central Chongqing have an average sales absorption rate of more than 50%, with some scarce, well-located projects exceeding 90%.
The fastest-selling properties now feature vertical greenery, smart home systems, and more spacious interiors, meeting buyers’ demand for upgraded living conditions. As a result, these homes command higher average transaction prices than standard properties and have become a stabilizing force in the market.
Nationally, from January to October 2025, several cities recorded year-on-year increases of more than 10% in second-hand home transactions, including Chongqing, underscoring its dynamic second-hand market.
To support the exchange of second-hand housing, Chongqing has extended its targeted subsidy policies into 2025. In the city’s central districts, residents who sell their old homes and purchase new ones within a year can receive a 1% subsidy on the price of the new property. This initiative has helped lower the cost for households looking to upgrade.
A local real estate agent noted, “With the same budget, second-hand homes offer more options and are often more competitively priced.” Many second-hand properties have undergone multiple price adjustments, creating a notable price gap with new homes in the same areas. This has attracted many first-time buyers to the second-hand market.
Industry experts believe the active second-hand home market has also provided support to the new home sector. Since second-hand properties generally have shorter transaction cycles and higher turnover rates, many homeowners who sell their old homes quickly unlock funds, which then flow into the new home market, further fueling demand.