Homebuyers inquire at a property sales office. (Photo/Zhang Zhongren)
Chongqing - New data show that during the 2026 Spring Festival holiday, China’s real estate market outperformed typical off-season expectations. In Chongqing, a key city in western China, residential property transactions rose 7.27% year on year over the period.
During the holiday, sales offices in areas such as the Shapingba Xiyong saw a steady rise in foot traffic starting on the fourth day of the holiday. The sales office manager reported that the number of visitors this year increased by nearly 40% compared to the same period last year. Most of the customers were Chongqing natives working elsewhere who returned home for the holidays, with a strong focus on purchasing property.
An official from the Chongqing Housing and Urban Rural Construction Commission explained that the market recovery is mainly due to the implementation of several key policies. Chongqing took the lead in the country by integrating and announcing 22 real estate policy measures all at once, forming a comprehensive policy system covering supply, demand, expectations, and both new and existing properties.
Chongqing also launched joint initiatives between the government, enterprises, and associations for spring property promotions, implementing the real estate promotional activities. Over 40 promotional events were held in the city, boosting market activity.
Alongside the rise in transaction volume, the market structure continues to improve. Data shows that during the Spring Festival, the share of high-quality "good homes" sold in Chongqing reached 28%. With major changes in supply and demand in the real estate market, residents’ housing needs are shifting from "having a home" to "living in a good home."
March and April are traditionally a peak season for real estate sales in China. These two months follow the Spring Festival holiday, when residents return to the cities, leading to a surge in home-viewing and buying demand.
It is also the time when home-buying plans for the year are typically finalized, with property developers increasing their efforts to launch new projects and offer promotions. This results in a rise in market transactions, marking the first major transaction peak of the year.
According to China National Radio, Cao Jingjing, general manager of the Index Research Department at the China Index Academy, said many developers kept sales offices open during the Spring Festival and launched early promotions to build a pipeline of buyers for March and April.
As the holiday season concludes, the market gradually returns to normal. Cao added that as holiday factors gradually fade, real estate markets in key cities are expected to experience a mild recovery, with pent-up housing demand from the Spring Festival gradually being released.
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