New Home Trading Volume Slightly Up During Chinese New Year Holiday YoY

【Trading Volume of New Homes During Chinese New Year Holiday Increased Slightly YoY】

During this year's Chinese New Year holiday, the average daily online signed transaction area of new homes in 28 representative cities monitored by institutions increased slightly YoY, with the activity level of the property market in some cities improving. Meanwhile, many local governments and real estate enterprises launched home-buying campaigns, driving a surge in hometown property purchases. Industry insiders predict that the market's online signed transaction volume will rebound after the holiday, with a potential "mini spring" in the market.

On February 5, according to data from the China Index Academy, a third-party research institution, during the Chinese New Year holiday period (January 28 to February 4), the average daily online signed transaction area of new homes in 28 representative cities increased by 8% compared to the same holiday period last year (February 10 to February 17). Among first-tier cities, Guangzhou's new home online signed transaction volume increased by 47% YoY, while Beijing saw a slight increase of 5% YoY. Among second-tier cities, Chengdu's market activity was relatively high, and due to a low base, its online signed transaction volume grew significantly compared to last year's holiday. Cities such as Nanjing, Nanchang, and Wuhan also recorded notable increases.