Fault-line lead! In the first two months, Chengdu's new home transaction area has already exceeded one million square meters. Industry experts expect a significant seasonal rebound in March.

Two months into 2026, Chengdu’s real estate market has already quietly exploded.

According to CRIC data, in the first two months of 2026, Chengdu’s new commercial residential transaction area reached 1.133 million square meters, the highest among the top 50 cities nationwide, surpassing Xi’an’s 414,000 square meters by a wide margin, leading by a “breakthrough” margin. During the same period, Chengdu’s second-hand housing transactions totaled 3.236 million square meters, an 18% year-on-year increase.

In fact, since 2020, Chengdu’s commercial residential transaction volume has ranked first nationwide for six consecutive years, and the second-hand market has also continued to expand, forming a stable overall market for both new and second-hand properties.

Breakthrough Leading

On March 7, the Yuexiu Tianyue Yun Cui III demonstration area in Chenghua District, Chengdu, opened to the public.

A reporter from Daily Economic News (hereinafter referred to as “the reporter”) observed on-site that despite the rain that day, the sales office was still crowded with visitors.

According to a sales consultant, the project will launch a full range of products with building areas of approximately 117 to 139 square meters. Currently, registration is underway, and there will be various discounts at the opening. Yuexiu Chengdu disclosed that on the first day of opening, the project received over 1,000 visitors.

On the same day, the demonstration area of Dongcheng Jincheng Jintang Phase III also attracted many homebuyers. The reporter learned that in May 2025, Phase I of Dongcheng Jincheng Xiaotang was officially launched, and by September of that year, it had sold 808 units with a “ten open, ten sold out” record; subsequently, Phase II was launched, including showrooms, and all units were sold by February this year.

A poster from Jincheng Chengdu shows that as of March 3, the combined sales of Phases I and II reached nearly 1,900 units. “The new Phase III products are an iteration based on the previous phases, covering approximately 110–119 square meters and 128–168 square meters. The demonstration area opened today (March 7), and deposit freezing started with an amount of 100,000 yuan,” they revealed. Only customers who freeze deposits can participate in the first opening, with the first 300 customers enjoying a 5% discount.

Additionally, Chengdu Longfor introduced that in the core area of Wanhua City on the East Second Ring Road, Binjiang Fengcui, with a building area of about 126 square meters comparable to 140 square meters, and 140 square meters comparable to 170 square meters, attracted over 1,200 groups of visitors and industry peers within a week of opening the real scene demonstration area. The project is expected to open soon. Located east of Panzhihua Steel, Jinjiang Fengcui caters to family improvement needs, launching new four-bedroom products with building areas of approximately 126–140 square meters.

Since the beginning of 2026, Chengdu’s real estate market has continued to lead nationwide in popularity.

According to CRIC monitoring, despite the seasonal decline in new supply and transactions caused by the Spring Festival holiday, Chengdu’s transaction volume still leads—42,200 square meters in February, ranking first among the top 50 cities; the total transaction area for the first two months was 1.133 million square meters, the only city among the top 50 with over 1 million square meters in transactions, surpassing Xi’an by 414,000 square meters, a “breakthrough” lead.

For second-hand homes, Chengdu’s transaction area in February alone reached 1.082 million square meters; cumulatively, the first two months totaled 3.236 million square meters, significantly higher than other cities, with an 18% year-on-year increase.

“Chengdu’s strong growth in the real estate market is inseparable from its economic growth, population inflow, and supportive policies and market environment,” said Ding Zuyue, Chairman of CRIC Group. On one hand, Chengdu, as the economic, financial, technological, and cultural center of Southwest China, has experienced rapid economic development in recent years, providing a solid economic foundation for the housing market. On the other hand, Chengdu’s rich higher education resources and the “Chengdu Talent New Policy 12 Measures” attract many college graduates to stay, providing a population base for the market.

Yen Yuejin, Vice President of the Shanghai E-House Research Institute, also told the Daily Economic News that this is directly related to city size—“especially the large number of young people, which drives higher demand for home purchases. Meanwhile, among similar cities, Chengdu’s actual housing price-to-value ratio is the highest, objectively supporting transaction volumes for both new and second-hand homes.”

New Home Prices Rise Against the Trend

Notably, the average transaction price of new homes in Chengdu is also rising against the trend.

According to CRIC Sichuan monitoring, in February, the average price of new homes in Chengdu increased by 7.07% month-on-month to 19,083 yuan per square meter, with an average transaction price of 2.6 million yuan, up 10.14% month-on-month. “Behind this price trend is the relatively increased proportion of high-end improvement-type products, reflecting that the price center of Chengdu’s new home market remains resilient.”

From the distribution of transactions across price segments, the 12,000–14,000 yuan per square meter range had the most units sold, totaling 345 units and covering 44,700 square meters, making it the largest price segment in February; the second is the 6,000–10,000 yuan per square meter range.

In the high-end market, transactions above 30,000 yuan per square meter still have a certain volume. Among them, 115 units were sold in the 30,000–35,000 yuan range; 35 units above 60,000 yuan per square meter, with an average price reaching 22.58 million yuan per unit.

However, the overall market for commercial residential properties in Chengdu has seen supply less than transactions for three consecutive years.

Prudential Digital Sichuan monitoring shows that as of December 31, 2025, the stock area in Greater Chengdu was 14.1 million square meters, with a flow rate over the past 12 months indicating a clearance cycle of 14.43 months. The “5+2” central urban area has a stock of 4.3 million square meters, with a clearance cycle of only 10.1 months based on recent flow.

“A good supply-demand relationship is conducive to stable market development,” Ding Zuyue said. The less-than-one-year supply-demand balance in the “5+2” central urban area has also led to continuous price increases over many years, with residential transaction prices in the area rising 4.9% year-on-year in 2025, and the average total price surpassing 4 million yuan.

Entering March, Chengdu’s new home market is poised for further growth. According to incomplete statistics, in March, Chengdu is expected to have about 30 projects obtaining pre-sale permits, offering over 2,300 units, including high-quality projects such as Jincheng Court Phase III·Guan Zhu and Ao Nan·Jin Guan Xu, with product types covering high-rise, small high-rise,洋房, courtyard houses, and stacked villas.

Meanwhile, Chengdu’s land market has also shown strong sincerity. The recently released “Jinniu District 2026 Land Resource Investment Guide” features 33 plots totaling about 1,801 acres, including some core location sites, with “reduced floor area ratio” becoming a mainstream trend, with the lowest ratio at only 1.01, reaching villa standards and attracting attention.

According to CRIC Sichuan, the search interest for new and second-hand homes in Chengdu surged significantly in the first two months, providing an early indicator for the rebound in March transactions. “With accelerated new project launches, high-quality land supply, and the steady recovery of second-hand transactions after the holiday, multiple positive factors are converging, and a noticeable seasonal rebound in Chengdu’s real estate market is expected in March.”