On April 28, Alibaba's asset platform released its "Q1 2026 Residential Property Transaction Report." Data indicates that during the first quarter of 2026, residential property transactions on the platform demonstrated growth in both volume and value. The number of units sold exceeded 33,000, reaching a historic high for any first quarter in the past three years.
The report reveals that the number of residential properties sold on Alibaba's asset platform in Q1 2026 increased significantly by 23.8% compared to Q1 2025 and by over 36% compared to the same period in 2024. Alongside the rise in transaction volume, the total transaction value also saw corresponding growth. Data suggests that online property auctions have achieved scale effects—the number of bidders for residential properties on the platform in Q1 surpassed 120,000, a year-on-year increase of over 16%, marking the third consecutive year of double-digit growth.
Geographically, housing demand has concentrated in core regions with strong economic fundamentals and industrial support. Among provinces, the three major economic powerhouses—Zhejiang, Guangdong, and Jiangsu—ranked highest in terms of property transaction scale, collectively accounting for nearly 40% of the national transaction volume and over half of the total transaction value. At the city level, Shanghai, Shenzhen, and Beijing led in terms of average price per unit. Hangzhou recorded nearly 1,000 transactions, ranking first in total transaction value, characterized by high-end properties driving price increases while affordable housing saw high volume. Sanya and Haikou made the list due to their high per-unit prices for vacation homes. Xiamen, Guangzhou, Nanjing, and Tianjin followed, collectively forming the top ten cities.
Chengdu, Chongqing, and Weihai were the top three cities by number of units transacted. Among them, Chongqing (over 1,700 units) and Chengdu (over 1,100 units), with their affordable average prices (approximately 950,000 to 1.15 million yuan per unit), became the preferred choices for first-time homebuyers and those seeking upgrades. Notably, Weihai broke into the top three with over 1,000 units sold, and it recorded the highest average number of bids per property nationwide, exceeding 97.
Additionally, the luxury home market, defined by properties with starting prices above 10 million yuan, showed significant signs of recovery in March. Data indicates that the luxury market maintained a stable base of interest in Q1, with cumulative page views exceeding 3.17 million. In March, page views for luxury properties surged 59% compared to February, while the number of bidders increased sharply by 88% month-over-month. Beijing, Shanghai, Shenzhen, and Hangzhou formed the "first tier" of luxury property transactions, demonstrating a high concentration of core assets.