In modern China, property ownership is often considered a prerequisite for marriage and a cornerstone of financial security. The journey to owning a home can involve the life savings of multiple generations of a family. 交房 is therefore not just a simple transaction; it's a monumental event. Comparison to “Closing” in the West: In Western cultures, particularly the US, the equivalent event is often called “closing.” However, there's a key difference in focus. “Closing” primarily emphasizes the legal and financial aspects: signing final documents, transferring funds, and the legal change of title. While getting the keys is the final step, the main event happens in an office. In contrast, 交房 is centered on the physical handover at the property site. It is almost always paired with 验房 (yànfáng), a detailed inspection by the new owner. This can be a high-stakes moment where the buyer scrutinizes every detail, from plumbing and electricity to wall paint and window seals. Because many properties are bought off-plan (期房, qīfáng), 交房 is the first time the owner sees the finished product. This can lead to disputes if the quality doesn't match the developer's promises, sometimes resulting in collective homeowner protests known as 维权 (wéiquán), or “defending rights.” The term 交房 thus carries a weight of expectation, relief, and potential conflict that “closing” doesn't fully capture.
交房 is a formal and specific term used exclusively in the context of real estate. You will encounter it constantly in conversations about buying property, in real estate news, and on developer advertisements.