Official data released by the National Bureau of Statistics of China yesterday showed that the pace of decline of housing prices in 70 large and medium-sized Chinese cities continued to shrink year-on-year in July.
According to the data, new housing prices in China's four first-tier cities, namely Beijing, Shanghai, Guangzhou and Guangzhou, continued to decline in July.
According to the data, new housing prices in the four first-tier cities of Beijing, Shanghai, Guangzhou and Shenzhen fell by 1.1% in July, compared with 2024, with the pace of decline slowing by 0.3 percentage points from June.
The Commission said: "Shanghai, the country's economic center, recorded a 6.1% year-on-year increase in new home prices last month."
Second- and third-tier cities saw new housing prices fall by 2.8% and 4.2% year-on-year in July, with the pace of decline slowing by 0.2 and 0.4 percentage points, respectively.
Month-on-month, Shanghai, the country's economic center, recorded a 6.1% year-on-year increase in new housing prices last month. On a monthly basis, the authority's data showed that new home prices in the four first-tier cities fell by 0.2%, compared with June, while second- and third-tier cities saw new home prices fall by 0.4% and 0.3%, respectively.
On a monthly basis, the authority's data showed that new home prices in the four first-tier cities fell by 0.4% and 0.3%, respectively.
