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Beijing Business Daily (Reporter Wang Yinhao Li Han) On August 15, the National Bureau of Statistics released the changes in the sales prices of commercial housing in 70 large and medium-sized cities in July 2024, showing that in July 2024, the year-on-year decline in commercial housing sales prices generally expanded slightly, among which the year-on-year decline in second-hand housing sales prices in first-tier cities continued to narrow.

In July 2024, the sales price of newly built commercial housing in first-tier cities fell by 4.2% year-on-year, an increase of 0.5 percentage points from the previous month. Among them, Beijing, Guangzhou and Shenzhen fell by 3.3%, 9.9% and 8.0% respectively, and Shanghai rose by 4.4%. The sales prices of newly built commercial housing in second- and third-tier cities fell by 4.8% and 5.8% year-on-year, respectively, an increase of 0.3 and 0.4 percentage points from the previous month.

In July 2024, second-hand residential sales prices in first-tier cities fell by 8.8% year-on-year, a decrease of 0.2 percentage points from the previous month. Beijing, Shanghai, Guangzhou and Shenzhen fell by 7.2%, 5.6%, 12.4% and 9.8% respectively. Second- and third-tier cities' second-hand residential sales prices fell by 8.2% and 8.1% year-on-year, respectively, a decrease of 0.3 and 0.4 percentage points from the previous month.