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in august 2024, among the 70 large and medium-sized cities, the sales prices of commercial housing in all types of cities decreased month-on-month, and the year-on-year decline generally expanded slightly. among them, the sales prices of newly built commercial housing in first-tier cities narrowed their month-on-month decline, and the year-on-year decline remained the same as the previous month.

1. the sales price of commercial housing decreased month-on-month

in august, the sales price of newly built commercial housing in first-tier cities fell by 0.3% month-on-month, a decrease of 0.2 percentage points from the previous month. among them, beijing, guangzhou and shenzhen fell by 0.5%, 0.5% and 0.8% respectively, and shanghai rose by 0.6%. the sales price of newly built commercial housing in second- and third-tier cities fell by 0.7% and 0.8% month-on-month respectively, and the decline widened by 0.1 percentage points from the previous month.

in august, second-hand housing prices in first-tier cities fell by 0.9% month-on-month, a 0.4 percentage point drop from the previous month, with beijing, shanghai, guangzhou and shenzhen falling by 1.0%, 0.6%, 0.7% and 1.3% respectively. second- and third-tier cities' second-hand housing prices fell by 1.0% and 0.9% month-on-month, 0.2 and 0.1 percentage points more than the previous month.

ii. the year-on-year decline in commodity housing sales prices has generally slightly widened

in august, the sales price of newly built commercial housing in first-tier cities fell by 4.2% year-on-year, the same as the previous month. among them, beijing, guangzhou and shenzhen fell by 3.6%, 10.1% and 8.2% respectively, and shanghai rose by 4.9%. the sales price of newly built commercial housing in second- and third-tier cities fell by 5.3% and 6.2% year-on-year respectively, and the decline widened by 0.5 and 0.4 percentage points respectively from the previous month.

in august, second-hand housing prices in first-tier cities fell 9.4% year-on-year, a 0.6 percentage point increase from the previous month, with beijing, shanghai, guangzhou and shenzhen falling 8.5%, 5.8%, 12.5% ​​and 10.8% respectively. second- and third-tier cities' second-hand housing prices fell 8.6% and 8.5% year-on-year, respectively, both 0.4 percentage points higher than the previous month.

notes:

statistics of real estate prices in 70 large and medium-sized cities are divided into first-, second- and third-tier cities: first-tier cities refer to four cities, namely beijing, shanghai, guangzhou and shenzhen; second-tier cities refer to 31 cities, namely tianjin, shijiazhuang, taiyuan, hohhot, shenyang, dalian, changchun, harbin, nanjing, hangzhou, ningbo, hefei, fuzhou, xiamen, nanchang, jinan, qingdao, zhengzhou, wuhan, changsha, nanning, haikou, chongqing, chengdu, guiyang, kunming, xi'an, lanzhou, xining, yinchuan and urumqi; third-tier cities refer to 35 cities, namely tangshan, qinhuangdao, baotou, dandong, jinzhou, jilin, mudanjiang, wuxi, xuzhou, yangzhou, wenzhou, jinhua, bengbu, anqing, quanzhou, jiujiang, ganzhou, yantai, jining, luoyang, pingdingshan, yichang, xiangyang, yueyang, changde, shaoguan, zhanjiang, huizhou, guilin, beihai, sanya, luzhou, nanchong, zunyi and dali.

(source: national bureau of statistics website)