According to data released by the National Bureau of Statistics on the 19th, in January 2025, among the 70 large and medium-sized cities, the sales prices of commercial housing in first-tier cities continued to rise month-on-month, and second- and third-tier cities generally decreased slightly month-on-month; The year-on-year decline in first-, second- and third-tier cities continued to narrow.


The sales price of commercial housing in first-tier cities continued to rise month-on-month, while the second- and third-tier cities generally decreased slightly month-on-month
In January, the sales price of newly built commercial residential buildings in first-tier cities rose by 0.1% month-on-month, down 0.1 percentage points from the previous month. Among them, Beijing fell by 0.4%, Guangzhou was flat, Shanghai and Shenzhen rose by 0.6% and 0.2%, respectively. The sales price of second-hand residential buildings in first-tier cities increased by 0.1% month-on-month, down 0.2 percentage points from the previous month. Among them, Beijing, Shanghai and Shenzhen rose by 0.1%, 0.4% and 0.4% respectively, while Guangzhou decreased by 0.2%.
In January, the sales price of newly built commercial residential buildings in second-tier cities rose by 0.1% month-on-month from the same level in the previous month, rising for the first time since June 2023. Second-hand homes fell 0.3% month-on-month, the same decline as the previous month. The sales prices of newly built commercial residential buildings and second-hand residential buildings in third-tier cities fell by 0.2% and 0.4% month-on-month, respectively, the same rate of decline as the previous month.
In January, among the 70 large and medium-sized cities, there were 24 cities with month-on-month increases in the sales prices of newly built commercial residential buildings, an increase of 1 from the previous month; There were 7 cities with a month-on-month increase in second-hand housing, a decrease of 2 from the previous month.
The year-on-year decline in the sales prices of commercial residential buildings in first-, second- and third-tier cities continued to narrow
In January, the sales price of newly built commercial residential buildings in first-tier cities fell by 3.4% year-on-year, 0.4 percentage points narrower than the previous month. Among them, Beijing, Guangzhou and Shenzhen fell by 5.7%, 8.4% and 5.2% respectively, and Shanghai rose by 5.6%. Second-hand residential sales prices in first-tier cities fell by 5.6% year-on-year, 1.1 percentage points narrower than the previous month, of which Beijing, Shanghai, Guangzhou and Shenzhen fell by 3.8%, 2.3%, 10.0% and 6.1% respectively.
In January, the sales prices of newly built commercial residential buildings in second-tier cities fell by 5.0% year-on-year, a decrease of 0.4 percentage points from the previous month, while the sales prices of second-hand residential buildings decreased by 7.6% year-on-year, a decrease of 0.3 percentage points from the previous month. The sales prices of newly built commercial residential buildings and second-hand residential buildings in third-tier cities fell by 6.0% and 8.2% year-on-year respectively, both of which were 0.2 percentage points narrower than the previous month.