Major Chinese cities report narrowed home price declines in August

BEIJING, Sept. 15 (Xinhua) -- Major Chinese cities continued to report narrowed year-on-year declines in overall home prices in August, official data showed Tuesday.

A drone photo taken on Nov 1, 2025, shows a view of Shenzhen Bay Culture Square in Shenzhen, South China's Guangdong province. (Photo: Xinhua)

In the first-tier cities of Beijing, Shanghai, Guangzhou and Shenzhen, new home prices fell 0.9 percent year on year, 0.2 percentage points narrower than the previous month, according to data released by the National Bureau of Statistics (NBS).

Second-hand home prices in the four cities dropped 2.7 percent year on year overall, with the decline narrowing from 3.7 percent in July.

As to second- and third-tier cities, price declines in both new and second-hand homes moderated compared with July.

On a monthly basis, home prices in first-tier cities rose in August, while second- and third-tier cities generally registered narrowed declines.

Among 70 large and medium-sized cities tracked, 21 recorded flat or rising new home prices month on month in August, two fewer than the previous month. Eight cities saw flat or rising second-hand home prices, unchanged from July.

The NBS releases a monthly home price report tracking market changes in 70 major cities, including four first-tier cities, 31 second-tier cities and 35 third-tier cities.