According to the National Bureau of Statistics, in March 2025, the activity of the housing market transactions increased. Among the 70 large and medium-sized cities, the number of cities with month-on-month increase in sales prices of commercial housing increased; the sales prices of commercial housing in first-tier cities rose month-on-month increase, and the overall decline in second- and third-tier cities narrowed; the year-on-year decline in all tier cities continued to narrow.

01 The sales prices of commercial housing in first-tier cities rose month-on-month, while the overall decline in second- and third-tier cities narrowed month-on-month. In March, the sales prices of newly built commercial housing in first-tier cities rose 0.1% month-on-month, the same as last month. Among them, Shanghai and Shenzhen rose 0.7% and 0.1% respectively, while Beijing and Guangzhou fell 0.2% and 0.1% respectively. The sales prices of second-hand residential properties in first-tier cities changed from a month-on-month decrease of 0.1% to a 0.2% increase from a month-on-month decrease of 0.1%. Among them, Beijing, Shanghai and Shenzhen rose by 0.5%, 0.4% and 0.3% respectively, while Guangzhou fell by 0.2%.

In March, the sales prices of newly built commercial housing in second-tier cities remained the same month-on-month, the same as last month; second-hand housing fell by 0.2% month-on-month, a decrease of 0.2 percentage points from the previous month. The sales price of newly built commercial housing in third-tier cities fell by 0.2% month-on-month, a decrease of 0.1 percentage point; the sales price of second-hand housing fell by 0.3% month-on-month, a decrease of 0.1 percentage point.

In March, among the 70 large and medium-sized cities, 24 cities had the sales prices of newly built commercial housing increased month-on-month, an increase of 6 from the previous month; 10 cities had the sales prices of second-hand housing increased month-on-month, an increase of 7 from the previous month.

02 The year-on-year decline in commercial housing sales prices in all tier cities continued to narrow

In March, the year-on-year sales prices of newly built commercial housing in first-tier cities fell by 2.8%, a decrease of 0.2 percentage points from the previous month. Among them, Shanghai rose 5.7%, while Beijing, Guangzhou and Shenzhen fell 5.7%, 7.2% and 3.9% respectively. The sales prices of second-hand residential properties in first-tier cities fell by 4.1% year-on-year, with a decrease of 0.8 percentage points, of which Beijing, Shanghai, Guangzhou and Shenzhen fell by 2.1%, 1.4%, 8.7% and 4.1% respectively.

In March, the sales prices of newly built commercial housing and second-hand housing in second-tier cities fell by 4.4% and 7.0% year-on-year, respectively, with a decrease of 0.3 and 0.4 percentage points from the previous month. The sales prices of newly built commercial housing and second-hand housing in third-tier cities fell by 5.7% and 7.8% year-on-year respectively, a decrease of 0.2 percentage points from the previous month.

(CCTV reporter Liu Ying and Li Tang)