CCTV News: Wang Zhonghua, chief statistician of the Urban Department of the National Bureau of Statistics, interprets the statistical data on changes in the sales prices of commercial housing in December 2024. In December 2024, among the 70 large and medium-sized cities, 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; the year-on-year decline in first- and second- and third-tier cities continued to narrow.

1. 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 December, the sales prices of newly built commercial housing in first-tier cities changed from the same month-on-month to an increase of 0.2%. Among them, Shanghai and Shenzhen rose by 0.5% and 0.2% respectively, while Beijing and Guangzhou both fell by 0.1%. The sales prices of second-hand residential properties in first-tier cities rose by 0.3% month-on-month, a decrease of 0.1 percentage point from the previous month. Among them, Beijing, Shanghai and Shenzhen rose by 0.5%, 0.9% and 0.1% respectively, while Guangzhou fell by 0.3%.

In December, the sales prices of newly built commercial housing in second-tier cities turned from a month-on-month decrease of 0.1% last month to a flat rate; second-hand housing fell by 0.3% month-on-month, an increase of 0.1 percentage point 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 second-hand housing fell by 0.4% month-on-month, a decrease of 0.1 percentage point.

In December, among the 70 large and medium-sized cities, 23 cities saw the sales price of newly built commercial housing rise month-on-month, an increase of 6 from the previous month; 9 cities saw the sales price of second-hand housing rise month-on-month, an decrease of 1 from the previous month.

2. The year-on-year decline in commercial housing sales prices in first- and second-tier cities continued to narrow

In December, the year-on-year sales prices of newly built commercial housing in first-tier cities fell by 3.8%, a decrease of 0.5 percentage points from the previous month. Among them, Beijing, Guangzhou and Shenzhen fell by 5.4%, 9.1% and 6.1% respectively, while Shanghai rose by 5.3%. The sales prices of second-hand residential properties in first-tier cities fell by 6.7% year-on-year, narrowing by 1.3 percentage points, among which Beijing, Shanghai, Guangzhou and Shenzhen fell by 4.5%, 3.4%, 10.9% and 8.0% respectively.

In December, the sales price of newly built commercial housing in second-tier cities fell by 5.4% year-on-year, a decrease of 0.4 percentage points from the previous month; the second-hand housing fell by 7.9% year-on-year, a decrease of 0.5 percentage points. The sales price of newly built commercial housing in third-tier cities fell by 6.2% year-on-year, a decrease of 0.3 percentage points; the second-hand housing fell by 8.4% year-on-year, a decrease of 0.4 percentage points.

Comments:

Statistics on real estate prices in 70 large and medium-sized cities First-tier cities: First-tier cities refer to four cities including Beijing, Shanghai, Guangzhou, Shenzhen, etc.; second-tier cities refer to 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, Lan 31 cities including Prefecture, Xining, Yinchuan, Urumqi; third-tier cities include Tangshan, Qinhuangdao, Baotou, Dandong, Jinzhou, Jilin, Mudanjiang, Wuxi, Xuzhou, Yangzhou, 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, Dali and other 35 cities.