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, while the overall decline in second- and third-tier cities decreased slightly from month-on-month; the year-on-year decline in first- and second- and third-tier cities continued to narrow.

The sales prices of commercial housing in first-tier cities continued to rise month-on-month

The overall sales prices of commercial housing in second- and third-tier cities fell slightly month-on-month

In January, the sales prices of newly built commercial housing in first-tier cities rose by 0.1% month-on-month, a decrease of 0.1 percentage point from the previous month. Among them, Beijing fell 0.4%, Guangzhou remained flat, and Shanghai and Shenzhen rose 0.6% and 0.2% respectively. The sales prices of second-hand residential properties in first-tier cities rose by 0.1% month-on-month, a decrease of 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 fell by 0.2%.

In January, the sales prices of newly built commercial housing in second-tier cities turned from flat to rising by 0.1% month-on-month, the first increase since June 2023; second-hand housing fell by 0.3% month-on-month, the same as last month. The sales prices of newly built commercial housing and second-hand housing in third-tier cities fell by 0.2% and 0.4% month-on-month, respectively, both of which were the same as last month.

In January, among the 70 large and medium-sized cities, 24 cities saw the sales price of newly built commercial housing rise month-on-month, an increase of 1 from the previous month; 7 cities saw the sales price of second-hand housing rise month-on-month, a decrease of 2 from the previous month.

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

In January, the year-on-year sales prices of newly built commercial housing in first-tier cities fell by 3.4%, a decrease of 0.4 percentage points from 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%. The sales prices of second-hand residential properties in first-tier cities fell by 5.6% year-on-year, a decrease of 1.1 percentage points from the previous month, with Beijing, Shanghai, Guangzhou and Shenzhen falling by 3.8%, 2.3%, 10.0% and 6.1% respectively.

In January, the sales price of newly built commercial housing in second-tier cities fell by 5.0% year-on-year, a decrease of 0.4 percentage points from the previous month; second-hand housing fell by 7.6% year-on-year, a decrease of 0.3 percentage points from the previous month. The sales prices of newly built commercial housing and second-hand housing in third-tier cities fell by 6.0% and 8.2% year-on-year respectively, both narrowing by 0.2 percentage points from the previous month.

(CCTV reporter Wu Hao and Li Tang)