National Bureau of Statistics: The month-on-month decrease in the sales prices of newly built commodity houses in first-tier cities narrowed in August, while the year-on-year decrease was the same as the previous month.

On September 14, the National Bureau of Statistics released the "Changes in the Sales Prices of Commercial Residential Buildings in 70 Large and Medium-sized Cities in August 2024". In August 2024, among the 70 large and medium-sized cities, the prices of commercial residential buildings in various tier cities saw a month-on-month decline, and the year-on-year decline slightly expanded overall. In particular, the month-on-month decline in the prices of new commercial residential buildings in first-tier cities narrowed, while the year-on-year decline was the same as the previous month. Wang Zhonghua, chief statistician of the Urban Department of the National Bureau of Statistics, explained that in August, the month-on-month decline in the prices of new commercial residential buildings in first-tier cities was 0.3%, which was 0.2 percentage points narrower than the previous month. In August, the year-on-year decline in the prices of new commercial residential buildings in first-tier cities was 4.2%, the same as the previous month. Below is the original text: "In August 2024, among the 70 large and medium-sized cities, the prices of commercial residential buildings in various tier cities saw a month-on-month decline, and the year-on-year decline slightly expanded overall. In particular, the month-on-month decline in the prices of new commercial residential buildings in first-tier cities narrowed, while the year-on-year decline was the same as the previous month. I. Month-on-month decline in the prices of commercial residential buildings In August, the month-on-month decline in the prices of new commercial residential buildings in first-tier cities was 0.3%, which was 0.2 percentage points narrower than the previous month. Among them, Beijing, Guangzhou, and Shenzhen dropped by 0.5%, 0.5%, and 0.8% respectively, while Shanghai rose by 0.6%. The month-on-month decline in the prices of new commercial residential buildings in second and third-tier cities was 0.7% and 0.8% respectively, both expanding by 0.1 percentage points compared to the previous month. In August, the month-on-month decline in the prices of second-hand residential buildings in first-tier cities was 0.9%, expanding by 0.4 percentage points compared to the previous month, with Beijing, Shanghai, Guangzhou, and Shenzhen dropping by 1.0%, 0.6%, 0.7%, and 1.3% respectively. The month-on-month decline in the prices of second-hand residential buildings in second and third-tier cities was 1.0% and 0.9% respectively, expanding by 0.2 and 0.1 percentage points compared to the previous month. II. Overall slight expansion in the year-on-year decline in the prices of commercial residential buildings In August, the year-on-year decline in the prices of new commercial residential buildings in first-tier cities was 4.2%, the same as the previous month. Among them, Beijing, Guangzhou, and Shenzhen dropped by 3.6%, 10.1%, and 8.2% respectively, while Shanghai rose by 4.9%. The year-on-year decline in the prices of new commercial residential buildings in second and third-tier cities was 5.3% and 6.2% respectively, expanding by 0.5 and 0.4 percentage points compared to the previous month. In August, the year-on-year decline in the prices of second-hand residential buildings in first-tier cities was 9.4%, expanding by 0.6 percentage points compared to the previous month, with Beijing, Shanghai, Guangzhou, and Shenzhen dropping by 8.5%, 5.8%, 12.5%, and 10.8% respectively. The year-on-year decline in the prices of second-hand residential buildings in second and third-tier cities was 8.6% and 8.5% respectively, both expanding by 0.4 percentage points compared to the previous month. This article is from the National Bureau of Statistics"