National Bureau of Statistics: In December 2024, the sales prices of commercial residential properties in first-tier cities rose month-on-month, while the overall decline in second and third-tier cities narrowed.

17/01/2025

Wang Zhonghua, Chief Statistician of the Urban Department of the National Bureau of Statistics, interpreted that in December 2024, the sales price of residential properties in first-tier cities increased compared to the previous month, while the overall decline in prices in second and third-tier cities narrowed. The year-on-year price declines in first, second, and third-tier cities all continued to narrow.

On January 17th, the National Bureau of Statistics released the changes in the selling prices of commercial residential properties in 70 large and medium-sized cities in December 2024. Wang Zhonghua, the Chief Statistician of the Urban Department of the National Bureau of Statistics, interpreted that in December 2024, among the 70 large and medium-sized cities, the selling prices of commercial residential properties in first-tier cities increased month-on-month, while the overall decrease in second and third-tier cities narrowed. The year-on-year decrease in first, second, and third-tier cities continued to narrow. In December, the month-on-month selling prices of new commercial residential properties in first-tier cities increased by 0.2% from the previous month. Among them, Shanghai and Shenzhen increased by 0.5% and 0.2% respectively, while Beijing and Guangzhou both decreased by 0.1%. The month-on-month selling prices of second-hand residential properties in first-tier cities increased by 0.3%, with a decrease of 0.1 percentage points compared to the previous month. Among them, Beijing, Shanghai, and Shenzhen increased by 0.5%, 0.9%, and 0.1% respectively, while Guangzhou decreased by 0.3%. In December, the month-on-month selling prices of new commercial residential properties in second-tier cities changed from a 0.1% decrease to stable; second-hand residential properties decreased by 0.3% month-on-month, an increase of 0.1 percentage points compared to the previous month. The month-on-month selling prices of new commercial residential properties in third-tier cities decreased by 0.2%, with a decrease of 0.1 percentage points; second-hand residential properties decreased by 0.4% month-on-month, with a decrease of 0.1 percentage points. In December, among the 70 large and medium-sized cities, 23 cities saw an increase in the selling prices of new commercial residential properties month-on-month, an increase of 6 from the previous month; 9 cities saw an increase in the selling prices of second-hand residential properties month-on-month, a decrease of 1 from the previous month. The year-on-year decrease in the selling prices of commercial residential properties in first, second, and third-tier cities continued to narrow. This article is selected from the official website of the National Bureau of Statistics, edited by GMTEight: Chen Xiaoyi.

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