National Bureau of Statistics: In May, the selling price of new residential buildings in first-tier cities increased by 0.2% compared to the previous month.

On June 16, according to data from the National Bureau of Statistics, in May 2026, among the 70 large and medium-sized cities, the sales prices of newly built residential properties in first-tier cities increased month-on-month, while those in second and third-tier cities decreased. The overall year-on-year decline in sales prices for first, second, and third-tier cities narrowed. The number of cities where the sales prices of newly built residential properties increased month-on-month increased compared to the previous month. In May, the sales prices of newly built residential properties in first-tier cities increased by 0.2% month-on-month, with the growth rate expanding by 0.1 percentage points compared to the previous month. Specifically, Shanghai, Guangzhou, and Shenzhen increased by 0.2%, 0.2%, and 0.4%, respectively, while Beijing decreased by 0.2%. The sales prices of second-tier cities decreased by 0.1% month-on-month, with the same decline as the previous month. The sales prices of newly built residential properties in third-tier cities decreased by 0.4% month-on-month, with the decline expanding by 0.1 percentage points compared to the previous month. Among the 70 large and medium-sized cities, there were 16 cities where the sales prices of newly built residential properties increased month-on-month, an increase of 2 cities compared to the previous month. In May, the sales prices of second-hand residential properties in first-tier cities increased by 0.4% month-on-month, with the same growth rate as the previous month. Specifically, Beijing, Shanghai, Guangzhou, and Shenzhen increased by 0.1%, 0.6%, 0.1%, and 0.6%, respectively. The sales prices of second-hand residential properties in second-tier cities decreased by 0.2% month-on-month, with the same decline as the previous month. The sales prices of second-hand residential properties in third-tier cities decreased by 0.4% month-on-month, with the decline expanding by 0.1 percentage points compared to the previous month. Among the 70 large and medium-sized cities, there were 10 cities where the sales prices of second-hand residential properties increased month-on-month, a decrease of 2 cities compared to the previous month. In summary, the overall year-on-year decline in sales prices of newly built residential properties in first, second, and third-tier cities narrowed in May. The sales prices of newly built residential properties in first-tier cities decreased by 1.7% year-on-year, with the decline narrowing by 0.4 percentage points compared to the previous month. Shanghai saw an increase of 3.2%, while Beijing, Guangzhou, and Shenzhen experienced decreases of 2.1%, 3.3%, and 4.5%, respectively. The sales prices of newly built residential properties in second-tier cities decreased by 3.2% year-on-year, with the decline narrowing by 0.1 percentage points compared to the previous month. The sales prices of newly built residential properties in third-tier cities decreased by 4.2% year-on-year, with the decline expanding by 0.1 percentage points compared to the previous month. The year-on-year decline in the sales prices of second-hand residential properties in first-tier cities narrowed to 5.8% in May, with a decrease of 1.0 percentage points compared to the previous month. Beijing, Shanghai, Guangzhou, and Shenzhen experienced decreases of 6.5%, 4.3%, 7.0%, and 5.5%, respectively. The year-on-year decline in the sales prices of second-hand residential properties in second and third-tier cities narrowed by 0.2 and 0.1 percentage points, respectively. This article is excerpted from the official website of the National Bureau of Statistics, edited by GMTEight and by Liu Jiayin.