National Bureau of Statistics: In August, the year-on-year decline in commercial residential sales prices in cities across all tiers continued to narrow.

According to the Zhitong Finance APP, data from the National Bureau of Statistics shows that in August, the sales prices of new commercial residential properties in first-tier cities decreased by 0.9% year-on-year, with the decline narrowing by 0.2 percentage points from the previous month. Among them, Beijing, Guangzhou, and Shenzhen fell by 2.3%, 1.9%, and 2.3% respectively, while Shanghai rose by 3.0%. The sales prices of new commercial residential properties in second- and third-tier cities decreased by 2.7% and 4.1% year-on-year respectively, with both declines narrowing by 0.1 percentage points. In the second-hand housing market, the sales prices of second-hand residential properties in first-tier cities decreased by 2.7% year-on-year, with the decline narrowing by 1.0 percentage point from the previous month. Among them, Beijing, Shanghai, Guangzhou, and Shenzhen fell by 3.5%, 0.8%, 3.8%, and 2.7% respectively. The sales prices of second-hand residential properties in second- and third-tier cities decreased by 4.9% and 5.6% year-on-year respectively, with both declines narrowing by 0.2 percentage points.