National Bureau of Statistics: Month-over-month decline in commodity residential sales prices continues to narrow

In February, the month-on-month sales prices of newly built commercial residential properties in first-tier cities remained flat after a 0.3% decrease last month. Beijing and Shanghai both increased by 0.2%, Guangzhou remained unchanged, and Shenzhen decreased by 0.3%. The sales prices in second- and third-tier cities decreased by 0.2% and 0.3% respectively, with the decline narrowing by 0.1 percentage points. Among 70 large and medium-sized cities, 10 cities saw an increase in the month-on-month sales prices of newly built commercial residential properties, 7 cities remained flat, totaling 9 more than last month. In February, the second-hand residential sales prices in first-tier cities decreased by 0.1% month-on-month, with the decline narrowing by 0.4 percentage points from last month. Beijing and Shanghai increased by 0.3% and 0.2% respectively, while Guangzhou and Shenzhen decreased by 0.5% and 0.4%. The second- and third-tier cities saw decreases of 0.4% and 0.5% respectively, with the declines narrowing by 0.1 percentage points. (National Bureau of Statistics)