National Bureau of Statistics: Commodity Residential Sales Prices Decline Year-over-Year

In February, the sales prices of newly built commercial residential properties in first-tier cities decreased by 2.2% year-on-year, with the decline widening by 0.1 percentage points compared to the previous month. Among them, Shanghai increased by 4.2%, while Beijing, Guangzhou, and Shenzhen decreased by 2.3%, 5.1%, and 5.5%, respectively. The sales prices of newly built commercial residential properties in second- and third-tier cities declined by 3.1% and 4.0% year-on-year, with the declines widening by 0.2 and 0.1 percentage points, respectively. In February, the second-hand residential sales prices in first-tier cities decreased by 7.6% year-on-year, with the same decline as the previous month. Among them, Beijing, Shanghai, Guangzhou, and Shenzhen decreased by 8.4%, 6.2%, 8.5%, and 7.1%, respectively. The second-hand residential sales prices in second-tier cities declined by 6.2% year-on-year, with the same decline as the previous month. In third-tier cities, the second-hand residential sales prices decreased by 6.3% year-on-year, with the decline expanding by 0.2 percentage points. (National Bureau of Statistics)