National Bureau of Statistics: In December 2025, the overall sales prices of commercial residential properties in various tier cities generally decreased.

On January 19th, Wang Zhonghua, the Chief Statistician of the Urban Division of the National Bureau of Statistics, interpreted the statistical data on the changes in the sales prices of commodity housing in December 2025. In December 2025, the sales prices of commodity housing in 70 large and medium-sized cities overall decreased compared to the previous month, and the year-on-year decline widened. In December, the sales prices of new commodity housing in first-tier cities decreased by 0.3% compared to the previous month, narrowing by 0.1 percentage points compared to the previous month. In December, the year-on-year decrease in the sales prices of new commodity housing in first-tier cities was 1.7%, expanding by 0.5 percentage points compared to the previous month. The original text is as follows: Sales prices of commodity housing in cities generally decreased in December Wang Zhonghua, Chief Statistician of the Urban Division of the National Bureau of Statistics, interprets the statistical data on the changes in sales prices of commodity housing in December 2025 In December 2025, the sales prices of commodity housing in 70 large and medium-sized cities overall decreased compared to the previous month, and the year-on-year decline widened. I. Sales prices of commodity housing in first, second, and third-tier cities decreased compared to the previous month In December, the sales prices of new commodity housing in first-tier cities decreased by 0.3% compared to the previous month, narrowing by 0.1 percentage points compared to the previous month. Among them, Shanghai rose by 0.2%, while Beijing, Guangzhou, and Shenzhen decreased by 0.4%, 0.6%, and 0.5% respectively. The sales prices of new commodity housing in second-tier cities decreased by 0.4% compared to the previous month, with the decline expanding by 0.1 percentage points. The sales prices of new commodity housing in third-tier cities decreased by 0.4% compared to the previous month, with the decline being the same as the previous month. In December, the sales prices of second-hand housing in first-tier cities decreased by 0.9% compared to the previous month, narrowing by 0.2 percentage points compared to the previous month. Among them, Beijing, Shanghai, Guangzhou, and Shenzhen decreased by 1.3%, 0.6%, 1.0%, and 0.6% respectively. The sales prices of second-hand housing in second and third-tier cities both decreased by 0.7% compared to the previous month, with the decline expanding by 0.1 percentage points in both cases. II. Year-on-year decline in sales prices of commodity housing in first, second, and third-tier cities expanded In December, the year-on-year decline in the sales prices of new commodity housing in first-tier cities was 1.7%, expanding by 0.5 percentage points compared to the previous month. Among them, Shanghai rose by 4.8%, while Beijing, Guangzhou, and Shenzhen decreased by 2.4%, 4.8%, and 4.4% respectively. The year-on-year decrease in the sales prices of new commodity housing in second and third-tier cities was 2.5% and 3.7% respectively, with the decline expanding by 0.3 and 0.2 percentage points respectively. In December, the year-on-year decrease in the sales prices of second-hand housing in first-tier cities was 7.0%, expanding by 1.2 percentage points compared to the previous month. Among them, Beijing, Shanghai, Guangzhou, and Shenzhen decreased by 8.5%, 6.1%, 7.8%, and 5.4% respectively. The sales prices of second-hand housing in second and third-tier cities both decreased by 6.0% compared to the previous month, with the decline expanding by 0.4 and 0.2 percentage points respectively. This article is selected from the National Bureau of Statistics, GMTEight editor: Chen Wenfang.