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

In August 2026, among the 70 large and medium-sized cities, the month-on-month sales prices of commercial residential properties in first-tier cities increased, while the month-on-month declines in second- and third-tier cities generally narrowed, and the year-on-year declines in first-, second-, and third-tier cities continued to narrow. I. Month-on-month sales prices of commercial residential properties in first-tier cities increased, while month-on-month declines in second- and third-tier cities generally narrowed. In August, the month-on-month sales prices of new commercial residential properties in first-tier cities turned from flat in the previous month to an increase of 0.1%. Among them, Shanghai, Guangzhou, and Shenzhen rose 0.4%, 0.1%, and 0.2%, respectively, while Beijing fell 0.2%. The month-on-month sales prices of new commercial residential properties in second-tier cities fell 0.1%, the same decline as the previous month. The month-on-month sales prices of new commercial residential properties in third-tier cities fell 0.2%, with the decline narrowing by 0.1 percentage point from the previous month. Among the 70 large and medium-sized cities, 21 cities saw month-on-month increases or no change in sales prices of new commercial residential properties, 2 fewer than the previous month. In August, the month-on-month sales prices of second-hand residential properties in first-tier cities rose 0.1%, with the increase down 0.1 percentage point from the previous month. Among them, Shanghai and Shenzhen rose 0.3% and 0.1%, respectively, Guangzhou was flat, and Beijing fell 0.1%. The month-on-month sales prices of second-hand residential properties in second-tier cities fell 0.3%, the same decline as the previous month. The month-on-month sales prices of second-hand residential properties in third-tier cities fell 0.3%, with the decline narrowing by 0.1 percentage point from the previous month. Among the 70 large and medium-sized cities, 8 cities saw month-on-month increases or no change in sales prices of second-hand residential properties, the same as the previous month. II. Year-on-year declines in sales prices of commercial residential properties in first-, second-, and third-tier cities continued to narrow. In August, the year-on-year sales prices of new commercial residential properties in first-tier cities fell 0.9%, with the decline narrowing by 0.2 percentage point from the previous month. Among them, Beijing, Guangzhou, and Shenzhen fell 2.3%, 1.9%, and 2.3%, respectively, while Shanghai rose 3.0%. The year-on-year sales prices of new commercial residential properties in second- and third-tier cities fell 2.7% and 4.1%, respectively, with both declines narrowing by 0.1 percentage point. In August, the year-on-year sales prices of second-hand residential properties in first-tier cities fell 2.7%, with the decline narrowing by 1.0 percentage point from the previous month. Among them, Beijing, Shanghai, Guangzhou, and Shenzhen fell 3.5%, 0.8%, 3.8%, and 2.7%, respectively. The year-on-year sales prices of second-hand residential properties in second- and third-tier cities fell 4.9% and 5.6%, respectively, with both declines narrowing by 0.2 percentage point.