4月70城房价出炉！上海、大连环比涨0.5%领跑，各线城市同比降幅收窄

Core Viewpoint - In April 2025, the sales prices of new residential properties in 70 large and medium-sized cities in China remained stable or slightly decreased month-on-month, with year-on-year declines continuing to narrow [1][2]. Price Changes in New Residential Properties - In April, first-tier cities saw new residential property prices month-on-month stabilize at 0.0%, compared to a 0.1% increase in the previous month. Beijing and Shanghai increased by 0.1% and 0.5%, while Guangzhou and Shenzhen decreased by 0.2% and 0.1% respectively [2][4]. - Year-on-year, first-tier cities experienced a 2.1% decline in new residential property prices, a reduction of 0.7 percentage points from the previous month. Shanghai saw a 5.9% increase, while Beijing, Guangzhou, and Shenzhen declined by 5.0%, 6.3%, and 3.0% respectively [2][3]. Price Changes in Second-hand Residential Properties - In April, first-tier cities' second-hand residential property prices decreased by 0.2% month-on-month, reversing a 0.2% increase from the previous month. Shanghai increased by 0.1%, while Beijing and Shenzhen decreased by 0.6% and 0.3% respectively [2][4]. - Year-on-year, first-tier cities' second-hand residential property prices fell by 3.2%, narrowing the decline by 0.9 percentage points compared to the previous month. Beijing, Shanghai, Guangzhou, and Shenzhen saw declines of 1.0%, 0.6%, 7.4%, and 3.7% respectively [3][4]. Summary of Price Indices - The price index for new residential properties in Beijing was 100.1 (month-on-month), with a year-on-year decline of 5.0%. Shanghai's index was 100.5, with a year-on-year increase of 5.9%. Guangzhou's index was 99.8, with a year-on-year decline of 6.3%, and Shenzhen's index was 99.9, with a year-on-year decline of 3.0% [4][5].