5月70城房价公布！13城新房价格环比上涨，杭州涨0.8%领跑

Core Insights - In May 2025, the sales prices of commercial residential properties in 70 large and medium-sized cities in China showed a month-on-month decline, while the year-on-year decline continued to narrow [3][5]. Price Changes in New Residential Properties - Among the 70 cities, 13 cities saw a month-on-month increase in new residential property prices, with Hangzhou leading at a 0.8% increase [4]. - In first-tier cities, new residential property prices decreased by 0.2% month-on-month, with Shanghai increasing by 0.7%, while Beijing, Guangzhou, and Shenzhen saw declines of 0.4%, 0.8%, and 0.4% respectively [5]. - Year-on-year, first-tier cities experienced a 1.7% decline in new residential property prices, with Shanghai increasing by 5.9%, while Beijing, Guangzhou, and Shenzhen saw declines of 4.3%, 5.8%, and 2.6% respectively [5]. Price Changes in Second-Hand Residential Properties - In May, first-tier cities' second-hand residential property prices decreased by 0.7% month-on-month, with Beijing, Shanghai, Guangzhou, and Shenzhen experiencing declines of 0.8%, 0.7%, 0.8%, and 0.5% respectively [7]. - Year-on-year, first-tier cities saw a 2.7% decline in second-hand residential property prices, with the decline narrowing by 0.5 percentage points compared to the previous month [7]. Summary of Key Cities - Beijing: New residential prices down 0.4% month-on-month, down 4.3% year-on-year; second-hand prices down 0.8% month-on-month, down 0.7% year-on-year [9]. - Shanghai: New residential prices up 0.7% month-on-month, up 5.9% year-on-year; second-hand prices down 0.7% month-on-month, down 0.1% year-on-year [9]. - Guangzhou: New residential prices down 0.8% month-on-month, down 5.8% year-on-year; second-hand prices down 0.8% month-on-month, down 6.6% year-on-year [9]. - Shenzhen: New residential prices down 0.4% month-on-month, down 2.6% year-on-year; second-hand prices down 0.5% month-on-month, down 3.2% year-on-year [9].