Core Insights - The real estate market in China is experiencing a downward adjustment, with new residential sales prices in first-tier cities declining for two consecutive months, while second and third-tier cities show a narrowing year-on-year decline [1][2] Group 1: Price Trends - In June, new residential sales prices in first-tier cities decreased by 0.3% month-on-month, with Shanghai seeing a 0.4% increase, while Beijing, Guangzhou, and Shenzhen experienced declines of 0.3%, 0.5%, and 0.6% respectively [1] - Second and third-tier cities saw new residential sales prices decrease by 0.2% and 0.3% month-on-month, maintaining the same decline as the previous month [1] - The second-hand residential market in first-tier cities faced a month-on-month price drop of 0.7%, with Beijing, Shanghai, Guangzhou, and Shenzhen recording declines of 1.0%, 0.7%, 0.7%, and 0.5% respectively [1] Group 2: Market Analysis - The decline in first-tier cities is attributed to a reduction in core supply, despite an increase in new housing supply in June [2] - The second-hand housing market is under significant downward pressure, with price adjustments being more pronounced in second and third-tier cities [2] - The market is characterized by a trend of "price for volume" in the second-hand market, indicating substantial price pressures [2] Group 3: Policy Implications - The State Council has emphasized the need for stronger measures to stabilize the real estate market, including optimizing existing policies and enhancing their effectiveness [2] - Expectations for policy support in the second half of the year include targeted measures for different cities to address structural issues, with a focus on core cities [3] - Long-term solutions such as industrial upgrades and population influx are necessary for second and third-tier cities to resolve demand shortages [3]
6月楼市再次进入调整周期 二手房出现普跌
Zhong Guo Jing Ji Wang·2025-07-15 08:46