8月房价数据公布，山东4市新房价格同比降幅继续收窄

Core Viewpoint - The sales prices of new residential properties in 70 large and medium-sized cities in China showed a month-on-month decline in August 2025, while the year-on-year decline continued to narrow overall [1][7]. New Residential Property Prices - In Shandong Province, the new residential property prices in Jinan, Qingdao, Yantai, and Jining decreased month-on-month by 0.6%, 0.3%, 0.4%, and 0.5% respectively, with Qingdao's decline narrowing compared to the previous month [1]. - Year-on-year, Jinan's prices fell by 3.7% (narrowing by 0.3 percentage points), Qingdao by 1.5% (narrowing by 0.3 percentage points), Yantai by 4.3% (narrowing by 0.1 percentage points), and Jining by 3.6% (narrowing by 0.1 percentage points) [1]. Second-hand Residential Property Prices - In Shandong Province, second-hand residential property prices in Jinan, Qingdao, Yantai, and Jining decreased month-on-month by 0.6%, 1.0%, 0.8%, and 0.9% respectively, with Qingdao's decline expanding compared to the previous month [4]. - Year-on-year, Jinan's prices fell by 4.7% (narrowing by 1.2 percentage points), Qingdao by 5% (expanding by 0.1 percentage points), Yantai by 6.7% (unchanged), and Jining by 5.4% (expanding by 0.2 percentage points) [4]. Price Trends in Major Cities - In August, first-tier cities saw a month-on-month decline of 0.1% in new residential property prices, with Shanghai increasing by 0.4% while Beijing, Guangzhou, and Shenzhen decreased by 0.4%, 0.2%, and 0.4% respectively [7]. - Second-tier cities experienced a month-on-month decline of 0.3%, while third-tier cities saw a decline of 0.4% [7]. - Year-on-year, first-tier cities' new residential property prices decreased by 0.9%, with Shanghai increasing by 5.9% and other cities showing declines [8].