国家统计局发布8月70城房价：同比降幅总体继续收窄

Core Viewpoint - The latest housing price data released by the National Bureau of Statistics indicates a continued decline in residential property prices across major cities in August 2025, with a narrowing of the year-on-year decline in some categories [1][3]. Summary by Category Monthly Price Changes - In August, the sales prices of newly built residential properties in first-tier cities decreased by 0.1% month-on-month, with the decline narrowing by 0.1 percentage points compared to the previous month. Shanghai saw an increase of 0.4%, while Beijing, Guangzhou, and Shenzhen experienced declines of 0.4%, 0.2%, and 0.4% respectively [4]. - Second-tier cities saw a month-on-month decrease of 0.3% in newly built residential property prices, with the decline narrowing by 0.1 percentage points. Third-tier cities experienced a 0.4% decrease, with the decline expanding by 0.1 percentage points [4]. - The sales prices of second-hand residential properties in first-tier cities fell by 1.0% month-on-month, remaining unchanged from the previous month. Beijing, Shanghai, Guangzhou, and Shenzhen saw declines of 1.2%, 1.0%, 0.9%, and 0.8% respectively [4]. - Second-tier cities recorded a 0.6% month-on-month decrease in second-hand residential property prices, with the decline expanding by 0.1 percentage points, while third-tier cities saw a 0.5% decrease, unchanged from the previous month [4]. Yearly Price Changes - Year-on-year, the sales prices of newly built residential properties in first-tier cities decreased by 0.9%, with the decline narrowing by 0.2 percentage points compared to the previous month. Shanghai experienced a price increase of 5.9%, while Beijing, Guangzhou, and Shenzhen saw declines of 3.5%, 4.3%, and 1.7% respectively [5]. - Second-tier cities experienced a year-on-year decrease of 2.4% in newly built residential property prices, with the decline narrowing by 0.4 percentage points. Third-tier cities saw a 3.7% decrease, with the decline narrowing by 0.5 percentage points [5]. - The year-on-year sales prices of second-hand residential properties in first-tier cities fell by 3.5%, with the decline expanding by 0.1 percentage points. Beijing, Shanghai, Guangzhou, and Shenzhen recorded declines of 3.1%, 2.6%, 6.2%, and 1.9% respectively [5]. - Second-tier cities saw a year-on-year decrease of 5.2% in second-hand residential property prices, with the decline narrowing by 0.4 percentage points, while third-tier cities experienced a 6.0% decrease, also with a narrowing decline of 0.4 percentage points [5].