70个大中城市商品住宅销售价格出炉！

Core Insights - The data released by the National Bureau of Statistics indicates a month-on-month decline in residential property prices across various city tiers in September 2025, with a continued narrowing of year-on-year declines [1] Group 1: Month-on-Month Price Changes - In September, new residential property prices in first-tier cities decreased by 0.3%, with the decline expanding by 0.2 percentage points compared to the previous month. Beijing and Shanghai saw increases of 0.2% and 0.3%, while Guangzhou and Shenzhen experienced declines of 0.6% and 1.0% respectively [2] - Second-tier cities saw a month-on-month decline of 0.4% in new residential property prices, with the decline expanding by 0.1 percentage points. Third-tier cities also experienced a 0.4% decline, remaining consistent with the previous month [2] - The month-on-month decline in second-hand residential property prices in first-tier cities was 1.0%, unchanged from the previous month. Beijing, Shanghai, Guangzhou, and Shenzhen saw declines of 0.9%, 1.0%, 0.8%, and 1.0% respectively. Second and third-tier cities experienced declines of 0.7% and 0.6%, with both declines expanding by 0.1 percentage points [2] Group 2: Year-on-Year Price Changes - Year-on-year, new residential property prices in first-tier cities decreased by 0.7%, with the decline narrowing by 0.2 percentage points compared to the previous month. Shanghai saw an increase of 5.6%, while Beijing, Guangzhou, and Shenzhen experienced declines of 2.6%, 4.1%, and 1.8% respectively [3] - Year-on-year, second-hand residential property prices in first-tier cities decreased by 3.2%, with the decline narrowing by 0.3 percentage points. The declines in Beijing, Shanghai, Guangzhou, and Shenzhen were 2.7%, 2.4%, 6.0%, and 1.7% respectively. Second and third-tier cities saw year-on-year declines of 5.0% and 5.7%, with declines narrowing by 0.2 and 0.3 percentage points respectively [3]