国家统计局：10月份各线城市商品住宅销售价格总体下降

Summary of Key Points Core Viewpoint - In October 2025, the sales prices of commercial residential properties in 70 major cities showed a decline both month-on-month and year-on-year across various city tiers, indicating a continued downward trend in the real estate market. Group 1: Month-on-Month Price Changes - In October, the sales prices of new commercial residential properties in first-tier cities decreased by 0.3%, with Shanghai increasing by 0.3% while Beijing, Guangzhou, and Shenzhen saw declines of 0.1%, 0.8%, and 0.7% respectively [1] - Second-tier cities experienced a month-on-month decline of 0.4% in new commercial residential property prices, consistent with the previous month [1] - Third-tier cities saw a month-on-month decrease of 0.5%, with the decline widening by 0.1 percentage points compared to the previous month [1] - The month-on-month sales prices of second-hand residential properties in first-tier cities fell by 0.9%, a slight narrowing of the decline by 0.1 percentage points from the previous month [2] - Second-tier cities recorded a month-on-month decline of 0.6% in second-hand residential property prices, also narrowing by 0.1 percentage points [2] - Third-tier cities experienced a month-on-month decrease of 0.7%, with the decline widening by 0.1 percentage points [2] Group 2: Year-on-Year Price Changes - In October, the year-on-year sales prices of new commercial residential properties in first-tier cities dropped by 0.8%, with the decline expanding by 0.1 percentage points from the previous month [1] - Shanghai saw a year-on-year increase of 5.7%, while Beijing, Guangzhou, and Shenzhen experienced declines of 2.0%, 4.2%, and 2.6% respectively [1] - Second-tier cities reported a year-on-year decline of 2.0%, with the decline narrowing by 0.1 percentage points [1] - Third-tier cities faced a year-on-year decrease of 3.4%, with the decline remaining consistent with the previous month [1] - The year-on-year sales prices of second-hand residential properties in first-tier cities fell by 4.4%, with the decline expanding by 1.2 percentage points from the previous month [2] - Second-tier cities saw a year-on-year decline of 5.2%, with the decline widening by 0.2 percentage points [2] - Third-tier cities experienced a year-on-year decrease of 5.7%, with the decline remaining unchanged from the previous month [2]