统计局：2025年11月份70个大中城市商品住宅销售价格变动情况

Core Insights - The report indicates a general decline in new residential property prices across 70 major cities in China for November 2025, with an average price index of 99.5 compared to the previous month [1][2][3] - The data shows a year-on-year decrease in both new and second-hand residential property prices, suggesting a continued trend of weakening demand in the real estate market [1][4] New Residential Property Prices - The new residential property price index for November 2025 is reported at 99.5, reflecting a decrease of 0.5% from the previous month [1] - Cities such as Beijing and Tianjin show slight declines, with indices of 99.6 and 99.3 respectively, indicating a broader trend of price reductions [1][2] - The average price index for the first eleven months of 2025 stands at 100.1, suggesting a more stable price level earlier in the year compared to November [1] Second-Hand Residential Property Prices - The second-hand residential property price index also reflects a decline, with an average index of 99.4 for November 2025, down from the previous month [2][4] - Major cities like Shanghai and Shenzhen report indices of 99.1 and 99.0 respectively, indicating a similar downward trend in the second-hand market [2][4] - The year-to-date average for second-hand properties is 99.5, showing a consistent decrease in prices throughout the year [2] Price Classification by Property Size - The report categorizes new residential property prices by size, with properties under 90m² showing an index of 99.2, while those between 90-144m² and over 144m² have indices of 99.4 and 99.8 respectively [3][4] - This classification indicates that smaller properties are experiencing a more significant decline compared to larger ones, which may reflect changing buyer preferences [3][4] Conclusion - The overall trend in the residential property market across major cities in China indicates a decline in both new and second-hand property prices, with various factors contributing to this trend, including economic conditions and buyer sentiment [1][2][3][4]