70城房价：一线城市新建商品住宅销售价格环比下降0.3%

Core Insights - The overall sales prices of commercial residential properties in 70 large and medium-sized cities in China showed a month-on-month decline in December 2025, with a widening year-on-year decrease [1] Group 1: First-tier Cities - In December, the sales prices of newly built commercial residential properties in first-tier cities decreased by 0.3% month-on-month, with the decline narrowing by 0.1 percentage points compared to the previous month [1] - Among first-tier cities, Shanghai saw a price increase of 0.2%, while Beijing, Guangzhou, and Shenzhen experienced declines of 0.4%, 0.6%, and 0.5% respectively [1] - The sales prices of second-hand residential properties in first-tier cities fell by 0.9% month-on-month, with the decline narrowing by 0.2 percentage points from the previous month [1] Group 2: Second-tier and Third-tier Cities - In December, the sales prices of newly built commercial residential properties in second-tier cities decreased by 0.4% month-on-month, with the decline widening by 0.1 percentage points [1] - The sales prices of newly built commercial residential properties in third-tier cities also decreased by 0.4% month-on-month, with the decline remaining the same as the previous month [1] - The sales prices of second-hand residential properties in both second-tier and third-tier cities fell by 0.7% month-on-month, with the decline widening by 0.1 percentage points [1]