最新70城房价出炉，上海“火了”！

Core Viewpoint - In July 2025, the sales prices of commercial residential properties in various cities decreased month-on-month, while the year-on-year decline narrowed overall [3][5]. Group 1: Month-on-Month Price Changes - In July, the sales prices of new commercial residential properties in first-tier cities decreased by 0.2%, with a narrowing decline of 0.1 percentage points compared to the previous month. Beijing remained stable, Shanghai increased by 0.3%, while Guangzhou and Shenzhen decreased by 0.3% and 0.6%, respectively [4]. - Second-tier cities saw a month-on-month decline of 0.4%, with the decline expanding by 0.2 percentage points. Third-tier cities experienced a 0.3% decrease, consistent with the previous month [4]. - The month-on-month sales prices of second-hand residential properties in first-tier cities fell by 1.0%, with the decline expanding by 0.3 percentage points. Beijing, Shanghai, Guangzhou, and Shenzhen saw decreases of 1.1%, 0.9%, 1.0%, and 0.9%, respectively. Second and third-tier cities both saw a 0.5% decline, with a narrowing decline of 0.1 percentage points [4]. Group 2: Year-on-Year Price Changes - In July, the year-on-year sales prices of new commercial residential properties in first-tier cities decreased by 1.1%, with a narrowing decline of 0.3 percentage points compared to the previous month. Shanghai saw an increase of 6.1%, while Beijing, Guangzhou, and Shenzhen experienced declines of 3.6%, 4.6%, and 2.2%, respectively [5]. - Second-tier cities experienced a year-on-year decline of 2.8%, while third-tier cities saw a 4.2% decrease, with declines narrowing by 0.2 and 0.4 percentage points, respectively. Among the 70 major cities, five cities saw year-on-year increases in new commercial residential property prices, an increase of two compared to the previous month [5]. - The year-on-year sales prices of second-hand residential properties in first-tier cities decreased by 3.4%, with the decline expanding by 0.4 percentage points. Beijing, Shanghai, Guangzhou, and Shenzhen saw decreases of 2.9%, 2.2%, 6.0%, and 2.5%, respectively. Second and third-tier cities experienced year-on-year declines of 5.6% and 6.4%, with declines narrowing by 0.2 and 0.3 percentage points, respectively [5].