10月70城房价出炉

Core Viewpoint - In October 2025, the sales prices of commercial residential properties in 70 large and medium-sized cities in China experienced both month-on-month and year-on-year declines across various city tiers [1]. 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 [2]. - Second-tier cities experienced a month-on-month decline of 0.4%, while third-tier cities saw a larger decline of 0.5%, which is an increase of 0.1 percentage points compared to the previous month [2]. - The month-on-month 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]. Group 2: Year-on-Year Price Changes - Year-on-year, the sales prices of new commercial residential properties in first-tier cities dropped by 0.8%, with Shanghai increasing by 5.7% while Beijing, Guangzhou, and Shenzhen saw declines of 2.0%, 4.2%, and 2.6% respectively [3]. - Second-tier cities experienced a year-on-year decline of 2.0%, while third-tier cities saw a decline of 3.4%, remaining unchanged from the previous month [3]. - The year-on-year prices of second-hand residential properties in first-tier cities decreased by 4.4%, with the decline expanding by 1.2 percentage points compared to the previous month [3].