Core Viewpoint - The average housing prices in many provinces have returned to levels seen in 2017, indicating a stabilization in the real estate market across various regions of China [2][3][5][8][10][13][14][18][20][23][25][28][30][33][35][38][39][43][45][48][50][53][55][58][60][63][66][69][71][74][76]. Summary by Region North China - Beijing's average new housing price in the first half of 2025 is approximately 32,213 CNY per square meter, returning to around 2017 levels [2] - Tianjin's average new housing price is about 14,250 CNY per square meter, back to early 2017 levels [3] - Hebei's average new housing price is around 7,901 CNY per square meter, reverting to early 2020 levels [5] - Shanxi's average new housing price is approximately 6,954 CNY per square meter, returning to early 2018 levels [8] - Inner Mongolia's average new housing price is about 6,269 CNY per square meter, back to late 2019 levels [10] Northeast China - Heilongjiang's average new housing price is approximately 6,051 CNY per square meter, returning to early 2017 levels [13] - Jilin's average new housing price is around 6,471 CNY per square meter, reverting to early 2018 levels [14] - Liaoning's average new housing price is about 7,800 CNY per square meter, back to early 2019 levels [18] East China - Shandong's average new housing price is approximately 7,740 CNY per square meter, returning to early 2019 levels [20] - Jiangsu's average new housing price is around 9,887 CNY per square meter, reverting to mid-2018 levels [23] - Shanghai's average new housing price is about 42,168 CNY per square meter, back to mid-2021 levels [25] - Zhejiang's average new housing price is approximately 15,440 CNY per square meter, returning to 2019 levels [28] - Anhui's average new housing price is around 6,786 CNY per square meter, reverting to early 2018 levels [30] - Fujian's average new housing price is about 10,366 CNY per square meter, back to mid-2018 levels [33] Central South China - Henan's average new housing price is approximately 6,331 CNY per square meter, returning to early 2019 levels [38] - Hubei's average new housing price is around 7,696 CNY per square meter, reverting to 2017 levels [39] - Hunan's average new housing price is about 5,862 CNY per square meter, back to early 2019 levels [43] - Guangdong's average new housing price is approximately 15,403 CNY per square meter, returning to 2020 levels [45] - Guangxi's average new housing price is around 5,384 CNY per square meter, reverting to early 2017 levels [48] - Hainan's average new housing price is about 16,649 CNY per square meter, back to 2020 levels [50] Southwest China - Chongqing's average new housing price is approximately 6,623 CNY per square meter, returning to early 2017 levels [53] - Sichuan's average new housing price is around 8,405 CNY per square meter, showing significant fluctuations [55] - Yunnan's average new housing price is about 6,538 CNY per square meter, reverting to early 2018 levels [58] - Guizhou's average new housing price is approximately 5,443 CNY per square meter, back to mid-2018 levels [60] Northwest China - Shaanxi's average new housing price is around 10,428 CNY per square meter, returning to mid-2023 levels [66] - Gansu's average new housing price is approximately 5,911 CNY per square meter, reverting to 2018 levels [69] - Ningxia's average new housing price is about 6,296 CNY per square meter, back to early 2020 levels [71] - Qinghai's average new housing price is around 6,762 CNY per square meter, reverting to early 2019 levels [74] - Xinjiang's average new housing price is approximately 5,942 CNY per square meter, returning to 2018 levels [76]

Core Viewpoint - The article discusses the decline in housing prices across various cities in China, highlighting the changes in new and second-hand residential property prices since September 2021, and provides insights into the current state of the real estate market based on statistical data from the National Bureau of Statistics [2][3][10]. Group 1: New Housing Price Trends - From the new residential sales price index of 70 major cities, new housing prices have shown a continuous month-on-month decline since September 2021, with a slight positive growth observed in the first five months of 2023 [3][10]. - The decline in new housing prices is more pronounced in third-tier cities, which began experiencing negative month-on-month growth from September 2021, while second-tier cities started this trend in October 2021, and first-tier cities followed in September 2022 [5][10]. Group 2: Second-Hand Housing Price Trends - The second-hand housing market has also seen a continuous month-on-month decline since September 2021, with a greater decrease in prices compared to new homes [7][9]. - Similar to new housing, first-tier cities have shown relatively stronger price stability compared to second and third-tier cities, with significant declines starting later and being less severe [9][10]. Group 3: Sales Volume and Average Price Analysis - In the first half of 2025, the national new commodity housing sales area was approximately 45.851 million square meters, down 3.5% year-on-year, while the sales amount was 442.41 billion yuan, down 5.5% year-on-year [11][12]. - The average price of new commodity housing in the first half of 2025 is estimated to be around 9,649 yuan per square meter, which is comparable to the average price from five years ago [11]. - The average price of new residential housing is approximately 10,128 yuan per square meter, indicating a return to levels seen 4-5 years ago [12]. Group 4: Regional Price Variations - In Zhejiang, the average price of new commodity housing in the first half of 2025 is about 15,440 yuan per square meter, returning to 2019 levels [14]. - In Jiangsu, the average price is approximately 9,887 yuan per square meter, reflecting levels from the first half of 2018 [17]. - Other provinces such as Guangdong, Yunnan, and Sichuan also show average prices returning to levels from previous years, indicating a widespread trend across different regions [18][20][21].