YoY Decline in Commercial Residential Property Prices Narrows Across All City Tiers

[YoY Decline in Selling Prices of Commercial Residential Properties in Cities of All Tiers Continued to Narrow]

In February, the YoY selling price of newly built commercial residential properties in first-tier cities decreased by 3.0%, with the decline narrowing by 0.4 percentage points compared to the previous month. Among them, Shanghai rose by 5.6%, while Beijing, Guangzhou, and Shenzhen decreased by 5.5%, 7.8%, and 4.4%, respectively. The YoY selling price of second-hand residential properties in first-tier cities decreased by 4.9%, with the decline narrowing by 0.7 percentage points. Specifically, Beijing, Shanghai, Guangzhou, and Shenzhen decreased by 2.9%, 2.1%, 9.4%, and 5.3%, respectively.

In February, the YoY selling prices of newly built and second-hand commercial residential properties in second-tier cities decreased by 4.7% and 7.4%, respectively, with the declines narrowing by 0.3 and 0.2 percentage points, respectively, compared to the previous month. In third-tier cities, the YoY selling prices of newly built and second-hand commercial residential properties decreased by 5.9% and 8.0%, respectively, with the declines narrowing by 0.1 and 0.2 percentage points, respectively.