NBS Releases April Housing Prices: Flat in First-Tier, Steady Decline in Third-Tier Cities

[National Bureau of Statistics (NBS): Housing Prices in 70 Medium-to-Large Sized Cities Released in April]

On May 19, the NBS announced that in April, the selling prices of newly-built commercial residential buildings in first-tier cities remained flat MoM, reversing from a 0.1% increase MoM in the previous month. Specifically, Beijing and Shanghai saw increases of 0.1% and 0.5%, respectively, while Guangzhou and Shenzhen experienced decreases of 0.2% and 0.1%, respectively. In second-tier cities, the selling prices of newly-built commercial residential buildings remained flat MoM, unchanged from the previous month. In third-tier cities, the selling prices of newly-built commercial residential buildings decreased by 0.2% MoM, with the decline unchanged from the previous month.