National Bureau of Statistics: July sales price of commercial housing in cities was stable and slightly decreased

According to the National Bureau of Statistics, in July, the number of 70 large- and medium-sized cities where commodity housing prices rose decreased, and the sales price of commercial housing in cities was flat or down compared with the previous year. In terms of new commercial housing, in July, the sales price of new commercial housing in first-tier cities remained flat for two consecutive months, of which Beijing and Shanghai rose 0.4% and 0.2% respectively, while Guangzhou and Shenzhen fell 0.2% and 0.6% respectively. The sales price of new commercial residential buildings in second-tier cities fell 0.2% from flat in the previous month. The sales price of new residential buildings in third-tier cities fell 0.3 % MoM, 0.2 percentage points higher than the previous month. In terms of second-hand housing, in July, the sales price of second-hand housing in first-tier cities fell by 0.8% MoM, 0.1 percentage points higher than the previous month. The sales price of second-hand residential buildings in second-tier cities fell 0.5% MoM, 0.1 percentage points higher than the previous month. Prices of second-hand homes in third-tier cities fell 0.4 % MoM, the same decline as the previous month. In July, among 70 large- and medium-sized cities, the sales prices of new commercial housing and second-hand housing rose in 20 and 6 cities respectively, 11 and 1 fewer than the previous month.