In August 2026, out of 70 large and medium-sized cities, commercial residential sales prices rose month-on-month in first-tier cities. The overall month-on-month decline in second- and third-tier cities narrowed, and the year-on-year decline in Tier 1, 2, and 3 cities continued to narrow. Commercial residential sales prices in first-tier and first-tier cities rose month-on-month, while the overall month-on-month decline in second- and third-tier cities narrowed in August. Sales prices of newly built commercial residential homes in first-tier cities changed from flat last month to 0.1% month-on-month increase. Among them, Shanghai, Guangzhou and Shenzhen rose 0.4%, 0.1%, and 0.2%, respectively, while Beijing declined 0.2%. Sales prices of newly built commercial residential homes in second-tier cities fell 0.1% month-on-month, the same decline as last month. Sales prices of newly built commercial residential homes in third-tier cities fell 0.2% month-on-month, and the decline was 0.1 percentage points narrower than the previous month. Of the 70 large and medium-sized cities, sales prices of newly built commercial residential homes rose or remained flat in 21 cities, a decrease of 2 from the previous month. In August, second-hand residential sales prices in first-tier cities rose 0.1% month-on-month, down 0.1 percentage points from the previous month. Among them, Shanghai and Shenzhen rose 0.3% and 0.1% respectively, Guangzhou remained flat, and Beijing declined 0.1%. Second-hand residential sales prices in second-tier cities fell 0.3% month-on-month, the same decline as last month. Second-hand residential sales prices in third-tier cities fell 0.3% month-on-month, and the decline was 0.1 percentage points narrower than the previous month. Of the 70 large and medium-sized cities, second-hand housing sales prices rose or remained flat in 8 cities, the same as last month. The year-on-year decline in commercial residential sales prices in Tier 1, 2, and 3 cities continued to narrow. In August, sales prices of newly built commercial residential homes in Tier 1 cities fell 0.9% year on year, and the decline was 0.2 percentage points narrower than the previous month. Among them, Beijing, Guangzhou, and Shenzhen declined by 2.3%, 1.9%, and 2.3%, respectively, while Shanghai rose 3.0%. The sales price of newly built commercial residential homes in second- and third-tier cities decreased by 2.7% and 4.1%, respectively, over the same period last year, and both narrowed by 0.1 percentage points. In August, second-hand residential sales prices in first-tier cities fell 2.7% year on year, and the decline was 1.0 percentage point narrower than the previous month. Among them, Beijing, Shanghai, Guangzhou and Shenzhen declined by 3.5%, 0.8%, 3.8%, and 2.7%, respectively. Second-hand residential sales prices in second- and third-tier cities fell by 4.9% and 5.6%, respectively, over the same period last year, and both narrowed by 0.2 percentage points.

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