According to the National Bureau of Statistics, in March 2024, the volume of newly built commercial housing and second-hand housing transactions in 70 large and medium-sized cities increased compared to the previous period. The decline in commercial residential sales prices in various tier cities narrowed slightly from month to month, and the year-on-year decline increased. In March, sales prices of newly built commercial residential homes in first-tier cities fell 0.1% month-on-month, and the decline was 0.2 percentage points narrower than the previous month. Among them, Beijing remained flat, Shanghai rose 0.5%, and Guangzhou and Shenzhen fell 0.7% and 0.4%, respectively. Sales prices of newly built commercial residential homes in third-tier cities fell 0.3% and 0.4%, respectively. The declines were the same as last month. In March, second-hand residential sales prices in first-tier cities fell 0.7% month-on-month, and the decline was 0.1 percentage points narrower than the previous month. Among them, Beijing, Shanghai, Guangzhou and Shenzhen fell 0.4%, 0.3%, 1.0%, and 1.0%, respectively. Second-hand residential sales prices in third-tier cities all fell 0.5% month-on-month, and the declines were all 0.1 percentage points narrower than the previous month.

In March, sales prices of newly built commercial homes in first-tier cities fell 1.5% year on year, an increase of 0.5 percentage points over the previous month. Among them, Beijing and Shanghai rose 0.8% and 4.3% respectively, while Guangzhou and Shenzhen both declined 5.5%. Sales prices of newly built commercial residential homes in second- and third-tier cities decreased by 2.0% and 3.4%, respectively. The declines increased by 0.9 and 0.7 percentage points, respectively, from the previous month. In March, second-hand residential sales prices in first-tier cities fell 7.3% year on year, an increase of 1.0 percentage point over the previous month. Among them, Beijing, Shanghai, Guangzhou and Shenzhen fell 6.4%, 6.9%, 8.6%, and 7.4%, respectively. Second-hand residential sales prices in second- and third-tier cities decreased by 5.9% and 5.7%, respectively. The declines were 0.8 and 0.6 percentage points higher than the previous month, respectively.