Source: Wall Street News
On Tuesday, April 16, the National Bureau of Statistics released data saying that 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, and the decline in commercial residential sales prices in various tier cities narrowed slightly from month to month, and the year-on-year decline increased.
1. The month-on-month decline in commercial residential sales prices in various tier cities narrowed slightly
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 second- and third-tier cities fell by 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 second- and third-tier cities all fell 0.5% month-on-month, and the declines were 0.1 percentage points narrower than last month.
2. The year-on-year decline in commercial residential sales prices in various tier cities increased
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-tier 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.
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