The year-on-year decline in sales prices of commodity residences in various cities has slightly expanded.
On June 17th, the National Bureau of Statistics released the sales price changes of residential commodities in 70 large and medium-sized cities in May 2024.
In May, the sales prices of commodity residences in various cities in 70 large and medium-sized cities decreased month-on-month, with a slight increase compared to the same period last year.
Among them, Beijing, Guangzhou, and Shenzhen decreased by 1.1%, 1.4%, and 0.8%, respectively, while Shanghai increased by 0.6%. The month-on-month sales prices of newly-built commodity residences in second- and third-tier cities decreased by 0.7% and 0.8%, respectively, and the decline expanded by 0.2 percentage points compared to last month.
Prices of new housing in two cities increased, with Shanghai leading.
In May, the sales prices of newly-built commodity residences in first-tier cities decreased by 0.7% month-on-month, with a decline expanded by 0.1 percentage points compared to last month. Among them, Beijing, Guangzhou, and Shenzhen decreased by 1.1%, 1.4%, and 0.8%, respectively, while Shanghai increased by 0.6%. The month-on-month sales prices of newly-built commodity residences in second- and third-tier cities decreased by 0.7% and 0.8%, respectively, and the decline expanded by 0.2 percentage points compared to last month.
Compared to the same period last year, the sales prices of newly-built commodity residences in first-tier cities decreased by 3.2%, with a decline expanded by 0.7 percentage points compared to last month. Among them, Beijing, Guangzhou, and Shenzhen decreased by 1.8%, 8.3%, and 7.4%, respectively, while Shanghai increased by 4.5%. The sales prices of newly-built commodity residences in second- and third-tier cities decreased by 3.7% and 4.9% year-on-year, respectively, and the decline increased by 0.8 and 0.7 percentage points compared to last month.
![](https://postimg.futunn.com/news-editor-imgs/20240617/public/17185913850307207947640.png)
The decline in the price of second-hand housing has expanded slightly.
In May, the sales prices of second-hand residences in first-tier cities decreased month-on-month by 1.2%, with a decline expanded by 0.1 percentage point compared to last month. Among them, Beijing, Shanghai, Guangzhou, and Shenzhen decreased by 1.2%, 1.3%, 1.6%, and 1.0%, respectively. The month-on-month sales prices of second-hand residences in second-tier cities decreased by 1.0%, with a decline expanded by 0.1 percentage point compared to last month. The month-on-month sales prices of second-hand residences in third-tier cities decreased by 0.9%, the same as the previous month.
Compared to the same period last year, the sales prices of second-hand residences in first-tier cities declined by 9.3%, with a decline expanded by 0.8 percentage points compared to last month. Among them, Beijing, Shanghai, Guangzhou, and Shenzhen decreased by 8.6%, 7.9%, 11.4%, and 9.2%, respectively. The sales prices of second-hand residences in second- and third-tier cities decreased by 7.5% and 7.3%, respectively, and the decline expanded by 0.7 percentage point compared to last month.
![](https://postimg.futunn.com/news-editor-imgs/20240617/public/171859138516128990802.png)
Changes in house prices in Beijing, Shanghai, Guangzhou, and Shenzhen in May.
In May, the month-on-month sales prices of newly-built commodity residences in Beijing increased by 0% (previous value +0.2%), with a year-on-year increase of 14.6% (previous value of 17.4%).
In May, the month-on-month sales prices of newly-built commodity residences in Shanghai increased by 0% (previous value of -0.2%), with a year-on-year increase of 12.9% (previous value of 15.4%).
In May, the month-on-month sales prices of newly-built commodity residences in Shenzhen decreased by 0.6% (previous value 0%), with a year-on-year increase of 5.5% (previous value of 6.7%).
In May, the month-on-month sales prices of newly-built commodity residences in Guangzhou increased by 0.9% (previous value of 1.4%), with a year-on-year increase of 19.5% (previous value of 21.7%).