China first-tier city home prices rise in August as nationwide declines narrow
In August 2026, China’s National Bureau of Statistics reported that new commodity housing prices in first-tier cities rose 0.1% month-on-month, reversing July’s flat reading. Shanghai led with a 0.4% increase, while Beijing fell 0.2%. Year-on-year declines narrowed across all tiers: first-tier new homes fell 0.9%, second-tier 2.7%, and third-tier 4.1%. Second-hand home prices in first-tier cities rose 0.1% month-on-month but fell 2.7% year-on-year. The data signals a stabilization trend in China’s housing market.
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China's August new home prices fall less sharply in first-, second- and third-tier cities
According to data from China's National Bureau of Statistics released on September 15, year-on-year declines in new commodity housing prices across first-, second-, and third-tier cities continued to narrow in August. In first-tier cities, the average decline was 0.9%, narrowing by 0.2 percentage points from July. Beijing and Shenzhen saw prices fall 2.3% each, Guangzhou dropped 1.9%, while Shanghai recorded a 3.0% increase. Second-tier cities saw a 2.7% decline (narrowing 0.1 percentage point), and third-tier cities a 4.1% decline (also narrowing 0.1 percentage point). For second-hand housing, first-tier city prices fell 2.7% year-on-year, narrowing by 1.0 percentage point, with Beijing down 3.5%, Shanghai down 0.8%, Guangzhou down 3.8%, and Shenzhen down 2.7%. Second- and third-tier cities saw second-hand price declines of 4.9% and 5.6% respectively, each narrowing by 0.2 percentage points.
Read sourceChina's August Housing Price Declines Narrow Across First-, Second-, Third-Tier Cities
Data released by China's National Bureau of Statistics on September 15 shows that year-on-year declines in commodity housing prices across first-, second-, and third-tier cities continued to narrow in August. In first-tier cities, the price of newly built commodity housing fell by 0.9% year-on-year, a 0.2 percentage point improvement from July. Within this tier, Beijing, Guangzhou, and Shenzhen saw drops of 2.3%, 1.9%, and 2.3% respectively, while Shanghai recorded a 3.0% increase. Second- and third-tier cities saw year-on-year declines of 2.7% and 4.1% in new home prices, each narrowing by 0.1 percentage points. For second-hand housing, first-tier cities experienced a 2.7% year-on-year decline, narrowing by 1.0 percentage points, with Beijing, Shanghai, Guangzhou, and Shenzhen falling 3.5%, 0.8%, 3.8%, and 2.7% respectively. Second- and third-tier cities saw second-hand home prices drop 4.9% and 5.6% year-on-year, both narrowing by 0.2 percentage points.
Read sourceChina Tier-1 City New Home Prices Rise in August; Tier-2, Tier-3 Declines Narrow
According to data from China's National Bureau of Statistics released on September 15, new commodity housing prices in first-tier cities rose 0.1% month-on-month in August, reversing a flat reading in July. Within tier-1 cities, Shanghai, Guangzhou, and Shenzhen saw increases of 0.4%, 0.1%, and 0.2% respectively, while Beijing recorded a 0.2% decline. New home prices in second-tier cities fell 0.1% month-on-month, unchanged from July, while third-tier cities saw a 0.2% drop, narrowing the decline by 0.1 percentage points. Among 70 major cities, 21 saw month-on-month increases or flat prices, down by 2 from July. In the secondary market, tier-1 city second-hand housing prices rose 0.1% month-on-month, slowing by 0.1 percentage points. Shanghai and Shenzhen rose 0.3% and 0.1% respectively, Guangzhou was flat, and Beijing fell 0.1%. Second-tier and third-tier city second-hand prices both fell 0.3% month-on-month, with the third-tier decline narrowing by 0.1 percentage points. Eight of 70 cities saw second-hand price increases or flat, unchanged from July.
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China First-Tier City New Home Prices Rise in August, Second and Third Tier Declines Narrow
According to data released by China's National Bureau of Statistics on September 15, new commodity residential housing prices in first-tier cities rose 0.1% month-on-month in August, reversing from flat in July. Shanghai saw the largest increase at 0.4%, followed by Shenzhen at 0.2% and Guangzhou at 0.1%, while Beijing prices fell 0.2%. In second-tier cities, new home prices declined 0.1% month-on-month, unchanged from July. Third-tier city prices fell 0.2%, narrowing the decline by 0.1 percentage points. Among 70 major cities, 21 recorded month-on-month increases or flat prices, down two from July. For second-hand homes, first-tier city prices rose 0.1% month-on-month, with Shanghai up 0.3% and Shenzhen up 0.1%, Guangzhou flat, and Beijing down 0.1%. Second-tier second-hand prices fell 0.3%, unchanged from July, while third-tier prices also fell 0.3%, narrowing by 0.1 percentage points. Eight cities saw second-hand price increases or flat performance, unchanged from the previous month.
Read sourceChina First-Tier City Home Prices Rise in August; Declines Narrow in Other Tiers
According to the National Bureau of Statistics, in August 2026, among 70 large and medium-sized Chinese cities, commodity residential housing prices in first-tier cities rose month-on-month. Month-on-month declines in second- and third-tier cities generally narrowed. Year-on-year declines continued to narrow across all three tiers. The data indicates a stabilization trend in China's housing market, with first-tier cities showing price increases while lower-tier cities experience slowing price drops.