CCTV News: According to the website of the National Bureau of Statistics, Wang Zhonghua, chief statistician of the Urban Department of the National Bureau of Statistics, interprets the statistical data on changes in the sales prices of commercial housing in February 2025.

In February 2025, from a month-on-month perspective, affected by factors such as the off-season of the Spring Festival, among the 70 large and medium-sized cities, the overall sales prices of commercial housing in all tier cities have fallen slightly, among which the sales prices of newly built commercial housing in first-tier cities have risen. From a year-on-year perspective, the decline in sales prices of commercial housing in all tier cities continued to narrow.

1. The sales prices of commercial housing in all tier cities generally remained stable and slightly lower month-on-month, among which the newly built commercial housing in first-tier cities continued to rise month-on-month.

In February, the sales prices of commercial housing in first-tier cities rose by 0.1% month-on-month, the same as last month. Among them, Beijing, Shanghai and Shenzhen rose by 0.1%, 0.2% and 0.4% respectively, while Guangzhou fell by 0.2%. The sales prices of second-hand residential properties in first-tier cities changed from a month-on-month increase of 0.1% to a decrease of 0.1%. Among them, Shenzhen rose 0.3%, Beijing remained the same, while Shanghai and Guangzhou fell 0.4% and 0.3% respectively.

In February, the sales price of newly built commercial housing in second-tier cities turned from a month-on-month increase of 0.1% last month to a flat rate; second-hand housing fell by 0.4% month-on-month, an increase of 0.1 percentage point from the previous month. The sales price of newly built commercial housing in third-tier cities fell by 0.3% month-on-month, an increase of 0.1 percentage point; the second-hand housing fell by 0.4% month-on-month, the same as last month.

2. The year-on-year decline in commercial housing sales prices in all tier cities continued to narrow

In February, the year-on-year sales prices of newly built commercial housing in first-tier cities fell by 3.0%, a decrease of 0.4 percentage points from the previous month. Among them, Shanghai rose 5.6%, while Beijing, Guangzhou and Shenzhen fell 5.5%, 7.8% and 4.4% respectively. The sales prices of second-hand residential properties in first-tier cities fell by 4.9% year-on-year, with a decrease of 0.7 percentage points, of which Beijing, Shanghai, Guangzhou and Shenzhen fell by 2.9%, 2.1%, 9.4% and 5.3% respectively.

In February, the sales prices of newly built commercial housing and second-hand housing in second-tier cities fell by 4.7% and 7.4% year-on-year, respectively, with a decrease of 0.3 and 0.2 percentage points from the previous month. The sales prices of newly built commercial housing and second-hand housing in third-tier cities fell by 5.9% and 8.0% year-on-year respectively, with the decline narrowing by 0.1 and 0.2 percentage points respectively.