The decline in prices of commercial residential properties in China's 70 large and medium-sized cities continued to ease on a year-on-year basis in June, official data showed on Tuesday.
In the four first-tier cities, namely, Beijing, Shanghai, Guangzhou, and Shenzhen, new home prices dropped 1.4 percent from a year earlier, with the pace of decline narrowing by 0.3 percentage points from May, according to the National Bureau of Statistics (NBS).
"The continuous rollout of a comprehensive package of policies has significantly improved the confidence of all parties in the market," said Yu Xiaofen, dean of the China Housing and Real Estate Research Institute at Zhejiang University of Technology.
Cranes operate at an urban construction site surrounded by residential and commercial high-rise buildings, as development continues in the densely built city of Chongqing, China, June 5, 2025. /VCG
Notably, Shanghai, the country's economic hub, recorded a 6 percent year-on-year increase in new home prices last month, the NBS said.
Second- and third-tier cities saw new home prices fall by 3 percent and 4.6 percent year-on-year in June, with the declines narrowing by 0.5 and 0.3 percentage points, respectively.
Amid the government's push to revive consumption and address housing needs, more than 340 property-related policies were introduced across the country in the first half of 2025. Over 60 cities implemented home purchase incentives and trade-in schemes, aimed at supporting both rigid demand and upgrading households.
Read the original text：https://news.cgtn.com/news/2025-07-15/China-s-home-price-decline-continues-to-ease-amid-policy-support-1F1PStW3Hry/p.html