Yang Caifang, senior statistician of the Urban Department of the National Bureau of Statistics, interprets the statistical data on sales price changes of commercial housing in September 2026

In September 2026, among the 70 large and medium-sized cities, the sales prices of commercial residential buildings in first-tier cities continued to rise month-on-month, while the month-on-month decreases in second- and third-tier cities generally narrowed.

1. The sales price of commercial housing in first-tier cities continued to rise month-on-month, while the month-on-month decrease in second- and third-tier cities generally narrowed.

In September, the sales price of newly built commercial housing in first-tier cities increased by 0.1% month-on-month, the same increase as the previous month. Among them, Shanghai, Guangzhou and Shenzhen increased by 0.2%, 0.2% and 0.3% respectively, while Beijing fell by 0.2%. The sales price of newly built commercial residential buildings in second-tier cities remained unchanged from a month-on-month decrease of 0.1%. The sales price of newly built commercial housing in third-tier cities fell by 0.2% month-on-month, the same rate of decline as last month. Among the 70 large and medium-sized cities, 17 cities saw a month-on-month increase in the sales price of newly built commercial housing, an increase of 2 from the previous month.

In September, the sales price of second-hand housing in first-tier cities increased by 0.2% month-on-month, an increase of 0.1 percentage points from the previous month. Among them, Beijing, Shanghai, Guangzhou and Shenzhen increased by 0.1%, 0.5%, 0.1% and 0.2% respectively. The sales price of second-hand housing in second-tier cities fell by 0.2% month-on-month, and the decline narrowed by 0.1 percentage point from the previous month. The sales price of second-hand housing in third-tier cities fell by 0.3% month-on-month, the same rate of decline as last month. Among the 70 large and medium-sized cities, 9 cities saw second-hand residential sales prices increase month-on-month, an increase of 6 from the previous month.

The year-on-year decline in sales prices of commercial housing in second-, first-, second- and third-tier cities all narrowed

In September, the sales price of newly built commercial housing in first-tier cities fell by 0.5% year-on-year, and the decline narrowed by 0.4 percentage points from the previous month. Among them, Beijing, Guangzhou and Shenzhen decreased by 2.7%, 1.1% and 1.0% respectively, while Shanghai increased by 2.8%. The sales prices of newly built commercial residential buildings in second- and third-tier cities fell by 2.4% and 3.9% respectively year-on-year, with the decline narrowing by 0.3 and 0.2 percentage points respectively.

In September, the sales price of second-hand housing in first-tier cities fell by 1.5% year-on-year, and the rate of decline narrowed by 1.2 percentage points from the previous month. Among them, Beijing, Guangzhou and Shenzhen decreased by 2.5%, 2.9% and 1.5% respectively, while Shanghai increased by 0.8%. The sales price of second-hand housing in second- and third-tier cities fell by 4.5% and 5.4% year-on-year respectively, with the decline narrowing by 0.4 and 0.2 percentage points respectively.

Note:

Real estate price statistics of 70 large and medium-sized cities are divided into first, second and third tier cities: first tier cities refer to 4 cities including Beijing, Shanghai, Guangzhou and Shenzhen; second tier cities refer to Tianjin, Shijiazhuang, Taiyuan, Hohhot, Shenyang, Dalian, Changchun, Harbin, Nanjing, Hangzhou, Ningbo, Hefei, Fuzhou, Xiamen, Nanchang, Jinan, Qingdao, Zhengzhou, Wuhan, Changsha, Nanning, Haikou, Chongqing, Chengdu, Guiyang, Kunming, Xi'an, Lanzhou , Xining, Yinchuan, Urumqi and other 31 cities; third-tier cities refer to Tangshan, Qinhuangdao, Baotou, Dandong, Jinzhou, Jilin, Mudanjiang, Wuxi, Xuzhou, Yangzhou, Wenzhou, Jinhua, Bengbu, Anqing, Quan 35 cities including Zhouzhou, Jiujiang, Ganzhou, Yantai, Jining, Luoyang, Pingdingshan, Yichang, Xiangyang, Yueyang, Changde, Shaoguan, Zhanjiang, Huizhou, Guilin, Beihai, Sanya, Luzhou, Nanchong, Zunyi, and Dali.