Key Points
- China's four first-tier cities have seen a seventh consecutive month-on-month gain in resale home prices.
- Shanghai recorded the strongest uptick at 0.5%, while Beijing, Guangzhou, and Shenzhen saw gains of 0.1%, 0.1%, and 0.2% respectively.
- The trend suggests the resilience of China's property market, with higher-tier cities performing better.
What's Behind China's First-Tier Cities' Resale Home Price Gains
China's four first-tier cities have seen a seventh consecutive month-on-month gain in resale home prices, with Shanghai recording the strongest uptick at 0.5%. The trend suggests the resilience of China's property market, with higher-tier cities performing better.
The National Bureau of Statistics reported that pre-owned home prices in Beijing, Shanghai, Guangzhou, and Shenzhen edged up by an average of 0.2 percent last month, doubling from August's 0.1 percent increase.
Shanghai's resale home price gain was the strongest among the four cities, with prices climbing 0.5% in September. Beijing and Guangzhou saw gains of 0.1% and 0.1% respectively, while Shenzhen's prices rose 0.2%.
At a Glance
| Main Cities | Beijing, Shanghai, Guangzhou, Shenzhen China's four first-tier cities |
| Resale Home Price Gain | 0.2% Average month-on-month gain in September |
| Shanghai's Resale Home Price Gain | 0.5% Strongest uptick among the four cities |
| New-Build Home Price Gain | 0.1% In first-tier cities, extending gains for a second consecutive month |
Behind the Headlines: Shanghai's Resilience and the Market's Turning Point
Behind the Headlines: Shanghai's Resilience and the Market's Turning Point
According to Yan Yuejin, deputy director of the Shanghai-based E-House China Research and Development Institute, Shanghai has ended the three-year-long nationwide trend of falling second-hand home prices. The development shows the resilience of China's property market, with higher-tier cities doing better.
With supportive policy measures continuing to be rolled out, prices may be approaching a turning point and could stop falling soon, Yan said.
What This Means for Homebuyers and Sellers in China's First-Tier Cities
For homebuyers and sellers in China's first-tier cities, this trend suggests that prices may be stabilizing and could even start to rise in the near future.
However, it's essential to note that the market is still recovering, and prices may fluctuate in the short term.
Buyers and sellers should be cautious and monitor the market closely for any changes in trends and policies.
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