China New Home Prices Drop the Least in 14 Months

China’s new home prices in 70 cities declined by 3.2% year-on-year in June 2025, slowing from a 3.5% drop in the previous month.

While marking the 24th consecutive month of contraction, the latest reading was the slowest pace since April 2024 amid ongoing attempts by Beijing to mitigate the impact of the prolonged property weakness.

Among major cities, prices decreased in Beijing (-4.1% vs -4.3% in May), Guangzhou (-5.1% vs -5.8%), Shenzhen (-2.5% vs -2.6%), Tianjin (-1.8% vs -2.0%), and Chongqing (-2.9% vs -3.2%).

In contrast, prices in Shanghai continued to increase (6.0% vs 5.9%).

On a monthly basis, however, new home prices fell 0.3% in June, after a 0.2% decrease in May, extending the downturn that began in May 2023.