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China's First-Tier City Home Prices Fall 1.7% YoY in May, Price Decline Narrowing

2026-06-16 01:35:26

According to China's National Bureau of Statistics, new home prices in first-tier cities fell 1.7% year-over-year in May, with the decline narrowing by 0.4 percentage points from April. Among them, Shanghai rose 3.2%, while Beijing, Guangzhou, and Shenzhen fell 2.1%, 3.3%, and 4.5%, respectively. Second-tier cities saw prices decline 3.2% year-over-year, narrowing by 0.1 percentage point. Third-tier cities experienced a 4.2% year-over-year decline, with the contraction expanding by 0.1 percentage point.

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