China Housing Index

China’s new home prices in 70 cities fell by 4.5% year-on-year in March 2025, easing slightly from a 4.8% decline in February. This marked the 21st consecutive month of declines but represented the slowest pace since last June, amid the country’s latest efforts to support the property market. Chinese policymakers have introduced various support measures in recent months to prop up the sector, including easier access to cash for developers, cuts in mortgage rates, and relaxed home-buying rules. Among major cities, prices continued to decline in Beijing (-5.7% vs -5.5% in February), Guangzhou (-7.2% vs -7.6%), Shenzhen (-3.9% vs -4.4%), Tianjin (-2.2% vs -2.8%), and Chongqing (-5.5% vs -5.4%). In contrast, prices in Shanghai rose further (5.7% vs 5.6%). On a monthly basis, new home prices were unchanged, following a 0.1% fall in the previous month.