China Tier-1 New Home Prices Down 2.1% YoY in April 2026

China's tier-1 new home prices fell 2.1% year-on-year in April 2026, according to data from the National Bureau of Statistics (NBS). The decline narrowed by 0.1 percentage point from the previous month.

Among tier-1 cities, Shanghai saw a 3.7% year-on-year increase, while Beijing, Guangzhou and Shenzhen recorded declines of 2.3%, 4.4% and 5.3%, respectively. In tier-2 cities, new home prices fell 3.3% year-on-year, unchanged from the prior month. Tier-3 cities posted a 4.1% year-on-year decline, widening by 0.1 percentage point.

In the second-hand housing market, tier-1 cities saw prices drop 6.8% year-on-year, narrowing by 0.6 percentage point. Beijing fell 7.4%, Shanghai 5.6%, Guangzhou 7.9% and Shenzhen 6.5%. Tier-2 second-hand prices declined 5.9% (narrowing 0.3 percentage point), and tier-3 second-hand prices fell 6.3% (narrowing 0.1 percentage point).

On a month-on-month basis, 16 out of 70 major cities recorded rising or flat second-hand prices in April, down from 17 in March.

These figures are based on the NBS classification: tier-1 cities (Beijing, Shanghai, Guangzhou, Shenzhen), tier-2 (31 cities including Tianjin, Nanjing, Hangzhou, etc.), and tier-3 (35 cities including Tangshan, Wuxi, etc.).

Source: National Bureau of Statistics of China. Original: https://www.stats.gov.cn/sj/sjjd/202605/t20260518_1963721.html