According to the latest data from the China Index Research Institute, the property market entered the traditional low season in August, and some key cities such as Shanghai, Hangzhou, Chengdu, and Tianjin still had high-quality properties entering the market, driving the price of new homes in Baicheng to continue to rise structurally. The average price of newly built homes in Baicheng was 17,255 yuan/square meter, up 0.15% month-on-month and 2.04% year-on-year. Prices of newly built homes in first-tier cities rose 0.39% month-on-month and 5.30% year-on-year. Among them, Shanghai, Beijing, and Guangzhou rose 0.53%, 0.25%, and 0.13% month-on-month respectively. The rise in new housing prices is still mainly driven by new high-priced properties entering the market. Second-tier cities rose 0.09% month-on-month and 1.74% year-on-year. The third- and fourth-tier representative cities fell 0.12% month-on-month and 2.29% year-on-year.

According to the latest data from the China Index Research Institute, the property market entered the traditional low season in August, and some key cities such as Shanghai, Hangzhou, Chengdu, and Tianjin still had high-quality properties entering the market, driving the price of new homes in Baicheng to continue to rise structurally. The average price of newly built homes in Baicheng was 17,255 yuan/square meter, up 0.15% month-on-month and 2.04% year-on-year. Prices of newly built homes in first-tier cities rose 0.39% month-on-month and 5.30% year-on-year. Among them, Shanghai, Beijing, and Guangzhou rose 0.53%, 0.25%, and 0.13% month-on-month respectively. The rise in new housing prices is still mainly driven by new high-priced properties entering the market. Second-tier cities rose 0.09% month-on-month and 1.74% year-on-year. The third- and fourth-tier representative cities fell 0.12% month-on-month and 2.29% year-on-year.