China Housing Index

China’s new home prices across 70 cities dropped 2.4% year-on-year in November 2025, deepening from a 2.2% decline in the previous two months. The latest reading marked the 29th consecutive month of price declines and the steepest pace since August, underscoring Beijing’s ongoing struggle to counter the prolonged weakness in the property sector. Prices fell at a quicker pace in Beijing (-2.1% vs. -2.0% in October), Guangzhou (-4.3% vs. -4.2%), Shenzhen (-3.7% vs. -2.6%), Chongqing (-2.9% vs. -2.6%), and Tianjin (-2.2% vs. -1.5%). Meanwhile, costs in Shanghai eased (5.1% vs 5.7%). On a monthly basis, prices were 0.4% lower, after a 0.5% fall in October.