In April, the YoY decrease in sales prices of commercial residential properties in 70 large and medium-sized cities in China continued to narrow across all city tiers, data released by the National Bureau of Statistics (NBS) showed.

In T1 cities, the sales price of newly built commercial residential properties dropped 2.1% YoY, with the downtrend slowing by 0.7 ppts compared to the previous month. Among them, Shanghai gained 5.9%, while Beijing, Guangzhou, and Shenzhen sank 5%, 6.3%, and 3% respectively.

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In T2/ 3 cities, the sales prices of newly built commercial residential properties shed 3.9% and 5.4% YoY, with the declines slimming by 0.5 and 0.3 ppts respectively.