China's second-hand home prices in core cities decline further in Aug as market pressures mount

Second-hand home prices in China's four tier-one cities declined 1% month on month in August, marking the fifth consecutive months of decline. Core urban areas are seeing sharper drops, with some mid- to high-end compounds down 25-30% from their peaks, as increased new-home supply and shifting buyer preference weigh on the market.

According to data released by the National Bureau of Statistics (NBS) on September 15, second-hand home prices in first-tier cities -- Beijing, Shanghai, Guangzhou and Shenzhen -- fell by 1% month on month in August, in line with the decline in the previous month and falling for the fifth