Graph and download economic data for Real Residential Property Prices for China (QCNR628BIS) from Q2 2005 to Q1 2025 about China, residential, HPI, housing, real, price index, indexes, and price.

In 2023, the average price of real estate in China was approximately ****** yuan per square meter, representing a decrease from the previous year. Rising prices in the real estate market Since the 1998 housing reform, property prices in China have been rising continuously. Housing in the country is now often unaffordable, especially considering the modest per capita income of Chinese households. Shanghai and Beijing even have some of the most competitive real estate markets in the world. The rapid growth in housing prices has increased wealth among homeowners, while it also led to a culture of speculation among buyers and real estate developers. Housing was treated as investments, with owners expecting the prices to grow further every year. Risk factors The expectation of a steadily growing real estate market has created a property bubble and a potential debt crisis. As Chinese real estate giants, such as China Evergrande and Country Garden, operate by continuously acquiring land plots and initiating new projects, which often require substantial loans and investments, a slowdown in property demands or a decline in home prices can significantly affect the financial situation of these companies, putting China’s banks in a vulnerable position. In addition, due to a lack of regulations and monetary constraints, the long-term maintenance issues of high-rise apartments are also a concern to the sustainable development of China’s cities.

Residential Property Prices in China decreased 7.52 percent in March of 2025 over the same month in the previous year. This dataset includes a chart with historical data for China Residential Property Prices.

Housing Index in China decreased by 3.50 percent in May from -4 percent in April of 2025. This dataset provides the latest reported value for - China Newly Built House Prices YoY Change - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

China Property Price: YTD Avg: Residential: Overall data was reported at 9,935.647 RMB/sq m in Mar 2025. This records a decrease from the previous number of 9,948.777 RMB/sq m for Feb 2025. China Property Price: YTD Avg: Residential: Overall data is updated monthly, averaging 5,392.835 RMB/sq m from Mar 1998 (Median) to Mar 2025, with 325 observations. The data reached an all-time high of 11,228.093 RMB/sq m in Feb 2021 and a record low of 1,757.931 RMB/sq m in Apr 1999. China Property Price: YTD Avg: Residential: Overall data remains active status in CEIC and is reported by National Bureau of Statistics. The data is categorized under China Premium Database’s Price – Table CN.PD: NBS: Property Price: Residential: Monthly.

Property Price: Residential: Beijing data was reported at 38,673.191 RMB/sq m in 2024. This records a decrease from the previous number of 46,554.064 RMB/sq m for 2023. Property Price: Residential: Beijing data is updated yearly, averaging 13,224.309 RMB/sq m from Dec 1993 (Median) to 2024, with 31 observations. The data reached an all-time high of 47,784.106 RMB/sq m in 2022 and a record low of 2,255.000 RMB/sq m in 1993. Property Price: Residential: Beijing data remains active status in CEIC and is reported by Beijing Municipal Bureau of Statistics. The data is categorized under China Premium Database’s Price – Table CN.PE: Property Price: Residential: Prefecture Level City.

In 2023, the average price for residential real estate in Shenzhen 50,010 yuan per square meter. This was the highest price among all major cities in China, with the average price across the country amounting to 16,780 yuan per square meter. A pillar of the Chinese economy China gradually abolished its welfare housing allocation system and liberalized its real estate market in the 1990s. In 2003, the government declared the real estate sector as one of the pillars of the Chinese economy. Thanks to the country's rapid economic development and urbanization, China's real estate market expanded significantly in the last two decades, with the sector accounting for about seven percent of China's GDP in 2022. Unaffordable in major urban centers While the real estate industry greatly contributed to the growth of China's economy, the housing market boom also created social issues and financial risks. In comparison to household income, property prices in major cities, most notably Shanghai, Beijing, Guangzhou, and Shenzhen, are extraordinarily expensive for average citizens. Soaring housing prices have also led to a rapid division of wealth between homeowners and renters. At the same time, debt problems created by the rapid expansion of real estate companies and the high levels of debt accumulated by Chinese citizens have created serious potential hazards for China's financial system.

In 2023, with an average price reaching 46,783 yuan per square meter, Beijing had the most unaffordable residential housing market in China. The costs for housing were also high in eastern economic powerhouses, such as the municipalities of Shanghai and Tianjin, as well as the provinces of Zhejiang, Jiangsu, and Fujian. On average, the price for apartments in the country was 10,864 yuan per square meter in 2023.

Key information about China Nominal Residential Property Price Index

• China Nominal Residential Property Price Index was reported at 124.927 2010=100 in Sep 2024.
• This records a decrease from the previous number of 128.212 2010=100 for Jun 2024.
• China Nominal Residential Property Price Index data is updated quarterly, averaging 111.271 2010=100 from Jun 2005 to Sep 2024, with 78 observations.
• The data reached an all-time high of 145.913 2010=100 in Sep 2021 and a record low of 75.868 2010=100 in Jun 2005.
• China Nominal Residential Property Price Index data remains active status in CEIC and is reported by Bank for International Settlements.
• The data is categorized under World Trend Plus’s Association: Property Sector – Table RK.BIS.RPPI: Selected Nominal Residential Property Price Index: 2010=100: Quarterly.

Property Price: YTD Avg: Beijing data was reported at 28,360.916 RMB/sq m in Mar 2025. This records a decrease from the previous number of 36,835.882 RMB/sq m for Feb 2025. Property Price: YTD Avg: Beijing data is updated monthly, averaging 19,466.029 RMB/sq m from Jan 2003 (Median) to Mar 2025, with 267 observations. The data reached an all-time high of 42,343.603 RMB/sq m in Jun 2021 and a record low of 4,515.769 RMB/sq m in Feb 2004. Property Price: YTD Avg: Beijing data remains active status in CEIC and is reported by National Bureau of Statistics. The data is categorized under China Premium Database’s Price – Table CN.PD: NBS: Property Price: Monthly.

In 2023, the average selling price of residential property in China was 10,864 yuan per square meter, a slight increase of 264 yuan from the previous year. Property prices in China have almost doubled over the past decade, but the market boom has been losing steam since around 2021.

Property Price: Residential: Guangdong: Guangzhou data was reported at 32,433.201 RMB/sq m in 2023. This records an increase from the previous number of 29,454.983 RMB/sq m for 2022. Property Price: Residential: Guangdong: Guangzhou data is updated yearly, averaging 10,925.840 RMB/sq m from Dec 1999 (Median) to 2023, with 25 observations. The data reached an all-time high of 32,433.201 RMB/sq m in 2023 and a record low of 3,946.000 RMB/sq m in 1999. Property Price: Residential: Guangdong: Guangzhou data remains active status in CEIC and is reported by Guangzhou Municipal Bureau of Statistics. The data is categorized under China Premium Database’s Price – Table CN.PE: Property Price: Residential: Prefecture Level City.

In 2022, the price for new residential property in Shanghai's inner ring dropped by more than ***** yuan per square meter, to ******* yuan per square meter. Although the local authorities introduced policies to stabilize the market, the real estate market in Shanghai’s central districts remained under downward pressure, similar to those experienced by other major cities in China. The most competitive real estate market in the country Home prices in Shanghai are among the most expensive globally. The area within the city's inner ring road is certainly one of the most competitive real estate markets in all of China, with property prices nearly *********** higher than those outside the outer ring road. Rising prices are far beyond the reach of ordinary residents, and the few who can afford to buy often have to take out substantial mortgages for their homes, resulting in a high proportion of real estate in their personal assets. Challenges facing China’s real estate sector The high level of indebtedness of the Chinese people and the bubbles in the country's real estate sector have become one of the major risks to China's economy. While developers expanded through continuous borrowing and the sale of off-plan properties to homebuyers, the market saw a significant excess of housing supply in most regions. There have also been instances in recent years where developers have had difficulties in completing construction projects or in repaying their loans or bonds. Addressing the risks in China's real estate sector, particularly in companies such as the Evergrande Group and Country Garden, has become an urgent task to ensure China's economic stability and prosperity.

In 2023, the average price of residential housing sold in Shanghai, the most important economic hub of China, reaching ****** yuan per square meter, making the city one of the least affordable cities in the country. The housing market boom Since the housing reform in the 1990s, the prices of homes in Shanghai have increased almost every year, thanks to the growth of the city’s population and, thus, the high demands in the housing market. The high property prices gradually became out of reach for most residents, who earn an annual per capita income of only ******* yuan in 2023. Residential properties in the city center were especially unaffordable, as newly built homes located within Shanghai's inner ring road had an average price of ******* yuan in 2023, ********* more expensive than their counterparts outside the outer ring road. Risks and interventions The high price not only made living in the city expensive for its residents, but also posed a grave risk to China’s financial system. In the first 20 years of this century, the total value of personal housing mortgage loans in Shanghai increased by ******************, and defaults of any moderate scale can be consequential. Therefore, both the central and the municipal authorities had been attempting to curb the continuous rise of property costs in Shanghai, through the increase in the supply of housing stocks and policies limiting speculations in the market. However, most measures were not as effective as anticipated.

Despite a slowdown in the country's economy, property prices remained relatively high across China in 2023. In Shanghai, the average prices for residential housing exceeded ****** yuan per square meter, making the metropolis one of the most expensive cities to live in globally. Meanwhile, many less developed regions, such as the provinces of Guizhou, Gansu, and Guangxi, had average housing prices below ***** yuan per square meter. High property prices in major cities The commodification of real estate in the 1990s led to a rapid rise in property prices across China over the last three decades. Between 1998 and 2023, average property prices in China ************************* to more than ****** yuan per square meter. The cost of housing in core areas of major urban centers such as Shenzhen, Shanghai, and Beijing can often reach unaffordable levels, even for the middle class. Key drivers behind the housing price rise Due to the regional disparities in the country, China's rapid urbanization resulted in a high influx of internal migrants into its eastern cities, resulting in a short housing supply across many regions. At the same time, due to China's unique land and tax system, local governments are often highly dependent on land transfer revenues for their finances. As a result, many regional authorities tend to restrict the supply of available land in the market, further exacerbating property price rises across the country.

The China Residential Real Estate Market is Segmented by Property Type (Apartments & Condominiums and Villas & Landed Houses), Price Band (Affordable, Mid-Market and Luxury), Mode of Sale (Primary and Secondary), Business Model (Sales and Rental) and Key Cities (Shenzhen, Beijing, Shanghai, Hangzhou, Guangzhou, and Other Key Cities). The Market Forecasts are Provided in Terms of Value (USD).

In 2024, the consumer price index for rents of residential housing in China ranged at 99.8 percent compared to the previous year (previous year=100). Since 2019, annual average prices for apartment rents in China have decreased slightly most of the years.

Source Code: Q:CN:N:628

Coverage includes Q1 2007-Q4 2015: New dwellings in 70 cities in China; from Q1 2016: Existing buildings in 70 cities in China.

For more information, please see https://www.bis.org/statistics/pp_detailed.htm.

Any use of the series shall be cited as follows: "Sources: National sources, BIS Residential Property Price database, http://www.bis.org/statistics/pp.htm."

Copyright, 2016, Bank for International Settlements (BIS). Terms and conditions of use are available at http://www.bis.org/terms_conditions.htm#Copyright_and_Permissions.

Real residential property prices Y-on-Y, percent change in China, December, 2024 The most recent value is -8.75 percent as of Q4 2024, an increase compared to the previous value of -9.03 percent. Historically, the average for China from Q2 2006 to Q4 2024 is 0.47 percent. The minimum of -9.03 percent was recorded in Q3 2024, while the maximum of 7.7 percent was reached in Q2 2010. | TheGlobalEconomy.com

Key information about China Gold Production

• China Real Residential Property Price Index was reported at 93.823 2010=100 in Sep 2024.
• This records a decrease from the previous number of 96.851 2010=100 for Jun 2024.
• China Real Residential Property Price Index data is updated quarterly, averaging 99.037 2010=100 from Jun 2005 to Sep 2024, with 78 observations.
• The data reached an all-time high of 112.991 2010=100 in Sep 2021 and a record low of 87.950 2010=100 in Jun 2005.
• China Real Residential Property Price Index data remains active status in CEIC and is reported by Bank for International Settlements.
• The data is categorized under World Trend Plus’s Association: Property Sector – Table RK.BIS.RPPI: Selected Real Residential Property Price Index: 2010=100: Quarterly. [COVID-19-IMPACT]