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.

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.

China Property Price: YTD Avg: Overall data was reported at 9,510.153 RMB/sq m in Mar 2025. This records a decrease from the previous number of 9,547.228 RMB/sq m for Feb 2025. China Property Price: YTD Avg: Overall data is updated monthly, averaging 5,157.474 RMB/sq m from Dec 1995 (Median) to Mar 2025, with 352 observations. The data reached an all-time high of 11,029.538 RMB/sq m in Feb 2021 and a record low of 599.276 RMB/sq m in Feb 1996. China Property Price: YTD Avg: 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: Monthly.

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.

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.

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).

Key information about House Prices Growth

• China house prices dropped 4.1% YoY in Dec 2024, following a decrease of 4.8% YoY in the previous month.
• YoY growth data is updated monthly, available from Mar 1999 to Dec 2024, with an average growth rate of 7.4%.
• House price data reached an all-time high of 25.0% in Feb 2010 and a record low of -12.6% in Apr 1999.

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.

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.

House Price Index MoM in China decreased to -0.20 percent in May from 0 percent in April of 2025. This dataset includes a chart with historical data for China House Price Index MoM.

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.

China Real Estate Market, valued at USD 5.30T in 2024, is projected to reach USD 6.98T by 2030, growing at a 3.9% CAGR from 2025 to 2030.

House price index in China, December, 2024 The most recent value is 122.7 index points as of Q4 2024, a decline compared to the previous value of 124.93 index points. Historically, the average for China from Q2 2005 to Q4 2024 is 113.45 index points. The minimum of 75.87 index points was recorded in Q2 2005, while the maximum of 145.91 index points was reached in Q3 2021. | TheGlobalEconomy.com

Property Price: YTD Avg: Shanghai data was reported at 39,575.041 RMB/sq m in Mar 2025. This records an increase from the previous number of 38,438.579 RMB/sq m for Feb 2025. Property Price: YTD Avg: Shanghai data is updated monthly, averaging 16,245.712 RMB/sq m from Jan 2003 (Median) to Mar 2025, with 267 observations. The data reached an all-time high of 49,301.406 RMB/sq m in Feb 2021 and a record low of 3,659.000 RMB/sq m in Feb 2003. Property Price: YTD Avg: Shanghai 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.

The China Office Real Estate Market Report is Segmented by Building Grade (Grade A, Grade B, and More), by Transaction Type (Rental and Sales), by End Use (Information Technology (IT & ITES), BFSI (Banking, Financial Services and Insurance), and More) and by Major Cities (Beijing, Shanghai, Shenzhen and More). The Report Offers Market Size and Forecasts in Value (USD) for all the Above Segments.

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.

Revenue for the Real Estate Development and Management industry in China is expected to decrease at a CAGR of 9.4% over the five years through 2025. This trend includes an expected decrease of 8.8% in the current year.Since August 2020, the People's Bank of China and the China Banking and Insurance Regulatory Commission have proposed three debt indicators for real estate development and management companies through which the company's financial health can be rated. This new policy has exacerbated the company's debt pressure, making it unable to repay old debts by borrowing new debt. Some real estate companies faced a liquidity crisis.In 2022, the city's lockdown and laying-off caused by COVID-19 epidemic led to the pressure of delaying the delivery of houses. The industry's newly constructed and completed areas decreased significantly throughout the year. In addition, the epidemic has also impacted sales of the industry, and some sales offices have been forced to close temporarily. In 2022, the sales area of commercial housing decreased by 24.3%, and the sales of commercial housing decreased significantly by 29.8%.Industry revenue will recover at an annualized 0.8% over the five years through 2030. Over the next five years, the industry's drag on GDP will weaken, and industry growth will stabilize. However, high housing prices have become a major social problem in China. Under the measures on the principle that residential real estate is used for living, not speculation, the financial attributes of real estate will gradually weaken, and housing prices will tend to stabilize.

The China Luxury Residential Real Estate Market Report is segmented by type (villas and landed houses, apartments and condominiums) and by cities (Beijing, Wuhan, Shanghai, Shenzhen, Guangzhou and Other cities). The report offers market size and forecasts for the China Luxury Residential Real Estate Market in value (USD billion) for all the above segments.

The China office real estate market, valued at approximately $XX million in 2025 (assuming a logical extrapolation based on the provided CAGR of >5.50% and market size XX), presents a dynamic and rapidly evolving landscape. Key growth drivers include the continued expansion of China's IT and ITES sector, robust growth in the BFSI industry, and the increasing demand for modern, efficient office spaces in major cities like Beijing and Shanghai. These factors are contributing to a compound annual growth rate exceeding 5.50%, projecting significant market expansion through 2033. However, market restraints such as economic fluctuations, government regulations impacting property development, and potential oversupply in certain segments could influence the growth trajectory. The segmentation of the market by major cities (Beijing, Shanghai, and Rest of China) and sectors (IT & ITES, Manufacturing, BFSI, Consulting, and Other Services) highlights the diverse opportunities and challenges within the market. Leading developers like Wanda Group, Henderson Land, and Evergrande Group are key players shaping the market dynamics through their significant project portfolios. Understanding these factors is crucial for investors and businesses operating within this competitive environment. The forecast for the China office real estate market reveals a consistently expanding market, although the rate of growth may fluctuate slightly year-on-year depending on macroeconomic conditions and government policies. The concentration of activity in major cities like Beijing and Shanghai underscores the importance of strategic location in driving investment. The IT and ITES sector is expected to remain a significant driver of demand due to continuous technological advancements and the growth of Chinese tech companies. The BFSI sector also presents strong growth potential due to its increasing need for sophisticated office spaces. The "Rest of China" segment showcases emerging opportunities as smaller cities experience economic growth and attract investment. While significant challenges remain, the overall outlook suggests considerable potential for growth and profitability for those strategically positioned within the China office real estate market. China Office Real Estate Market Report: 2019-2033 This comprehensive report provides an in-depth analysis of the China office real estate industry, covering the period from 2019 to 2033. With a base year of 2025 and a forecast period extending to 2033, this report offers invaluable insights for investors, developers, and businesses operating within this dynamic market. The report uses data from the historical period (2019-2024) and incorporates recent market developments to provide a holistic view of the sector's current status and future trajectory. It analyzes key players like Wanda Group, Henderson Land Development Company Limited, Evergrande Group, Greenland Holding Group, and others, examining their strategies and market positions within the context of evolving industry trends. The market is segmented by major cities (Beijing, Shanghai, Rest of China), sectors (IT & ITES, Manufacturing, BFSI, Consulting, Other Services), and other critical factors. This report is crucial for understanding the challenges and opportunities presented by the rapidly changing Chinese office real estate landscape. Recent developments include: April 2023: China's new private equity real estate pilot programme is designed to boost investment in the property sector and attract increased foreign investment. The pilot programme, announced by the Securities Regulatory Commission (CSRC) last month, is intended to boost private investment in the Chinese real estate market and open the door to foreign investors. The aim is to improve liquidity and reduce property developers' debt ratios., March 2023: Cushman & Wakefield's (NYSE: CWK) Greater China Capital Markets team recently facilitated the acquisition by CapitaLand Investment Private Fund of the Beijing Suning Life Plaza mixed-use development from Suning for approximately US$400 million.. Key drivers for this market are: Strong Demand and Rising Construction Activities to Drive the Market, Rising House Prices in Germany Affecting Demand in the Market. Potential restraints include: Weak economic environment. Notable trends are: Robust Leasing Demand For the Office Spaces Driving the Market.