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.

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.

Property Price: Residential: Shanghai data was reported at 44,429.879 RMB/sq m in 2022. This records an increase from the previous number of 40,974.194 RMB/sq m for 2021. Property Price: Residential: Shanghai data is updated yearly, averaging 10,308.500 RMB/sq m from Dec 1995 (Median) to 2022, with 28 observations. The data reached an all-time high of 44,429.879 RMB/sq m in 2022 and a record low of 2,477.000 RMB/sq m in 1995. Property Price: Residential: Shanghai data remains active status in CEIC and is reported by Shanghai Municipal Bureau of Statistics. The data is categorized under China Premium Database’s Price – Table CN.PE: Property Price: Residential: Prefecture Level City.

Property Price Index: Secondary Mkt: Residential: Shanghai data was reported at 100.400 Prev Mth=100 in Mar 2025. This records an increase from the previous number of 99.600 Prev Mth=100 for Feb 2025. Property Price Index: Secondary Mkt: Residential: Shanghai data is updated monthly, averaging 100.200 Prev Mth=100 from Jan 2011 (Median) to Mar 2025, with 171 observations. The data reached an all-time high of 106.200 Prev Mth=100 in Mar 2016 and a record low of 98.500 Prev Mth=100 in Nov 2023. Property Price Index: Secondary Mkt: Residential: Shanghai data remains active status in CEIC and is reported by National Bureau of Statistics. The data is categorized under China Premium Database’s Real Estate Sector – Table CN.EA: Property Price Index: (Previous Month=100): Secondary Market Residential.

Property Price: YTD Avg: Com Bldg: House in Advance: Shanghai data was reported at 34,232.973 RMB/sq m in Dec 2019. This records a decrease from the previous number of 35,093.131 RMB/sq m for Nov 2019. Property Price: YTD Avg: Com Bldg: House in Advance: Shanghai data is updated monthly, averaging 20,629.093 RMB/sq m from Jan 2006 (Median) to Dec 2019, with 167 observations. The data reached an all-time high of 75,218.480 RMB/sq m in Feb 2019 and a record low of 5,732.000 RMB/sq m in Jul 2008. Property Price: YTD Avg: Com Bldg: House in Advance: 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: Commercial Building: Monthly.

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.

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.

please cite our article: Do street-level scene perceptions affect housing prices in Chinese megacities? An analysisi using open access datasets and deep learning

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).

Housing transaction data in Shanghai and Beijing in 20160307&20160308, 20160314&20160315, 20160318&20160319

Shanghai Property Price: Secondary Mkt: Xuhui: Xujiahui data was reported at 19,657.000 RMB/sq m in Jan 2011. This records an increase from the previous number of 19,600.000 RMB/sq m for Dec 2010. Shanghai Property Price: Secondary Mkt: Xuhui: Xujiahui data is updated monthly, averaging 14,514.000 RMB/sq m from Jan 2005 (Median) to Jan 2011, with 73 observations. The data reached an all-time high of 19,686.000 RMB/sq m in Jun 2010 and a record low of 10,643.000 RMB/sq m in Jan 2005. Shanghai Property Price: Secondary Mkt: Xuhui: Xujiahui data remains active status in CEIC and is reported by Shanghai Existing Property Index Office. The data is categorized under China Premium Database’s Price – Table CN.PD: Shanghai Existing Property Index Office: Shanghai Property Price: Secondary Market (Discontinued).

Shanghai Property Price: Secondary Mkt: Changning: Tianshan data was reported at 16,343.000 RMB/sq m in Jan 2011. This records an increase from the previous number of 16,229.000 RMB/sq m for Dec 2010. Shanghai Property Price: Secondary Mkt: Changning: Tianshan data is updated monthly, averaging 13,057.000 RMB/sq m from Jan 2005 (Median) to Jan 2011, with 73 observations. The data reached an all-time high of 16,343.000 RMB/sq m in Jan 2011 and a record low of 8,714.000 RMB/sq m in Jan 2005. Shanghai Property Price: Secondary Mkt: Changning: Tianshan data remains active status in CEIC and is reported by Shanghai Existing Property Index Office. The data is categorized under China Premium Database’s Price – Table CN.PD: Shanghai Existing Property Index Office: Shanghai Property Price: Secondary Market (Discontinued).

In 2023, the investments into real estate development in Shanghai rose by more than ** percent to *** billion yuan. As a response to increasing real estate prices in the city, local policymakers introduced regulations to reign in the housing market.

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.

China Market Cap: Shanghai SE: Real Estate data was reported at 610,069.000 RMB mn in Mar 2025. This stayed constant from the previous number of 610,069.000 RMB mn for Feb 2025. China Market Cap: Shanghai SE: Real Estate data is updated monthly, averaging 498,891.000 RMB mn from Apr 2001 (Median) to Mar 2025, with 287 observations. The data reached an all-time high of 1,535,433.000 RMB mn in Dec 2015 and a record low of 43,491.060 RMB mn in Jul 2005. China Market Cap: Shanghai SE: Real Estate data remains active status in CEIC and is reported by Shanghai Stock Exchange. The data is categorized under China Premium Database’s Financial Market – Table CN.ZA: Shanghai Stock Exchange: Market Capitalization.

pleas cite our article: Do street-level scene perceptions affect housing prices in Chinese megacities? An analysis using open access datasets and deep learning

The house price data are collected from the official website of China's National Bureau of Statistics . We acquired the month-on-month growth data of house prices since January 2006, then compiled the house price index based on January 2006 as 100. The Shanghai Stock Exchange Index (SSEI) data which are treated as stock market prices are derived from the CSMAR database. After that, we calculate the monthly house price and stock price return as , where are proxied by the monthly house price index and SSEI, and represent the returns series. 157 observations from January 2006 to March 2019 are obtained.

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.

China's large population, the accelerating urbanization process, rising household disposable incomes, and strong economic expansion have all contributed to the development of the real estate market. As a result, demand for real estate agents in China has been rising to meet the expanding market volumes and requirements for higher transaction efficiency.Over the five years through 2025, industry revenue is anticipated to decrease at a CAGR of 3.3%, including a decline of 2.2% in 2025. A competitive market has led to speculation and inflated housing prices in recent years. As a result, the Chinese government has implemented property-purchasing and loan limitations, price restrictions, and housing tax reforms to regulate industry development and limit speculation. Since 2022, consumers' demand for real estate has declined due to the COVID-19 epidemic and economic downturn. In 2023, the newly constructed area of real estate decreased by 20.9% year-on-year, which was narrower than that in 2022, while the completed area of real estate in this year increased by 15.8%.Over the five years through 2030, ACMR-IBISWorld forecasts that China's Real Estate Agents industry will recover, with revenue increasing at a CAGR of 1.9%. Due to intensifying competition, the separation of real estate development and sales will continue. Outsourcing real estate sales operations will improve the operational efficiency of real estate developers and offer new opportunities for real estate intermediary service providers in the industry.

According to a survey focusing on renters in China's major cities, as of early 2022, renters in Shanghai dedicated around one-fourth of their incomes to rent payments. Renters who lived in complete apartments reserved a slightly higher portion of their income for rent payments than their counterparts sharing apartments with flatmates.