Recent data from multiple authoritative institutions indicate that housing prices in China’s first-tier cities—Beijing, Shanghai, Guangzhou, and Shenzhen—are showing signs of stabilization. According to the latest National Bureau of Statistics report on the 70-city housing price index, since the second quarter of 2024, month-on-month declines in second-hand home prices in these cities have continued to narrow, with some districts even experiencing modest rebounds. Meanwhile, transaction volumes in the new-home market have also begun to recover, developers are adopting more rational launch strategies, and buyer hesitation is gradually easing.This stabilization stems from a series of coordinated policy measures. Since early 2024, both central and local governments have rolled out supportive policies—including easing purchase restrictions, lowering down payment requirements, and reducing mortgage rates—which have effectively bolstered market confidence. Additionally, steady population inflows and concentrated access to high-quality resources in first-tier cities continue to underpin long-term housing demand.However, experts caution that ‘stabilization’ does not equate to ‘rebound.’ The market remains in a recovery phase, and a significant price surge in the short term is unlikely. Future price trends will largely depend on the pace of economic recovery, household income expectations, and the refinement of long-term real estate mechanisms. Overall, the property markets in China’s first-tier cities are moving toward a healthier and more stable trajectory.
近期，多个权威机构发布的数据显示，中国一线城市（北京、上海、广州、深圳）的房价已出现企稳迹象。国家统计局最新公布的70城房价指数显示，2024年第二季度以来，一线城市的二手房价格环比跌幅持续收窄，部分区域甚至出现小幅回升。同时，新房市场成交量也有所回暖，开发商推盘节奏趋于理性，购房者观望情绪逐步缓解。这一企稳信号的背后，是多项政策协同发力的结果。今年以来，中央及地方陆续出台优化限购、降低首付比例、下调房贷利率等支持性措施，有效提振了市场信心。此外，一线城市人口流入稳定、优质资源集中，长期住房需求依然坚实，为房价提供了基本面支撑。不过，专家也提醒，当前的‘企稳’并不等于‘反弹’，市场仍处于修复阶段，短期内大幅上涨的可能性较低。未来房价走势将更多取决于经济复苏力度、居民收入预期以及房地产长效机制的完善程度。总体来看，一线城市的房地产市场正朝着更加健康、平稳的方向发展。
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