The average price of new homes in 100 major Chinese cities reached RMB 17,316 per square meter (about $2,577) in October 2026. It rose 0.18% from September and 2.02% from a year earlier, according to CIA, an independent property research organization.
New high-priced residential projects launched in several major cities helped drive the increase. Second-hand homes, meanwhile, continued to lose value. Their average price was RMB 12,376 per square meter (about $1,842), down 0.61% month on month and 6.72% year on year. The monthly decline widened by 0.01 percentage points, while the annual decline narrowed by 0.22 points from September.
Transactions in the second-hand market recovered year on year in October, but prices fell both month on month and year on year. CIA said the market remained in an adjustment phase, with sellers cutting prices to attract buyers and no signs of stabilization yet.
Construction, including real estate and infrastructure, accounted for 49% of China’s steel consumption in 2025.
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