FX.co ★ China New Home Prices Fall the Most in 8 Months

New home prices in China’s 70 largest cities fell 3.2% year-on-year in February 2026, after a 3.1% decline in January. This marked the 32nd consecutive month of contraction and the sharpest annual drop since the previous June, highlighting Beijing’s continued difficulty in stabilizing a protracted property downturn while relying mostly on gradual, targeted policy support. Among key cities, prices continued to fall in Beijing (-2.3% vs -2.4% in January), Guangzhou (-5.1% vs -5.3%), Shenzhen (-5.5% vs -4.9%), Chongqing (-3.8% vs -3.5%), and Tianjin (-4.2% vs -4.0%). Shanghai remained a notable exception, with new home prices rising 4.2% year-on-year, unchanged from January. On a monthly basis, new home prices slipped 0.3% in February, following a 0.4% decline in each of the preceding three months.