New housing prices in China recorded their 32nd consecutive monthly drop in January, in the context of a prolonged real estate crisis, which worsened again at the end of 2025, despite successive stimulus packages launched by the authorities.
According to calculations made based on data this Friday, 13th, released by the National Statistics Office (GNE) of China, prices in 70 cities analyzed fell 0.37% compared to the previous month, a contraction identical to that recorded in December.
Among these locations, 62 recorded drops in the price of new housing (more than 58 in December), while five – including Wuhan (center of the country) – showed slight increases, below the six in the previous month.
The same calculations also indicate a 0.54% monthly drop in second-hand home prices, a slightly smaller decline than that observed in the previous month.
For the first time in several months, not all cities recorded a drop in used property prices: in two of them – Yangzhou (east) and Zhanjiang (southeast) – an increase was observed compared to December 2025.
In recent years, the Chinese government has announced several measures to contain the collapse of the property market – a major source of concern for Beijing, given the importance of housing as a vehicle for investment and asset preservation for Chinese families.
The crisis in the real estate sector is seen as one of the main factors behind the slowdown in the Chinese economy. According to analysts, the sector, considering direct and indirect effects, represents around 30% of the country’s Gross Domestic Product (GDP).
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