AsianFin--August saw a continued decline in secondary home prices. The average price for secondary homes in these cities was 14,549 yuan per square meter, down 0.71% from the previous month, according to the China Real Estate Index System's survey of the housing markets in 100 cities and rental markets in 50 cities.

This marks the 28th consecutive month of month-on-month declines, with a year-on-year drop of 6.89%. The downward trend is attributed to owners lowering prices to boost sales.

In contrast, the average price of new homes in these cities rose to 16,461 yuan per square meter, an increase of 0.11% month-on-month and 1.76% year-on-year. This rise is partially driven by the introduction of high-quality improvement projects in select cities, leading to a structural increase in new home prices.

The average rental price for residential properties in 50 cities was 36.2 yuan per square meter per month, down 0.20% month-on-month and 2.13% year-on-year. Rental demand has slowed down following the graduation season, resulting in a slight decrease in rental prices in key cities.