According to data from the Real Estate Agents Association, the report summarizes the house price decline data over the past eight years across cities of different tiers, as well as the principal gains and losses after purchasing with different down payment ratios.

The overall decline in first-tier cities is relatively small, but Beijing and Guangzhou experienced larger drops; the decline in fourth-tier cities is also relatively small due to the lack of actual transactions.

Additionally, a more serious issue is that in recent years, homebuyers with lower down payment ratios in second- and third-tier cities have already lost their entire down payments, turning into negative assets.