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A strong year for home market in Shanghai in 2015
Online Edition
SHANGHAI'S residential property market registered vibrant transactions and growing prices in 2015 amid a strong rebound in buyers' sentiment, Shanghai Statistics Bureau said today.
Citywide, new homes totaling 20.09 million square meters were sold last year, a year-on-year rise of 12.8 percent, according to a statement posted on the bureau's official website.
By cost, the mean selling price of new houses stood at 21,501 yuan (US$3,268) per square meter in 2015. By proximity to the city center, new residential properties located within the Inner Ring Road were sold for an average 72,066 yuan per square meter. For new homes beyond the Outer Ring Road, the average price reached 16,065 yuan per square meter while those located between the Inner and Outer ring roads cost an average 33,577 yuan per square meter, the bureau's data showed.
In terms of inventory, new houses available for sale, excluding government-subsidized affordable housing, fell to 10.75 million square meters by the end of last year, a decrease of 2.57 million square meters from the end of 2014.
Investment in real estate development, which covered all types of property, however, rose at a decelerating pace last year, mainly affected by a weakening domestic economy, the bureau said.
Across the city, some 346.9 billion yuan was invested in all real estate development last year, an increase of 8.2 percent from 2014. That was 5.5 percentage points slower than the growth recorded in 2014.
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