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February 18, 2020

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New housing bounces back

New-home-buying sentiment in Shanghai rebounded last week with major recoveries seen in outlying districts.

The total area of new residential properties sold, excluding government-funded affordable housing, soared 380 percent week over week to 19,000 square meters during the seven-day period ending Sunday, Shanghai Centaline Property Consultants said yesterday. Across the city, the Nanhui region of the Pudong New Area continued to lead the pack with weekly sales of 4,392 square meters. Qingpu and Songjiang districts followed most closely with seven-day transactions hitting 3,585 square meters and 2,297 square meters respectively. The average price of new homes also rebounded amid improving sales, selling for an average price of 51,520 yuan (US$7,377) per square meter.

(Cao Qian)


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