Related News
Shanghai housing market red hot in March
Online Edition
HOME purchasing sentiment surged to an 11 year high in Shanghai last month as buyers rushed to secure deals ahead of tightening policies to cool the overheated market.
The area of new homes sold, excluding government-subsidized affordable housing, more than tripled in March to 2.21 million square meters, the highest monthly volume registered since April 2005, Shanghai Homelink Real Estate Agency Co said in a report released today. On a year-on-year basis, it represented an increase of 184 percent, Homelink data showed.
"Home buying sentiment surged to the highest on March 24, one day prior to the official launch of rein-in measures by the city government," said Lu Qilin, director of research at Shanghai Homelink. "The latest batch of tightening measures, harsher than most analysts had expected, would probably trigger wait-and-see sentiment among potential buyers and therefore affect transaction volume in the coming months while home prices will likely remain stable."
The average cost of new homes dropped 9.1 percent from February to 33,065 yuan (US$5,105) per square meter, mainly due to a structural shift.
Citywide, about 963,000 square meters of new houses costing 25,000 yuan per square meter and cheaper were sold last month, a surge of 218 percent from February, Shanghai Centaline Property Consultants Ltd said in a separate report.Rui Hong Xin Cheng in downtown Hongkou District, a project developed by Shui On Land, sold 161 apartments for an average price of 76,270 yuan per square meter last month, becoming the only high-end development squeezed into the Top 10 list for most sought after projects in March, Centaline data showed.
Last Friday, Shanghai unveiled a batch of tightening measures to cool the city's overheated housing market which include a higher minimum down payment for second-home buyers and raised eligibility threshold for non-local residents to buy a house.
On the supply side, 864,000 square meters of new houses were released to the local market last month, a surge of 457 percent from February, according to Centaline.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
