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January sees mortgages touch a high
By Feng Jianmin |
February 26, 2013, Tuesday
|
Print Edition
Print Edition
MORTGAGES in Shanghai surged by the most in nearly 2 years last month due to robust home sales late last year.
Banks in Shanghai extended 5.67 billion yuan (US$910 million) in individual mortgages in January, up 3.59 billion yuan from the same month last year. It was the highest in nearly 2 years, the Shanghai headquarters of the People's Bank of China said in a statement yesterday.
The rebound was in tandem with a rise in new home sales since the second half last year.
Shanghai's new home sales, excluding those built under the city's affordable housing programs, climbed to 876,200 square meters in October from 809,900 square meters in September, according to data from Uwin Real Estate Information Services Co.
Mortgages in the city are expected to rise in the coming months as new home sales climbed to 981,500 square meters in November and an annual record of 1.2 million square meters in December, according to the Uwin data.
Banks in Shanghai extended 5.67 billion yuan (US$910 million) in individual mortgages in January, up 3.59 billion yuan from the same month last year. It was the highest in nearly 2 years, the Shanghai headquarters of the People's Bank of China said in a statement yesterday.
The rebound was in tandem with a rise in new home sales since the second half last year.
Shanghai's new home sales, excluding those built under the city's affordable housing programs, climbed to 876,200 square meters in October from 809,900 square meters in September, according to data from Uwin Real Estate Information Services Co.
Mortgages in the city are expected to rise in the coming months as new home sales climbed to 981,500 square meters in November and an annual record of 1.2 million square meters in December, according to the Uwin data.
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