Related News
Home » Business » Real Estate
A weak year-end for new home sales, but prices up
Print Edition
Weekly sales of new homes fell below 100,000 square meters again in Shanghai as weakness extended for another week, according to the latest market data.
The area of new residential properties sold, excluding government-subsidized affordable housing, dropped 11.8 percent from a week earlier to 88,000 square meters during the seven days to Sunday, Shanghai Centaline Property Consultants Co said in its weekly report yesterday.
“Only the Pudong New Area managed to register more than 10,000 square meters of sales while several downtown districts saw zero sales again as momentum among buyers continued to fall,” said Lu Wenxi, Centaline’s senior research manager.
“Average prices, meanwhile, continued to go north amid comparatively robust sales in the medium to high-end segment.”
Pudong, excluding the Nanhui area, recorded transactions of around 17,000 square meters, a week-on-week decrease of 26.1 percent. It was most closely trailed by the Nanhui area and Qingpu District, where 9,206 square meters and 8,381 square meters of new houses were sold, respectively. Zero sales continued to plague downtown Changning and former Luwan districts, according to Centaline data.
The average price of a new home rose 6 percent from a week earlier to 66,342 yuan (US$9,619) per square meter.
A luxury project in Pudong was the most popular development after selling 7,638 square meters, or 35 units, of new homes for an average 118,769 yuan per square meter.
Among the top 10 list, four projects cost more than 80,000 yuan per square meter on average, while four asked for less than 40,000 yuan per square meter, Centaline data showed.
On the supply side, three developments, or 111,000 square meters of new homes in total, were released to the market, a surge of 262 percent from the previous seven-day session.
But the market will most likely remain subdued through the end of the year.
- 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.
