Another strong week for Shanghai’s new home market

By Cherry Cao | December 14, 2015, Monday |

Online Edition

STRENGTH extended for another week in Shanghai's new home market with growth registered in both transaction volume and supply, latest market data suggest.

The area of new residential properties sold, excluding government-funded affordable housing, rose 24.7 percent to 378,200 square meters during the seven-day period ended Sunday, Shanghai Uwin Real Estate Information Services Co said in a report released today.

These new homes cost an average 33,543 yuan (US$5,184) per square meter, a week-over-week decrease of 1.43 percent.

"Transaction volume exceeded 600,000 square meters in the first 13 days of this month, indicating good prospects for December if the current pace of sales could be maintained," said Huang Zhijian, chief analyst at Uwin. "Notably, new home supply more than doubled last week, returning above the 200,000-square-meter threshold for the first time in three weeks."

Citywide, 238,700 square meters of new houses spanning 14 projects were released to the local market, a surge of 134 percent from the previous week, according to Uwin data.

Real Estate

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Another strong week for Shanghai’s new home market

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