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Cheaper homes selling well in Shanghai
By Cherry Cao |
May 13, 2013, Monday
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Online Edition
Online Edition
PURCHASES of new homes rebounded in Shanghai last week with mid to low-end houses registering robust sales.
Sales of new residential properties, excluding government-funded affordable housing, rose 30 percent to 218,600 square meters across the city during the seven-day period that ended on Sunday, according to a report by Shanghai Uwin Real Estate Information Services Co.
The average cost was 20,700 yuan (US$3,339) a square meter, an 11 percent drop on the previous week.
"None of last week's 10 best-selling projects exceeded 20,000 yuan per square meter and the cheapest of them only asked for 8,900 yuan a square meter, indicating demand for mid to low-end products remaining strong," said Huang Zhijian, chief analyst at Uwin. "Fortunately, supply of those homes has improved over the past months, which is good to maintain their price."
Sales of new residential properties, excluding government-funded affordable housing, rose 30 percent to 218,600 square meters across the city during the seven-day period that ended on Sunday, according to a report by Shanghai Uwin Real Estate Information Services Co.
The average cost was 20,700 yuan (US$3,339) a square meter, an 11 percent drop on the previous week.
"None of last week's 10 best-selling projects exceeded 20,000 yuan per square meter and the cheapest of them only asked for 8,900 yuan a square meter, indicating demand for mid to low-end products remaining strong," said Huang Zhijian, chief analyst at Uwin. "Fortunately, supply of those homes has improved over the past months, which is good to maintain their price."
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