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City home sales remain bullish

SALES of homes, both first and second-hand properties, continued to be bullish in the first half of this month with high-end houses remaining popular among buyers.

A total of 1.02 million square meters of new homes, excluding those designated for relocated residents due to urban redevelopment projects, were sold across the city during the first 15 days of June, a month-on-month increase of 12 percent from same period a month earlier, Shanghai Uwin Real Estate Information Services Co said today.

"While overall sentiment remained strong, demand for high-end homes, priced above 30,000 yuan (US$4,392) per square meter, was robust as well," said Lu Qilin, a researcher at Uwin. "More individual buyers from overseas purchased homes in the city over the past few months."

According to Uwin research, some 58,100 square meters in high-end homes changed hands in Shanghai at an average price of 44,299 yuan per square meter between June 1 and 15. That compared with 57,300 square meters of new luxury houses sold at 40,635 yuan per square meter on average for same period a month earlier.
Around the city, Yanlord Town in Pudong, Maison des Artistes in Gubei and Casa Lakeville in Xintiandi, which respectively sold 59 units, 34 units and 18 units in the first 15 days of the month, were the most popular among home buyers.

The second-hand market also registered a similar enthusiasm.

"We've noticed a 15-percent growth in used home transactions in the first half of this month," said Chi Shengyu, an official with the local second-hand housing index compiler's office. "In particular, there has been a notable increase in high-end houses which include old villa houses with a price tag of more than 30 million yuan and luxury apartments between 6 million and 8 million yuan per unit."


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