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Existing home sales jump in July
By Cherry Cao |
August 7, 2012, Tuesday
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Print Edition
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SHANGHAI'S existing property sales climbed above the 20,000-unit threshold again in July, mainly due to robust demand from locals, according to a market report.
Purchases of previously owned properties, most being residential developments, rose 9.4 percent from June to 21,100 units, extending growth for the third straight month, Century 21 China Real Estate, operator of the city's largest estate chain in terms of outlet numbers, said in a report yesterday.
"For the first time since February 2011, the monthly transaction volume returned to above 20,000," said Qiu Dan, a researcher at Century 21. "Notably, demand from locals, as well as from corporate buyers, was strong over the past month."
Locals purchased about 12,100 units of existing properties in July whereas corporate buyers concluded some 1,000 deals, a monthly increase of 1,300 units and 800 units, respectively, Century 21 data showed.
The existing properties were sold at an average 16,454 yuan (US$2,600) per square meter, up 4.9 percent from June. The increase was mainly due to price hikes by owners in some areas of the city. Between 20 to 30 percent of the projects tracked by Century 21 recorded price increases last month, Qiu said.
Shanghai Centaline Property Consultants Ltd, operator of the city's largest realty chain in terms of transaction value, said in a separate report released yesterday that values of existing homes at 74 out of the 104 developments it monitors increased in price in July from June, with 32 projects recording month-on-month growth of between 5 and 10 percent.
Home values decreased at the other 30 monitored projects, Centaline data showed.
Purchases of previously owned properties, most being residential developments, rose 9.4 percent from June to 21,100 units, extending growth for the third straight month, Century 21 China Real Estate, operator of the city's largest estate chain in terms of outlet numbers, said in a report yesterday.
"For the first time since February 2011, the monthly transaction volume returned to above 20,000," said Qiu Dan, a researcher at Century 21. "Notably, demand from locals, as well as from corporate buyers, was strong over the past month."
Locals purchased about 12,100 units of existing properties in July whereas corporate buyers concluded some 1,000 deals, a monthly increase of 1,300 units and 800 units, respectively, Century 21 data showed.
The existing properties were sold at an average 16,454 yuan (US$2,600) per square meter, up 4.9 percent from June. The increase was mainly due to price hikes by owners in some areas of the city. Between 20 to 30 percent of the projects tracked by Century 21 recorded price increases last month, Qiu said.
Shanghai Centaline Property Consultants Ltd, operator of the city's largest realty chain in terms of transaction value, said in a separate report released yesterday that values of existing homes at 74 out of the 104 developments it monitors increased in price in July from June, with 32 projects recording month-on-month growth of between 5 and 10 percent.
Home values decreased at the other 30 monitored projects, Centaline data showed.
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