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Existing home sales top 20,000 units last month
By Cherry Cao |
August 6, 2012, Monday
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SHANGHAI'S existing home sales crossed the 20,000-unit threshold again in July, boosted by big demand from local buyers, according to latest market research.
The sales of previously-owned properties, mostly residential developments, rose 9.4 percent from June to 21,100 units, extending growth for the third straight month, Century 21 China Real Estate, a leading property agency in Shanghai, said in a report today.
"For the first time since February 2011, the monthly sales volume exceeded 20,000 units," said Qiu Dan, a researcher at Century 21. "Demands from local residents and corporate buyers were notably strong over the past month."
Local residents bought about 12,100 units of existing properties in July while corporate buyers concluded some 1,000 deals, a monthly increase of 1,300 units and 800 units respectively, Century 21 data showed.
The purchases averaged 16,454 yuan (US$2,600) per square meter, up 4.9 percent from June. The increase was mainly due to price hikes by individual owners in some areas in 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 the prices of existing homes at 74 out of the 104 developments it monitors across the city rose in July and 35 climbed by 5 to 10 percent.
The sales of previously-owned properties, mostly residential developments, rose 9.4 percent from June to 21,100 units, extending growth for the third straight month, Century 21 China Real Estate, a leading property agency in Shanghai, said in a report today.
"For the first time since February 2011, the monthly sales volume exceeded 20,000 units," said Qiu Dan, a researcher at Century 21. "Demands from local residents and corporate buyers were notably strong over the past month."
Local residents bought about 12,100 units of existing properties in July while corporate buyers concluded some 1,000 deals, a monthly increase of 1,300 units and 800 units respectively, Century 21 data showed.
The purchases averaged 16,454 yuan (US$2,600) per square meter, up 4.9 percent from June. The increase was mainly due to price hikes by individual owners in some areas in 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 the prices of existing homes at 74 out of the 104 developments it monitors across the city rose in July and 35 climbed by 5 to 10 percent.
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