Home 禄 Business 禄 Real Estate
Existing house index may decline soon
By Cao Qian |
June 5, 2010, Saturday
|
Print Edition
Print Edition
SHANGHAI'S existing house index continued to climb in May but a decline may be nearing as the monthly growth had decelerated to 0.15 percent.
The index, which tracks price fluctuations of existing homes across the city, climbed 4 points to 2,582, extending gains for the 14th consecutive month. It rose 0.69 percent in April and 0.81 percent in March.
"The transaction volume of existing homes plunged more than 60 percent in May across the city, with mid- to low-class homes being more severely affected compared with high-end houses," said Tao Ting, an analyst at the index compiler, Shanghai Existing House Index Office. "That explained why the index still managed to increase, though very slightly."
The prices of existing homes in five downtown districts gained an average 0.5 percent last month, compared with 0.97 percent in April. In outlying areas of the city, home prices dropped an average 1.02 percent from a month earlier, the compiler said.
Across the city, prices in 51 of the 68 areas monitored by the compiler gained last month while 17 areas posted a drop in prices.
Posting the biggest monthly increase in prices in May was the area around the City God Temple with 2.08 percent. The Zhongshan Park area saw a 1.56 percent rise in prices, and the Sichuan Road N. area 1.43 percent.
Shanghai Centaline Property Consultants Ltd, operator of the city's largest realtor chain, yesterday said the transaction volume of existing homes at its nearly 200 outlets dropped as much as 74 percent in May and the average price was flat at 22,407 yuan (US$3,280) per square meter.
The index, which tracks price fluctuations of existing homes across the city, climbed 4 points to 2,582, extending gains for the 14th consecutive month. It rose 0.69 percent in April and 0.81 percent in March.
"The transaction volume of existing homes plunged more than 60 percent in May across the city, with mid- to low-class homes being more severely affected compared with high-end houses," said Tao Ting, an analyst at the index compiler, Shanghai Existing House Index Office. "That explained why the index still managed to increase, though very slightly."
The prices of existing homes in five downtown districts gained an average 0.5 percent last month, compared with 0.97 percent in April. In outlying areas of the city, home prices dropped an average 1.02 percent from a month earlier, the compiler said.
Across the city, prices in 51 of the 68 areas monitored by the compiler gained last month while 17 areas posted a drop in prices.
Posting the biggest monthly increase in prices in May was the area around the City God Temple with 2.08 percent. The Zhongshan Park area saw a 1.56 percent rise in prices, and the Sichuan Road N. area 1.43 percent.
Shanghai Centaline Property Consultants Ltd, operator of the city's largest realtor chain, yesterday said the transaction volume of existing homes at its nearly 200 outlets dropped as much as 74 percent in May and the average price was flat at 22,407 yuan (US$3,280) per square meter.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 娌狪CP璇侊細娌狪CP澶05050403鍙-1
- |
- 浜掕仈缃戞柊闂讳俊鎭湇鍔¤鍙瘉锛31120180004
- |
- 缃戠粶瑙嗗惉璁稿彲璇侊細0909346
- |
- 骞挎挱鐢佃鑺傜洰鍒朵綔璁稿彲璇侊細娌瓧绗354鍙
- |
- 澧炲肩數淇′笟鍔＄粡钀ヨ鍙瘉锛氭勃B2-20120012
Copyright 漏 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
