Home » Business » 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
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
