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Existing property sales hit 17-month high in June
By Cao Qian |
July 5, 2012, Thursday
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Online Edition
Online Edition
SHANGHAI'S existing property sales soared to the highest in 17 months in June as more home seekers began to sign deals.
Purchases of previously-owned properties, mostly in residential developments, jumped 20.3 percent from May to 19,300 units, Century 21 China Real Estate said today.
"It's rather rare to register booming sales in June, which is usually a slack month due to hot weather," said Huang Hetao, research manager at Century 21, the city's largest realty chain in terms of outlet numbers.
"A number of factors including revived demand from buyers to upgrade homes, latest interest rate cut and a relaxed credit environment at commercial banks, brought a surge in transaction."
In price, existing properties sold at an average 15,700 yuan (US$2,484) per square meter, a decrease of 3.2 percent from May.
The price dip was mainly due to increased proportion of medium-level and low-end properties. But about 90 percent of the 40 major residential projects tracked by Century 21 saw their prices unchanged from a month earlier.
For the first six months of this year, sales of existing properties fell 3 percent annually to 80,200 units in the city, according to Century 21.
Purchases of previously-owned properties, mostly in residential developments, jumped 20.3 percent from May to 19,300 units, Century 21 China Real Estate said today.
"It's rather rare to register booming sales in June, which is usually a slack month due to hot weather," said Huang Hetao, research manager at Century 21, the city's largest realty chain in terms of outlet numbers.
"A number of factors including revived demand from buyers to upgrade homes, latest interest rate cut and a relaxed credit environment at commercial banks, brought a surge in transaction."
In price, existing properties sold at an average 15,700 yuan (US$2,484) per square meter, a decrease of 3.2 percent from May.
The price dip was mainly due to increased proportion of medium-level and low-end properties. But about 90 percent of the 40 major residential projects tracked by Century 21 saw their prices unchanged from a month earlier.
For the first six months of this year, sales of existing properties fell 3 percent annually to 80,200 units in the city, according to Century 21.
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