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Home buying sentiment rallies notably
By Cherry Cao |
December 18, 2012, Tuesday
|
Print Edition
Print Edition
HOME buying sentiment rebounded notably in Shanghai last week as real estate developers geared up to boost sales for better revenue.
The purchases of new homes, excluding government-subsidized affordable housing, jumped 26.1 percent week on week to 237,500 square meters during the seven days through Sunday, Shanghai Deovolente Realty Co said yesterday.
New home supply, meanwhile, soared 37.5 percent from the previous week to 332,800 square meters, the highest in 11 weeks.
"As supply surged, it is very likely that we are going to see a significant increase in new home transactions for the rest of the month, particularly in outlying areas where demand from budget-tight home seekers continued to be strong," said Lu Qilin, a Deovolente researcher. "New home sales in December will probably exceed 900,000 square meters if the current momentum carries on."
As of Sunday, about 499,000 square meters of new houses were sold in the city, up 7.2 percent from the same period in November, Deovolente said.
The average price of new homes rose 4.7 percent from a week ago to 22,234 yuan (US$3,535) per square meter on robust sales of luxury properties.
The purchases of new homes, excluding government-subsidized affordable housing, jumped 26.1 percent week on week to 237,500 square meters during the seven days through Sunday, Shanghai Deovolente Realty Co said yesterday.
New home supply, meanwhile, soared 37.5 percent from the previous week to 332,800 square meters, the highest in 11 weeks.
"As supply surged, it is very likely that we are going to see a significant increase in new home transactions for the rest of the month, particularly in outlying areas where demand from budget-tight home seekers continued to be strong," said Lu Qilin, a Deovolente researcher. "New home sales in December will probably exceed 900,000 square meters if the current momentum carries on."
As of Sunday, about 499,000 square meters of new houses were sold in the city, up 7.2 percent from the same period in November, Deovolente said.
The average price of new homes rose 4.7 percent from a week ago to 22,234 yuan (US$3,535) per square meter on robust sales of luxury properties.
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