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Home sales grow below seasonal expectations
By Cao Qian |
September 5, 2011, Monday
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Online Edition
Online Edition
HOUSE-BUYING sentiment remained in the doldrums in Shanghai last week while average prices remained firmly above 22,000 yuan (US$3,443) per square meter for the third straight week.
Sales of new homes, excluding affordable housing, climbed 13.5 percent from a week earlier to 153,200 square meters with average prices dipping 1 percent to 22,091 yuan per square meter during the same period, according to a report released yesterday by Shanghai Deovolente Realty Co, which operates more than 80 branches across the city.
"Though transaction volume registered a two-digit week-on-week growth, it was still far from our expectation for what should be achieved during the traditional high season for home sales," said Lu Qilin, a researcher with Deovolente. "The weekly volume of new home sales recorded in Shanghai during September and October is usually above 250,000 square meters."
While overall growth was registered, the luxury segment that includes new houses with a price tag of more than 50,000 yuan per square meter retreated from a week earlier. A total of 6,600 square meters of such homes were sold in Shanghai last week, a weekly dip of 1.5 percent.
On the supply side, new houses released almost doubled from a week earlier to 207,200 square meters, the highest in six weeks, Deovolente data showed. In particular, one of China Resources Land's developments in Nanxiang of Jiading District alone launched more than 88,000 square meters for sale, the most during the seven-day period.
Sales of new homes, excluding affordable housing, climbed 13.5 percent from a week earlier to 153,200 square meters with average prices dipping 1 percent to 22,091 yuan per square meter during the same period, according to a report released yesterday by Shanghai Deovolente Realty Co, which operates more than 80 branches across the city.
"Though transaction volume registered a two-digit week-on-week growth, it was still far from our expectation for what should be achieved during the traditional high season for home sales," said Lu Qilin, a researcher with Deovolente. "The weekly volume of new home sales recorded in Shanghai during September and October is usually above 250,000 square meters."
While overall growth was registered, the luxury segment that includes new houses with a price tag of more than 50,000 yuan per square meter retreated from a week earlier. A total of 6,600 square meters of such homes were sold in Shanghai last week, a weekly dip of 1.5 percent.
On the supply side, new houses released almost doubled from a week earlier to 207,200 square meters, the highest in six weeks, Deovolente data showed. In particular, one of China Resources Land's developments in Nanxiang of Jiading District alone launched more than 88,000 square meters for sale, the most during the seven-day period.
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